Effects of ecological innovation, governance structure, and social development on the adoption of sustainable reporting in the global tourism industry

Jing Yuan, Ata Al Shraah, Yen-Ku Kuo, Iskandar Muda, Fatma Mabrouk, Marcos Espinoza-Maguiña and Niamat Abdulrehman

Economic Research-Ekonomska Istraživanja, 2023, vol. 36, issue 2, 2179092

Abstract: This study analyzes the effects of institutional factors on adopting sustainability reporting in the worldwide tourism industry. Initially, it compiled the data on the organizational environment, including environment, social and governance performance, and sector-level macroeconomic control variables such as economic growth, exports, and tourism receipts from 2001 to 2019. For empirical estimations, it applies multiple panel estimators; pooled ordinary least square (OLS), fixed effect, and random effects model, while dynamic Generalized Method of Moments is applied to address endogeneity issues in panel data. The results report that environmental, social, and governance indicators are essential for sustainable tourism. Mainly, ecological and social circumstances are more prominent than others. Further, ecological innovation is considered essential for sustainability in this sector. This research suggests an innovative theoretical approach that exposes the importance of sustainability reporting in the tourism industry. It also provides the guideline to the regulators that they should expand their focus on the regulations of sustainability reporting on the tourism industry.

Date: 2023
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DOI: 10.1080/1331677X.2023.2179092

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