CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda

Alatawi I. A., Ntim C. G., Zras A., Elmagrhi M. H.

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, vol.89, 2023 (SSCI) identifier identifier

  • Publication Type: Article / Review
  • Volume: 89
  • Publication Date: 2023
  • Doi Number: 10.1016/j.irfa.2023.102734
  • Journal Name: INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
  • Journal Indexes: Social Sciences Citation Index (SSCI), Scopus, ABI/INFORM, Business Source Elite, Business Source Premier, EconLit
  • Azerbaijan State University of Economics (UNEC) Affiliated: No

Abstract

This paper provides a comprehensive, international, multi-discipline and multi-methods systematic literature review (SLR) of the existing corporate social responsibility (CSR) and corporate financial performance and nonfinancial performance measures research in tourism firms. The objective is to synthesise, appraise and extend current understanding of the existing conceptual/theoretical/empirical literature on the relationship between CSR and corporate financial and non-financial performance measures. We adopt a three-step SLR approach to analyse/review one of the largest SLR datasets employed to-date, consisting of 140 multi-methods and theoretical CSR studies conducted globally across multiple disciplines over the 2004-2019 period, published in top ranked journals. Our findings are as follows. First, a large number of the existing studies are descriptive and/or draw on single rather than multi-theoretical perspectives. Second, existing studies have focused mainly on how CSR is related to financial performance measures to the neglect of non-financial performance measures. Third, observable methodological limitations include the dearth of qualitative, mixed-methods and cross-cultural/ developing/country studies. Finally, we outline opportunities for future research.