Corporate social responsibility Feng Shui and firm value

被引：2
|
作者：
Wang, Kewen [1 ,6 ]
Li, Jingqiang [2 ]
Qiao, Yuanbo [3 ,4 ,5 ]
Chang, Shilong [1 ]
机构：
[1] Qingdao Univ, Sch Tourism & Geog Sci, Qingdao 266071, Peoples R China
[2] Beijing Wuzi Univ, Business Sch, Beijing 101149, Peoples R China
[3] Shandong Univ, Inst Studies Cty Dev, Qingdao 266237, Peoples R China
[4] Shandong Univ, Ctr Yellow River Ecosyst Prod, Qingdao 266237, Peoples R China
[5] Shandong Univ, Qingdao Inst Humanities & Social Sci, Qingdao 266237, Peoples R China
[6] 308 Ningxia Rd, Qingdao 266071, Shandong, Peoples R China
来源：
ANNALS OF TOURISM RESEARCH | 2024年 / 105卷
基金：
中国国家自然科学基金;
关键词：
Protective effect; CSR; Feng Shui; Lucky stock codes; Firm value; Hospitality and tourism firms; SUPERSTITIOUS BELIEFS; LUCKY NUMBERS; STRATEGY; TOURISM;
D O I：
10.1016/j.annals.2024.103737
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The evidence supporting the protective effect of pre-COVID-19 corporate social responsibility (CSR) on firm value during the COVID-19 pandemic remains vague. In times of crisis, Feng Shui philosophy can serve as a decision-making criterion for Chinese investors to trade stocks because a lucky stock code can provide investors with a feeling of control when facing great challenge, stress, and uncertainty. This study examines the impact of pre-COVID-19 corporate social responsibility (CSR) on hospitality and tourism firm value during COVID-19 and the moderating effect of lucky stock codes. The results show that pre-COVID-19 corporate social responsibility (CSR) has a U-shaped impact on firm value and that the U-shaped effect is more pronounced for firms with a luckier stock code.
引用
收藏
页数：14
相关论文
共 50 条
  • [1] Corporate social responsibility, competition, and firm value
    Gupta, Kartick
    Krishnamurti, Chandrasekhar
    [J]. PACIFIC-BASIN FINANCE JOURNAL, 2021, 68
  • [2] Corporate Social Responsibility and Firm Value Protection
    Ogachi, Daniel
    Zoltan, Zeman
    [J]. INTERNATIONAL JOURNAL OF FINANCIAL STUDIES, 2020, 8 (04): : 1 - 22
  • [3] Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility
    Jo, Hoje
    Harjoto, Maretno A.
    [J]. JOURNAL OF BUSINESS ETHICS, 2011, 103 (03) : 351 - 383
  • [4] Corporate Governance and Firm Value: The Impact of Corporate Social Responsibility
    Hoje Jo
    Maretno A. Harjoto
    [J]. Journal of Business Ethics, 2011, 103 : 351 - 383
  • [5] Corporate social responsibility, media freedom, and firm value
    Chang, Kiyoung
    Shim, Hyeongsop
    Yi, Taihyeup David
    [J]. FINANCE RESEARCH LETTERS, 2019, 30 : 1 - 7
  • [6] Corporate Social Responsibility, Product Strategy, and Firm Value
    Cho, Eunho
    Tsang, Albert
    [J]. ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, 2020, 49 (02) : 272 - 298
  • [7] Terrorist Attacks, Corporate Social Responsibility, and Firm Value
    Do, Trung K.
    Huang, Henry Hongren
    Tsang, Albert
    [J]. INTERNATIONAL JOURNAL OF ACCOUNTING, 2024,
  • [8] The Influence of Corporate Social Responsibility Disclosure on Firm Value
    Purwanto, Agus
    [J]. ADVANCED SCIENCE LETTERS, 2017, 23 (08) : 7042 - 7045
  • [9] A Study on Corporate Governance, Social Responsibility and Firm Value
    Yu Xiaohong
    Wu Wenjing
    [J]. PROCEEDINGS OF THE SEVENTH INTERNATIONAL SYMPOSIUM - CORPORATE GOVERNANCE, 2013, : 3 - 10
  • [10] Local religious norms, corporate social responsibility, and firm value
    Zolotoy, Leon
    O'Sullivan, Don
    Chen, Yangyang
    [J]. JOURNAL OF BANKING & FINANCE, 2019, 100 : 218 - 233
12345