 Exploring corporate social responsibility and financial performance through stakeholder theory in the tourism industriesBabis Theodoulidis, David Diaz, Federica Crotto and Elisa Rancati Tourism Management, 2017, vol. 62, issue C, 173-188 Abstract: The literature examining the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) in the tourism industries is extensive but it has not verified the relationship unambiguously. This has been attributed to the methodological artefacts used, but also to the lack of a solid theoretical foundation. Based on stakeholder theory, this paper proposes the use of two models that explicitly investigate the relationship between stakeholder management, expressed as CSR activities, firm strategy and CFP. The strategic stakeholder model and the intrinsic stakeholder commitment model are evaluated in terms of their descriptive accuracy in four different tourism-related industries (airlines, casinos, hotels and restaurants) using panel regressions for the years 2005–2014. The results provide useful theoretical insights into the way in which CSR interacts with firm strategy and CFP, as well as managerial insights into how tourism practitioners can identify which CSR activities may impact CFP. Keywords: Corporate social responsibility; Financial performance; Stakeholder theory; Tourism industry; Airlines; Casinos; Hotels; Restaurants (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:touman:v:62:y:2017:i:c:p:173-188 DOI: 10.1016/j.tourman.2017.03.018 Access Statistics for this article Tourism Management is currently edited by Chris Ryan More articles in Tourism Management from Elsevier |
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