Exploring the connections among CSR performance,reporting, and external assurance: Evidence from the hospitality and tourism industry

This study explores the connections among corporate social responsibility performance, reporting, and external assurance in the hospitality and tourism industry by incorporating the Global Reporting Initiative framework. The originality of the study is that it tests signaling theory and the greenwashing tendency by examining different facets of corporate social responsibility engagement using a holistic approach with a cross-country sample. The data for the study were derived from the Thomson Reuters Eikon database for the years between 2012 and 2018. A panel data analysis with a Random-Effects estimator was run to test the hypothesized associations. Several conclusions were drawn based on the study. First, higher corporate social responsibility performers among hospitality and tourism companies have a higher propensity to publish corporate social responsibility reports. Second, higher corporate social responsibility achievements are a significant driving force behind the Global Reporting Initiative framework adoption. Third, among corporate social responsibility reporters, higher corporate social responsibility performers are more likely to assure their corporate social responsibility reports externally. Fourth, among corporate social responsibility reporters, Global Reporting Initiative framework adopters are more likely to assure their corporate social responsibility reports externally. Overall, the results verified the signaling theory but reject a greenwashing tendency in the hospitality and tourism sector. The proven links among the four dimensions of CSR incorporated into the study models indicate complementarity among the indicators. Besides, it should be noted that there is still a gap for improvement, particularly for non-corporate social responsibility reporters and for non-Global Reporting Initiative adopters.     

Impacts of positive and negative corporate social responsibility activities on company performance in the hospitality industry

In spite of growing concern for corporate social responsibility (CSR) in various industries including the hospitality industry, the relationship between CSR activities and financial performance is a rarely examined subject in the hospitality context. Especially, research measuring the separate impacts of positive and negative CSR activities on companies’ financial performances remains, as yet, unconsidered. Thus, this study examines different impacts of positive and negative CSR activities on financial performance of hotel, casino, restaurant and airline companies, theoretically based on positivity and negativity effects. Findings suggest mixed results across different industries and will contribute to companies’ appropriate strategic decision-making for CSR activities by providing more precise information regarding the impacts of each directional CSR activity on financial performance.     

Spirituality and corporate social responsibility: an empirical narrative from the Balinese tourism industry

The emerging body of knowledge has indicated the positive relationship between spirituality and corporate social responsibility (CSR), yet our understanding of how spirituality can play a role in CSR in general, and in tourism in particular, remains limited. This research takes a qualitative case study approach to the role of spirituality-inspired CSR by providing an empirical investigation of tourism businesses in Bali, Indonesia, where the Hindu based Tri Hita Karana philosophy drives its cultural identity. A total of 20 qualitative interviews and two focus groups were conducted with Bali tourism stakeholders including businesses, government, community and NGOs. The findings show that spirituality plays an important role in CSR in Balinese tourism in three dimensions, namely (1) as a key element of the broader social and cultural context to create a conducive external environment for CSR; (2) as a CSR driver to inspire business leaders; and (3) as a complement to CSR governance, though with limitations. This research contributes to the literature by providing an empirical narrative that demonstrates strong multi-layered links between spirituality and CSR and the implications for tourism destinations in spirituality-oriented cultures.     

Contribution of corporate social responsibility studies to the intellectual structure of the hospitality and tourism literature

This study aims to identify the role of corporate social responsibility (CSR) studies in formulating the intellectual structure of the hospitality and tourism literature by conducting a bibliometric analysis. A total of 8049 articles published in the top six hospitality and tourism journals between 1973 and 2019 and 401,473 listed references are extracted from Scopus. BibExcel and VOSviewer are used to develop and visualize bibliometric mapping and indicate the level of contribution of the CSR studies. Findings show that environmental responsibility outweighs the other CSR-related topics. In addition, stakeholder theory is the most commonly applied theory in the CSR literature, and five research clusters are identified. Furthermore, CSR-related studies remain in the emerging stage in the hospitality and tourism literature, and studies examining the perspectives of local communities are scarce. Finally, a holistic approach is necessary in CSR-related studies to connect and consolidate current CSR knowledge.     

The conceptual framework for ethics and corporate social responsibility in Taiwanese tourism industry

This study examines ethics and Corporate Social Responsibility (CSR) in the Taiwanese tourism industry from the standpoints of the government, academia, and industry through the perspective of Confucianism and creates a comprehensive, tourism-specific ethics and CSR conceptual framework. A qualitative approach was adopted in this study that recruited 21 experts to share their perspectives regarding ethics and CSR in the tourism industry. An original, valuable and comprehensive ethics and CSR conceptual framework in the tourism industry within the context of Chinese society was conducted and includes seven dimensions emerged from the data and were integrated into the following four facets: first, the dimensions of ethics; second, the antecedent facet of CSR is the inside and outside force; third, the strategy facet includes the economy, the environment, society, and culture; and fourth, the consequence aspect is feedback. Further, this research provides value for academics and practical strategy for related fields.     

