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1 – 2 of 2Jyoti Dua and Anil Kumar Sharma
The mounting focus on environmental, social and governance (ESG) factors in business has sparked substantial curiosity in understanding the nexus between ESG and the companies’…
Abstract
Purpose
The mounting focus on environmental, social and governance (ESG) factors in business has sparked substantial curiosity in understanding the nexus between ESG and the companies’ strategic decisions. This study aims to investigate the influence of firms’ ESG disclosure scores on their dividend payout. Furthermore, it examines the nuanced dynamics of this relationship by exploring the moderating role of the country’s investor protection regulations and regulatory enforcement.
Design/methodology/approach
This study uses pooled ordinary least square regression with year, industry and country effects. It analyzes a balanced panel data set of 192 non-financial firms drawn from the primary equity indices of BRICS nations. This study examined the data of six years spanning 2015–2020.
Findings
The findings discover a significantly positive relationship between ESG scores and dividend payout ratio, conveying that firms with higher ESG scores allocate more of their profits as dividends. Furthermore, the finding reveals that country-level robust investor protection and effective regulatory enforcement mechanisms undermine the positive association between ESG ratings and payouts of dividends, suggesting that the ESG disclosure of firms operating in a setting characterized by enhanced investor safeguards and stricter regulatory oversight will exert less influence on their dividend decisions.
Originality/value
To the best of the authors’ knowledge, this is the first study to concentrate on the ESG–dividend nexus in the BRICS countries. Furthermore, this study used each country’s investor protection index and regulatory enforcement scores to comprehend the influence of country-level legal frameworks in shaping the relationship between ESG and dividend decisions, thus adding value to the existing literature on corporate sustainability.
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Dori Davari, Pooya Alaedini and Liping A. Cai
By adopting a cultural lens, this study aims to conceptualize destination-community hospitality to capture societal hospitality at the destination as an intangible asset…
Abstract
Purpose
By adopting a cultural lens, this study aims to conceptualize destination-community hospitality to capture societal hospitality at the destination as an intangible asset. Destination-community hospitality comprises a set of attitudes and traits that are organically conveyed by community members and directly experienced by tourists. The paper contributes to efforts aimed at freeing hospitality from the confines of commercial lodging and food and beverage establishments.
Design/methodology/approach
This study proposes an affection–attention–awareness (AAA) framework by drawing on the pertinent literature and leveraging the affective–behavioral–cognitive model of attitudinal change. It focuses on the effects of cognition in conceptualizing destination-community hospitality as the core of the framework. Methodologically, the framework is illustrated with qualitative data including observational fieldwork and interviews conducted in Iran.
Findings
Illustration of the AAA framework in the context of Iran highlights how welcoming attitudes are leveraged at a destination as an ingrained community mindset even in the absence of formal initiatives or professional training. It underscores the hospitality advocacy role of local-community members irrespective of public-sector policy and capacity deficiencies.
Practical implications
Destinations that strive to attract tourists should tap into the significant wealth of intuitive hospitality within communities as an intangible resource. The ingenuity should be preserved to sustainably enhance the overall tourist experiences. The framework can serve as a guide to strategically facilitate destination-community hospitality.
Originality/value
Research on community-wide hospitality at destinations, as a major cultural asset in the context of strategic hospitality management, remains underdeveloped. With illustrative evidence, the findings elevate the critical role of community members as innate advocates of hospitality in developing destinations. The proposed framework of destination-community hospitality provides a new perspective and impetus for investigating hospitality beyond commercial domains.
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