Findings in Hospitality Management Reported from Hong Kong Polytechnic University (Corporate social responsibility and shareholder value of restaurant firms)
By a News Reporter-Staff News Editor at Leisure & Travel Week -- Investigators discuss new findings in Hospitality Management. According to news reporting from Hong Kong, People's Republic of China, by VerticalNews journalists, research stated, "In response to recent calls for understanding corporate social responsibility (CSR) and its influence on shareholder value, this study examined the effects of both CSR-strengthening (i.e., strengthening a firm's CSR reputation) and -concerning (i.e., potentially diminishing the reputation) activities of publicly listed restaurant firms on shareholder value."
The news correspondents obtained a quote from the research from Hong Kong Polytechnic University, "Unlike previous studies on CSR in hospitality literature that only focused on the level of stock returns, this study considered systematic risk as another important determinant of shareholder value. This study tested whether the CSR-strengthening and CSR-concerning actions of restaurant firms are associated with shareholder value based on systematic risk and Tobin's Q CSR-strengthening actions were found to enhance shareholder value by increasing Tobin's Q whereas CSR weakening actions reduce shareholder value by increasing the systematic risk of the firm."
According to the news reporters, the research concluded: "By analyzing the different effects of CSR-strengthening and CSR-concerning actions, this study provides interesting and important implications for hospitality literature and practitioners of restaurant firms."
For more information on this research see: Corporate social responsibility and shareholder value of restaurant firms. International Journal of Hospitality Management, 2014;40():120-129. International Journal of Hospitality Management can be contacted at: Elsevier Sci Ltd, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, Oxon, England. (Elsevier - www.elsevier.com; International Journal of Hospitality Management - www.elsevier.com/wps/product/cws_home/659)
Our news journalists report that additional information may be obtained by contacting M. Kim, Hong Kong Polytechnic University, Sch Hotel & Tourism Management, TST East, Kowloon, Hong Kong, People's Republic of China.
Keywords for this news article include: Asia, Hong Kong, Hospitality Management, People's Republic of China
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