The Impact of Corporate Social Responsibility on Firm Value During the COVID-19 Pandemic: From the Perspective of the Malaysian Tourism Industry

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Author(s): Lin Woon Leong (Taylor's University, Malaysia)and Song Bee Lian (Taylor's University, Malaysia)
Copyright: 2022
Pages: 17
Source title: Handbook of Research on Changing Dynamics in Responsible and Sustainable Business in the Post-COVID-19 Era
Source Author(s)/Editor(s): Cristina Raluca Gh. Popescu (University of Bucharest, Romania & The Bucharest University of Economic Studies, Romania & TheNational Institute for Research and Development in Environmental Protection (INCDPM), Romania& National Research and Development Institute for Gas Turbines (COMOTI), Romania)
DOI: 10.4018/978-1-6684-2523-7.ch010

Keywords: Business and Organizational Research / Business Science Reference / Environment & Agriculture / Sustainable Development

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Abstract

In this chapter, the authors have investigated the effect of CSR on firm value during the pandemic. They used the event study technique and noted that an engagement in the CSR activities increases the stock returns to the hospitality firms during a pandemic crisis. The results showed that the hospitality firms that showed a better stock market performance during the pandemic invested in CSR activities. This would indicate a theoretical application and practical implication on their business duties towards the society, and any future research in CSR would allow them to successfully handle a critical disaster like this pandemic in the future.

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The Impact of Corporate Social Responsibility on Firm Value During the COVID-19 Pandemic: From the Perspective of the Malaysian Tourism Industry

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