Walk your reputation: The impact of corporate social responsibility decoupling on the hospitality and tourism firm value in the time of crisis

Author:

Wang Kewen1ORCID,Yu Yongqi1,Wang Xin1,Zheng Haidong2

Affiliation:

1. School of Tourism and Geography Science, Qingdao University, China.

2. School of Economics and Management, China University of Petroleum, China.

Abstract

A growing body of research has tested the protective effect of pre-COVID-19 CSR reputation or during-COVID-19 CSR action for hospitality and tourism firms but has obtained inconclusive results. These inconclusive results may have been because of the decoupling of during-COVID-19 CSR action from pre-COVID-19 CSR reputation. From the perspective of institutional theory, we use a sample of Chinese hospitality and tourism listed firms during the COVID-19 pandemic and a cluster-adjusted panel data regression with robust standard errors to reveal that the decoupling of a firm’s during-COVID-19 CSR action from its pre-COVID-19 CSR reputation negatively impacts firm value, and the negative impact is amplified for firms under stronger stakeholder scrutiny. Our findings could contribute to institutional theory by proving that decoupling is under close stakeholder scrutiny during crises and by identifying a specific type of CSR decoupling, and could offer practical implications for firms to protect their firm values during crises.

Funder

National Natural Science Foundation of China

Publisher

SAGE Publications

Subject

Tourism, Leisure and Hospitality Management,Geography, Planning and Development

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Corporate social responsibility Feng Shui and firm value;Annals of Tourism Research;2024-03

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