CSRHub data was used as a major resource for a recent academic paper. The study examines the effect of Covid-19 on the U.S. tourism and hospitality industry, and the impact CSR practices have on firms' success responding to Covid-19.
The journal article, Are Socially Responsible Firms in the U.S. Tourism and Hospitality Industry Better Off During COVID-19? was published in the leading travel management journal, Tourism Management. The article was researched, developed, and written by Jihwan Yeon, Hyoung Ju Song, Heyao Yu, Ph.D., Yue Vaughan, Ph.D., and Seoki Lee, Ph.D.. CSRHub is one of the 4 major resources used in the study, and the only CSR-data provider of the four.
The study found that hospitality firms, like casinos, hotels, and restaurants, experience a 7.7% decrease in stock returns for every 1% increase of Covid-19. With the Covid-19 weekly growth rate averaging 34.1%, this had a devastating effect on the tourism industry. The study found that the practice of CSR strategies helped to alleviate the strong negative effects of the pandemic.
To take a deeper dive into the study's findings and analysis, see Are Socially Responsible Firms in the U.S. Tourism and Hospitality Industry Better Off During COVID-19?
CSRHub offers one of the world’s broadest and most consistent set of Environment, Social, and Governance (ESG) ratings, covering 20,000 companies. Its Big Data algorithm combines millions of data points on ESG performance from hundreds of sources, including leading ESG analyst raters, to produce consensus scores on all aspects of corporate social responsibility and sustainability. CSRHub ratings can be used to drive corporate, investor and consumer decisions. For more information, visit www.CSRHub.com. CSRHub is a B Corporation.
Tweet me: CSRHub's data was used to study the impact that CSR strategies had on alleviating the negative effects of the Covid-19 pandemic on the tourism and hospitality industry. https://bit.ly/3m8YlYZ
KEYWORDS: CSR, COVID-19, Corporate Sustainability Metrics, impact, CSRHUB