The impact of the environmental, social and governance dimensions of sustainability on firm risk in the hospitality and tourism industry

Constantino José García Martín · Begoña Herrero · Francisco Morillas

26 citations0/0 files storedCorporate Social Responsibility and Environmental Management

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Social Responsibility Reporting Environmental Sustainability in Business Sustainable Finance and Green Bonds

Abstract

Abstract This paper explores the relationship between adherence to corporate social responsibility goals and firm financial risk. Data on an international sample of 209 firms were collected for the period 2002 to 2022. Firm risk was proxied using stock return volatility and probability of default. The results show that the environmental performance of hospitality and tourism firms unequivocally influences firm risk, whether this risk is quantified as probability of default or volatility of stock market returns. This finding confirms that the adoption of environmentally sustainable and responsible practices is crucial not only for the environment but also for the stability of hospitality and tourism firms.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 26 citations exist upstream.

References

1997The Company and the Product: Corporate Associations and Consumer Product Responses 2013Corporate social responsibility and access to finance 2008The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis 2005The Relationship Between Corporate Philanthropy And Shareholder Wealth: A Risk Management Perspective 1974On the Pricing of Corporate Debt: The Risk Structure of Interest Rates 2010Corporate Social Responsibility as a Conflict Between Shareholders 2000Corporate Social Performance As a Competitive Advantage in Attracting a Quality Workforce 2011Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility

Cited by

2024The Importance of International Volunteering for the Tourist Destination Image: Case Study in Barcelos (Portugal)2025Green ambidextrous leadership configurations and employee green innovation: a cognitive-affective processing system perspective on psychological mechanisms

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.