Proceedings of the 7th International Conference on Social Science and Higher Education (ICSSHE 2021)

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Corporate Social Responsibility and Financial Performance in Hospitality Industry: A Critical Review

Authors
C. Lyu1, M. Wang1, *, R. Zhang2, Y. N. Ng3
1School of Business, Macau University of Science and Technology, Macao 999078, China
2Faculty of Business Administration, University of Macau, Macao 999078, China
3School of Hospitality Management, Macao Institute for Tourism Studies, Macao 999078, China
*Corresponding author. Email: wangmingchang@hotmail.com
Corresponding Author
M. Wang
Available Online 23 November 2021.
DOI
10.2991/assehr.k.211122.072How to use a DOI?
Keywords
corporate social responsibility; financial performance; hospitality industry; stakeholder
Abstract

This paper aims to investigate the status quo of the research in relation to corporate social responsibility (CSR) and financial performance in hospitality industry. A critical review has been conducted based on 69 good quality journal papers by using both quantitative and qualitative content analysis methods. The results show quantitative method is the main stream of methodology used and US dataset is more preferable. Besides, stakeholder perspective represents the main school of thoughts in recent years. Although majority of the studies have proved positive association between CSR and financial performance, negative relationship is still evidenced by research with samples of loss-making firms. Furthermore, many studies suggest developing conceptual framework or furthering the extant theoretical framework to cope with the rapid changes in CSR fields as well as the diversified CSR behaviour of the public companies in today’s business world. The findings of this critical review bring additional insight to the CSR and hospitality academia and can stimulate scholars’ further study on how to achieve balance between social and financial performance of public companies in this industry. Theoretically, this critical review enlightens the need for developing/extending the classical theoretical model for matching with the new phenomenon in the CSR field. Practically, the review results also provide valuable information and suggestions to industry operators for their improvement in CSR practice.

Copyright
© 2021 The Authors. Published by Atlantis Press SARL.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 7th International Conference on Social Science and Higher Education (ICSSHE 2021)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
23 November 2021
ISBN
978-94-6239-464-3
ISSN
2352-5398
DOI
10.2991/assehr.k.211122.072How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press SARL.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - C. Lyu
AU  - M. Wang
AU  - R. Zhang
AU  - Y. N. Ng
PY  - 2021
DA  - 2021/11/23
TI  - Corporate Social Responsibility and Financial Performance in Hospitality Industry: A Critical Review
BT  - Proceedings of the 7th International Conference on Social Science and Higher Education (ICSSHE 2021)
PB  - Atlantis Press
SP  - 135
EP  - 139
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211122.072
DO  - 10.2991/assehr.k.211122.072
ID  - Lyu2021
ER  -