Corporate Social Responsibility and Corporate Sustainable Development-Evidence from Listed Tourism and Commerce Companies

The starting point of this paper is the fulfillment of corporate social responsibility of listed tourism and commerce companies in China. This paper goes on to build a corporate sustainable development index system in terms of operating capacity, solvency capacity and development capacity; and uses empirical data of 69 listed companies from 2010-2012 to test the impact of fulfillment of social responsibility on corporate sustainable development. The study finds that for listed tourism and commerce companies, the fulfillment of corporate social responsibility to employees, customers, investors, suppliers, government and other stakeholders has little effect on the sustainable development at present; but will have a significant impact on the companies' future sustainable development. In the long run, companies can achieve sustainable development only if they can deal well with the interests of all stakeholders.