ABSTRACT
The traditional social responsibility theory believes that managers served as the representative of the stakeholders in a company and their decision-making should represent the interests of the stakeholders. That is to say, companies should only have the economic responsibility to "effectively produce goods and services" and nothing is concerned about social issues. Government and non-profit organizations should take the social responsibility.
With the rapid growth of economy, corporate social responsibility has modernized itself. It is explained as enterprises’ unshirkable responsibility or obligation to society while pursuing the maximum profit. It enables the sustainable development of enterprises and it is also enterprises’ commitment to the society. The modern social responsibility theory, on the one hand, is the rights and obligations of enterprises; on the other hand, it also requested the corresponding rights and obligations of the corporate social responsibility object.
This thesis focuses on how enterprises and their stakeholders fulfil their social responsibilities to ensure the smooth bankruptcy reorganization under the guidance of modern corporate social responsibility theory and bankruptcy restructuring system.
During the restructuring process of crisis corporate, "The Enterprise Bankruptcy Law" asked stakeholders to undertake the necessary restructuring of corporate social responsibility when fully protect their rights and interests. It represents the direction of socio-economic development, scientific rationality and also the spirit of “The Enterprise Bankruptcy Law ". Although in practice, "The Enterprise Bankruptcy Law” has no clear delineation on reforming the system, especially stakeholders’ responsibility, but it reflects many updated ideas that go with today's corporate governance and direction of development. This concept of reform has a very important practical significance in the continuing state-owned enterprises restructuring and especially in China's market economy perfecting.
Key Words: Social Responsibility Bankruptcy Restructuring System Bankruptcy Restructuring Enterprise Stakeholder
