Research on the Impact of Social Responsibility on Economic Performance of listed Tourism Companies in China

Citation

Zhang, Yingying. (2016). Research on the impact of social responsibility on economic performance of listed tourism companies in China. (Master’s independent study). Bangkok: Siam University.

Abstract

Tourism is an important power in promoting social and economic development. Although China didn’t have “modern tourism” until the 1980s, its rapid development was enough to earn the world’s respect, Many industries are inextricably linked with tourism, so that the tourism industry acts as an “econoinic barometer “to a certain extent.

Tourism not only plays a strong role in stimulating the economy, but also has a significant social cffect, Compared with other industries, tourism consumes less resource, produces more jobs with better influence. In the context of China’s current cconomic downturn, how to boost the vitality of the tourism market, stimulate citizen consumption and prolotc the development of other industrics is of greal signisicance to pronole economic recovery. In the tourism industry, listed tourism companies are regarded as mainstays, and the relationship between listed companies and ordinary companies is like the Icading sheep and flock, any of their movements may be imitated by the follow.

In recent years, various enterprises have begun to shift from emphasizing economic performance to emphasizing “cconomic performance and social responsibility” (Luo Jinning, 2006). This development trend sweeps whole world as well, a large number of international companies begin to attach importance to corporate social responsibility (CSR) in developing production rules and regulations. Researches on CSR have become a new trend pursued by scholars. Relatively speaking, overseas researchers have made great achievements in this topic, taking into account both theoretical analysis and empirical research, while China’s studies in this area are more inclined to theoretical analysis but lack of empirical researches.

This paper focuses on listed tourism companies and analyzes their responsibilities to stakeholders, including investors, consumers etc. to analyze the impact of CSR on economic performance. In this paper, the classical theory of CSR is adopted in the analysis. In addition, this paper also conducts quantitatively analysis with sample data of listed tourism companies from 2008 to 2012 with SPSS20. Then, the relevance of CSR and economic performance is demonstrated through empirical analysis. The conclusion is: On the whole, for enterprises, the fulfillment of CSR will enhance their economic performance.

At the end of the paper, some recommendations are put forward.

This research is helpful for listed tourism companies to have a better understanding on the relationship between CSR and economic performance, so as to promote them to fulfill their social responsibilities. Meanwhile, the study is of great significance to promote the tourism industry’s CSR awareness.

Keywords: tourism industry, listed tourism company, CSR, stakeholders, economic performance.

Research on the Impact of Social Responsibility on Economic Performance of listed Tourism Companies in China

International Master in Business Administration (IMBA), Siam University, Bangkok, Thailand

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