Abstract
In times of financial distress, companies are forced to cut their expenditures to survive. The devastating effects of COVID-19 on the global economy once again brought this issue to the fore. Therefore, this study investigates the effect of environmental performance spending on the financial performance of US tourism firms. Empirical results reveal a U-shaped relationship between these variables. Our findings imply that although under financial distress, the environmental targets may cease to be a priority for the company in the short run, and better environmental performance will enhance financial performance in the long run.
| Original language | English |
|---|---|
| Title of host publication | Sustainable Development in Banking and Finance - 7th International Conference on Banking and Finance Perspectives |
| Editors | Nesrin Ozatac, Nigar Taspinar, Bezhan Rustamov |
| Publisher | Springer Nature |
| Pages | 1-5 |
| Number of pages | 5 |
| ISBN (Print) | 9783031655326 |
| DOIs | |
| Publication status | Published - 2024 |
| Event | 7th International Conference on Banking and Finance Perspectives, ICBFP 2023 - Famagusta, Cyprus Duration: 19 Oct 2023 → 20 Oct 2023 |
Publication series
| Name | Springer Proceedings in Business and Economics |
|---|---|
| ISSN (Print) | 2198-7246 |
| ISSN (Electronic) | 2198-7254 |
Conference
| Conference | 7th International Conference on Banking and Finance Perspectives, ICBFP 2023 |
|---|---|
| Country/Territory | Cyprus |
| City | Famagusta |
| Period | 19/10/23 → 20/10/23 |
Bibliographical note
Publisher Copyright:© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
Keywords
- COVID-19
- Economic Recession
- Environmental Performance
- ESG
- Financial Performance