Tourism law, labor supply and corporate performance in tourism listed firms

Jiang Shao and Miao Wang

Finance Research Letters, 2024, vol. 68, issue C

Abstract: Enhancing the regulatory environment and enhancing the level of provision is a crucial approach to achieving sustainable growth in the tourism economy. This paper employs a DID model to analyze the effects of legal institution development on the performance of tourism firms. Specifically, it focuses on the Tourism Law of the People's Republic of China as a quasi-natural experiment. The study utilizes listed tourism firms from 2011-2021 as the research sample. The finding reveals that implementing tourism law can promote firms' financial and non-financial performance, especially non-financial performance. This impact operates mainly through the positive effect of labor supply.

Keywords: Tourism law; Labor supply; Total factor productivity; ESG (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:68:y:2024:i:c:s1544612324010018

DOI: 10.1016/j.frl.2024.105971

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