Document Type
Journal Article
Publication Date
Summer 7-1-2020
Publication Title
Tourism Management Perspectives
Department
Computer Science and Information Systems
College/School
Arthur J. Bauernfeind College of Business
Abstract
The aim of this study is twofold: to explore whether board characteristics (i.e. a sustainability committee, board independence, board diversity, and board diligence) lead to greater corporate social responsibility (CSR) performance, and to test whether CSR performance enhances firms' financial performance in the hospitality and tourism (H&T) industry. Data were collected from the Thomson Reuters Eikon database for the H&T firms listed there between 2011 and 2018. We employed panel data analysis, after which we ran robustness tests. The results indicated that having a CSR committee and female directors on the board are robust factors driving firms to show superior CSR performance in all dimensions, including environmental, social, and governance (ESG). Independent directors and directors' diligence selectively enhance the overall CSR score and individual pillars of CSR. Investigating the relationship between CSR performance and firms' financial performance did not produce a significant outcome. The findings propose a straightforward roadmap for H&T firms and policymakers to identify characteristics of CSR-friendly boards.
Recommended Citation
This is an Accepted Manuscript of an article published by Elsevier in Tourism Management Perspectives on July 2020, available online: https://doi.org/10.1016/j.tmp.2020.100714
Included in
Business Analytics Commons, Business Intelligence Commons, Hospitality Administration and Management Commons