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
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