Total quality management,corporate social responsibility and performance in the hotel industry

Total quality management (TQM) and corporate social responsibility (CSR) are relevant management philosophies in the hotel industry to be able to generate a sustainable competitive advantage. This paper examines how the implementation of both TQM and CSR influences the results of hotels’ stakeholders as an antecedent of business performance. An empirical study of a sample of 141 Spanish hotels from the Andalusian region shows that the adoption of such approaches improves the capacity of hotels to create benefits for their stakeholders, and these results have a positive effect on hotel performance. The study also provides evidence of the complementarity of both management philosophies as TQM can enhance the development of CSR.     

Exploring the links among corporate social responsibility,reputation, and performance from a multi-dimensional perspective

This study examines the links among corporate social responsibility (CSR), reputation, and performance in hotel companies from a multidimensional perspective. Data were collected from 322 hotels in China and partial least squares equation modelling (PLS-SEM) was employed for a causal-predictive analysis. Study results reveal that CSR practices influence hotel reputation as seen from both international and local perspectives. CSR and reputation influence performance dimensions (accounting-based performance, market-based performance, and non-financial performance) differently. The research findings offer specific theoretical and practical implications for hotel managers.     

Application of upper echelon theory for corporate social responsibility dimensions: Evidence from the restaurant industry

ABSTRACT

This study applies upper echelon theory and validates its conceptual framework by investigating chief executive officers’ observable determinants (e.g., the age, tenure, and formal education of top managers) of corporate social responsibility (CSR) in the restaurant industry. Multiple CSR dimensions (e.g., operational, non-operational, community, diversity, employee, environment, and product) are examined through fixed effects regression. The results indicate that older and highly educated CEOs who serve more stakeholders perform fewer CSR activities, whereas longer tenured CEOs who serve more stakeholders perform more CSR activities. Consequently, non-operational, community-, diversity-, employee-, and environment-related CSR activities are significantly explained by the proposed attributes. By validating both the theoretical perspectives of upper echelon theory and the role of stakeholder demands in CSR decisions, this research can contribute to expanding the CSR and upper echelon literature to the restaurant industry.     

A theoretical link between corporate giving and hospitality firm performance

This study makes a unique contribution to the hospitality literature by offering a theoretical model of the link between corporate giving (CG) and hospitality firm performance based on a duopolistic competition model with rational profit-maximizing hospitality firms. The equilibrium outcomes of the proposed model explicitly explain the mixed findings of the relationship between CG and hospitality firm performance found in the previous empirical studies. Specifically, the optimal level of a hospitality firm’s CG is positively related to the total market demand and the competitive advantage of CG, and negatively related to the induced cost of giving practices. Moreover, a positive or neutral relationship between CG and hospitality firm performance depends on whether CG could induce a competitive advantage of brand differentiation and customer loyalty to increase profit.     

Effects of different dimensions of corporate social responsibility on corporate financial performance in tourism-related industries

Although the stakeholder framework proposes the multidimensionality of corporate social responsibility (CSR) (Clarkson, 1995), previous research has yet to investigate the relationship between certain dimensions of CSR and corporate financial performance (CFP) in tourism-related industries. The purpose of this study was to disaggregate CSR into five dimensions based on corporate voluntary activities for five primary stakeholder issues: (1) employee relations, (2) product quality, (3) community relations, (4) environmental issues, and (5) diversity issues, and examine how each dimension would affect financial performance among firms within four tourism-related industries (airline, casino, hotel, and restaurant). While all CSR dimensions were proposed to have positive financial effects, results revealed that each dimension had a differential effect on both short-term and future profitability and that such financial impacts varied across the four industries. The findings can provide tourism managers with insights into which dimensions of CSR activities would improve their companies’ financial performance.     

EPU and financial performance in the hospitality and tourism industry: Moderating effect of CSR,institutional ownership and cash holding

The purpose of this study is to examine the effect of policy-related economic uncertainty (EPU) on the financial performance of hospitality and tourism companies. More precisely, the study aims at revealing how the performance of hospitality and tourism companies is affected at times of increasing EPU, and the role of corporate social responsibility (CSR) engagement, institutional ownership and cash holding to moderate this proposed relationship. The study’s sample includes a total of 113 companies from the hotel, restaurant and airline industries for the period 2001-2018. Hypotheses are tested via two-way fixed-effect regression. The study finds that increasing EPU is detrimental to firm performance presented in declining Tobin’s Q. However, the magnitude of this negative effect on firm performance becomes less pronounced as firms engage more in CSR, have larger fraction of institutional ownership and hold larger cash and cash equivalents     

Economic policy uncertainty and corporate investment: Evidence from the U.S. hospitality industry

The study of how uncertainty affects hospitality firms’ decisions is gaining attention in recent years. We examine the effect of Economic Policy Uncertainty (EPU) on the investment policy of a sample of 305 hospitality companies in the U.S. for the period 2001–2018. Applying generalized methods of moments (GMM) technique, we find that investment policies in hospitality companies are negatively affected by EPU. Panel quantile estimations reveal that the effect of EPU on corporate investment is only relevant for companies in the lower quantile of capital expenditures ratio. Our paper also provides policy implications to related parties.     

