Next Article in Journal
Understanding Acceptability towards Sustainable Transportation Behavior: A Case Study of China
Next Article in Special Issue
Business Model Innovation for Sustainable Performance in Retail and Hospitality Industries
Previous Article in Journal
Food Security for an Aging and Heavier Population
Previous Article in Special Issue
Business Models and Sustainability in Nature Tourism: A Systematic Review of the Literature
Article

Implementation of Integrated Management Systems and Corporate Social Responsibility Initiatives—A Romanian Hospitality Industry Perspective

1
Department of Finance, Credit and Accounting, Romanian-American University, Bucharest 012101, Romania
2
Department of Commerce, Economic Integration and Business Administration, Romanian-American University, Bucharest 012101, Romania
3
Department of Economics, Accounting and International Business, University of Craiova, Craiova 200585, Romania
4
Department of Finance, Banking and Financial Analysis, University of Craiova, Craiova 200585, Romania
*
Author to whom correspondence should be addressed.
Sustainability 2018, 10(10), 3684; https://doi.org/10.3390/su10103684
Received: 26 September 2018 / Revised: 11 October 2018 / Accepted: 12 October 2018 / Published: 15 October 2018
The growing market value of a company remains the main concern of the management, as well as of the shareholders. Implementing integrated management systems is not always easy and is not low-priced either, but the benefits to clients, management, employees, or shareholders are considerable. At the same time, the involvement of companies in corporate social responsibility activities represents a return of part of the benefits to the community, the benefits being found on multiple plans for all the stakeholders. Through this study, we aim to identify the effects of implementing integrated management systems and quantify the influence of corporate social responsibility initiatives on the market value of hospitality industry companies in Romania. Analyzing the results of the study demonstrates the existence of a direct correlation between the implementation of integrated management systems and the evolution of the economic performance of the companies. Also, the results reveal a positive correlation between the existence of corporate social responsibility initiatives and the increase of the market value of Romanian hotel industry companies. View Full-Text
Keywords: hospitality industry; integrated management system; market value; sustainable hospitality; social responsibility hospitality industry; integrated management system; market value; sustainable hospitality; social responsibility
Show Figures

Figure 1

MDPI and ACS Style

Ionescu, G.H.; Firoiu, D.; Pîrvu, R.; Bădîrcea, R.; Drăgan, C. Implementation of Integrated Management Systems and Corporate Social Responsibility Initiatives—A Romanian Hospitality Industry Perspective. Sustainability 2018, 10, 3684. https://doi.org/10.3390/su10103684

AMA Style

Ionescu GH, Firoiu D, Pîrvu R, Bădîrcea R, Drăgan C. Implementation of Integrated Management Systems and Corporate Social Responsibility Initiatives—A Romanian Hospitality Industry Perspective. Sustainability. 2018; 10(10):3684. https://doi.org/10.3390/su10103684

Chicago/Turabian Style

Ionescu, George H.; Firoiu, Daniela; Pîrvu, Ramona; Bădîrcea, Roxana; Drăgan, Cristian. 2018. "Implementation of Integrated Management Systems and Corporate Social Responsibility Initiatives—A Romanian Hospitality Industry Perspective" Sustainability 10, no. 10: 3684. https://doi.org/10.3390/su10103684

Find Other Styles
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop