This study uses the data envelopment analysis (DEA) double bootstrap approach to assess the technical efficiency standing of Australian hotels. Two inputs and six outputs were used in the analyses for the period 2004-2007. The empirical results indicate that the DEA bootstrap approach corrects for the bias inherent in traditional DEA models. The results show that the average technical efficiency of Australian hotels has improved gradually from 76.17% in 2004 to reach its highest level of 80.84% in 2007. The results also indicate that the key determinants of the technical efficiency of Australian hotels are the number of years in business, location, star rating and physical size. The implications of the results are discussed.

This study examines whether corporate social responsibility (CSR) reduces information asymmetry (IA). Using a firm-level CSR dataset of Australian publicly listed firms from 2004 to 2014, we estimate IA models using a fixed-effects panel estimator. We find that CSR performance is negatively associated with IA. Moreover, this negative relationship is stronger for larger firms and firms with stronger market power. We also find that the negative association between CSR and IA decreases for firms with a high level of equity risk. Our results are robust to alternative measures of CSR and IA, model specifications and endogeneity controls. JEL Classification: D82, G34, M14

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