Sustainable Development of Corporate Governance in the Hospitality and Tourism Industry: The Evolution and the Future

Abstract

This study provides a systematic review of the content of the hospitality and tourism literature on corporate governance. The purpose of this study is to identify gaps in the existing research and practice context and to provide guidance for future research. Based on 174 peer-reviewed articles published since 2000, this paper employs a content analysis approach to identify eight major themes explored by scholars. The study found that most previous research on corporate governance mechanisms in tourism was conducted in developed regions and mostly used quantitative research methods. Shareholder governance, board governance, executive compensation incentives, social responsibility governance, reputation themes and corporate governance provisions received more academic attention than the themes of organizational structure governance and information disclosure. The systematic review in this paper helps to consolidate the existing literature and make recommendations to promote the field of corporate governance research in the hospitality and tourism industry and to provide a reference for the industry.

The Nonlinear Relationship between Corporate Social Responsibility and Hospitality and Tourism Corporate Financial Performance: Does Governance Matter?

“…However, these studies ignore the dynamic nature of CFP. In addition, other studies have investigated the impact of governance practices on CFP [60,61]. However, since CSR and governance practices are two distinct methodologies that share the same goals of transparency and trust among all stakeholders, tensions between them may emerge.…”

“…Research into the association between corporate governance and CSR has been a major focus in the literature within the framework of stakeholder theory. According to [60,61], good corporate governance helps create value for all stakeholders (including maximizing shareholder value) through investment in CSR activities. According to these authors, maximizing shareholder value is not only achieved through the integration of value for all stakeholders.…”