Nonfinancial Disclosures as a Marketing and Governance Instrument for Tourism Organizations

DOI

10.2991/hssnpp-19.2019.170How to use a DOI?

Keywords

nonfinancial disclosure, corporate governance, social responsibility, toruism marketing

Abstract

Nonfinancial disclosures have become a key element in the development of strategic management policies for all types of companies in all sectors. This study focuses on the importance of nonfinancial disclosures in Russia by reviewing their evolution in the 21st century and examining the percentage of them in Russian companies by sector. The results show that the Russian tourism sector is suffering great weakness in this area, despite its dual role in this sector. On one hand, it is a way, which contributes to ensuring corporate compliance with the principles of corporate governance. On the other hand, it is an effective marketing instrument for companies by gaining more customers and building strong, long-term relationships between them. This was achieved by calculating the correlation between the number of nonfinancial disclosures of tourism companies and the number of incoming tourists in the world, which indicated a strong positive relationship between them. In addition, by comparing the growth of net income achieved by North American tourism companies in the period when the nonfinancial disclosures increased, with the period when such disclosures were rare. Moreover, this study emphasizes the role of the corporate governance committee in organizing the nonfinancial disclosures process under modern economic conditions.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - S. Daghman
AU  - M. Hamdan
AU  - E.D. Shetinina
PY  - 2019/07
DA  - 2019/07
TI  - Nonfinancial Disclosures as a Marketing and Governance Instrument for Tourism Organizations
BT  - Proceedings of the Internation Conference on "Humanities and Social Sciences: Novations, Problems, Prospects" (HSSNPP 2019)
PB  - Atlantis Press
SP  - 884
EP  - 890
SN  - 2352-5398
UR  - https://doi.org/10.2991/hssnpp-19.2019.170
DO  - 10.2991/hssnpp-19.2019.170
ID  - Daghman2019/07
ER  -