Are you good enough? CSR, quality management and corporate financial performance in the hospitality industry
By Stefano Franco, M. Caroli, Francesco Cappa, G. del Chiappa. 2020
248 citations recorded by the source corpus.
Abstract Hospitality firms are increasingly investing in corporate social responsibility (CSR) to generate strong relationships with stakeholders while aiming to benefit their own performance. However, CSR may bring both costs and benefits to the focal firm. We analyze how corporate financial performance (CFP) is affected by CSR, finding that the impact of CSR on CFP has a U-shaped form, where CSR is a cost that translates into higher benefits only when it generates solid relationships between firms and their stakeholders. Furthermore, we adopt a contingency approach, assessing the role of quality management (QM) on the CSR-CFP relationship. We find that the simultaneous implementation of CSR and QM is less beneficial to CFP than the isolated implementation of CSR due to the redundancy of different activities aimed at similar goals, i.e., stakeholders’ satisfaction. In doing so, we advance academic understanding of the impact of CSR and QM on CFP.
Subfields: Marketing, Organizational Behavior and Human Resource Management, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/ce1904aeb61b8b993e5a3985f56443b9690b10de
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In Marketing
In Organizational Behavior and Human Resource Management
In Strategy and Management
Citations in the corpus
- The link among board characteristics, corporate social responsibility performance, and financial performance: Evidence from the hospitality and tourism industry (2020, background): “Nevertheless, a limited number of studies have examined the impact of CSR practices on firms’ financial performance in the H&T industry (Benavides-Velasco et al., 2014; Franco et al., 2019; González-Rodríguez et al., 2019; Kang et al., 2010; Singal, 2014; Theodoulidis et al., 2017)(3).”
- Can corporate social responsibility protect firm value during the COVID-19 pandemic? (2020, background): “On the one hand, corporate images are benefited by appropriate CSR activities that satisfy different stakeholders (Franco et al., 2020; Rhou and Singal, 2020) and that contribute to favorable evaluations in capital markets (Flammer, 2013; Madsen and Rodgers, 2015).”