Corporate social responsibility and work engagement: Evidence from the hotel industry

This study aims at testing a research model which explains how corporate social responsibility (CSR) affects work engagement. Relationships between variables were assessed using structural equation modeling (SEM). Research data were gathered from full-time hotel employees (N: 680) and managers (N: 325) in Antalya province of Turkey. SEM results indicate that perceived external prestige and organizational identification play a partially mediating role in CSR's effect on work engagement. The present research is the first study which examined the relationship mechanism between CSR and work engagement by focusing on CSR with a broader perspective (the stakeholder approach) in the hospitality literature. Furthermore, it contributes to hospitality literature through revealing on the basis of generalized reciprocity principle of social exchange theory that work engagement could be increased with the help of CSR.     

The economy,tourism growth and corporate performance in the Taiwanese hotel industry

This study investigates the impact of economy and tourism growth on the corporate performance of tourist hotels in Taiwan. The indicators of corporate performance under consideration are occupancy rate (OPR), return on assets (ROA), return on equity (ROE), stock return, and the overall financial performance measured by a comprehensive score (a combined measure of asset management, profitability, short-term solvency or liquidity and long-term solvency based on factor analysis). The effects of changes in the state of economy (real GDP   growth rate, ΔGDP$\Delta \mathit{GDP}$) and tourism growth (growth rate of total foreign tourist arrivals, ΔTA$\Delta \mathit{TA}$) on the corporate performance of tourist hotels are then examined via panel regression tests. Test results show that both ΔGDP$\Delta \mathit{GDP}$ and ΔTA$\Delta \mathit{TA}$ are significant explanatory factors of OPR  , but only ΔTA$\Delta \mathit{TA}$ can strongly explain ROA and ROE  . However, neither ΔGDP$\Delta \mathit{GDP}$ nor ΔTA$\Delta \mathit{TA}$ have a significant influence on hotel stock performance. Further, the economic factor (ΔGDP)$\left(\Delta \mathit{GDP}\right)$ is slightly more crucial than the industry factor (ΔTA)$\left(\Delta \mathit{TA}\right)$ in describing the overall financial performance in the Taiwanese hotel industry. Empirical findings offer valuable information for government tourism policymakers and tourist hotel owners and managers.     

Balanced scorecard in the hospitality and tourism industry: Past,present and future

After its introduction in 1992, the balanced scorecard (BSC) has attracted considerable interest from both scholars and practitioners. This is evidenced by the increasing number of publications addressing BSC and the large number of professional events devoted to it. However, there is little research on BSC in the hospitality and tourism industry. This study aims to contribute towards filling this significant gap through studying 106 top-ranked journal articles on BSC, of which 37 belong to the hospitality and tourism industry. In so doing, the study highlights the research focus that has been placed so far on BSC and examines its trends and the relationships amongst its perspectives. It also provides valuable input to identify gaps currently impeding BSC development in the hospitality and tourism industry, recommends future research opportunities intended to improve understanding and practice of BSC along with building up on emerging research topics like sustainable tourism and new tourism management.     

Entrepreneurial bricolage,ambidexterity structure,and new venture growth: Evidence from the hospitality and tourism sector

This study aims to investigate the links between entrepreneurial bricolage, ambidexterity structure, and new venture growth in the Chinese hospitality and tourism industry. Survey data were collected from 345 entrepreneurs involved with new hospitality and tourism ventures in China. Hierarchical regression analysis was used to test the hypotheses of this study. The results indicate that both the combined and balanced dimensions of ambidexterity play mediating roles between entrepreneurial bricolage and new venture growth performance. By exploring the underlying mechanism of the relationship between entrepreneurial bricolage and new venture growth in the hospitality and tourism sector using a comprehensive theoretical model viewed through the lens of ambidexterity, the theoretical and practical implications for management are addressed, and possible directions for future research are discussed.     

Corporate social responsibility reporting by the global hotel industry: Commitment,initiatives and performance

The current study evaluates corporate social responsibility (CSR) reporting practice among the largest hotel companies in the world. Based on the content analysis of websites and reports published online by the top 150 hotel companies in the world in summer 2010, it identifies the communication methods used by hotel companies as well as the scope of reported information. Specifically, it demonstrates that while a large number of companies report commitment to CSR goals, much smaller number of them provide details of specific initiatives undertaken to contribute to these goals and even less of them report actual performance achieved. The study also identifies a number of challenges which make it very difficult to meaningfully compare performance of the hotel groups that do report it, including issues such as different methodologies applied, different measures used and lack of clarity with respect to the scope of reporting.