| Author: | Lee, Donghwa |
| Title: | ESG (environment, social, governance) scale development for integrated resorts : focus on the perceptions of residents regarding sustainability |
| Advisors: | Lee, Jinsoo (SHTM) |
| Degree: | DHTM |
| Year: | 2023 |
| Subject: | Resorts -- Management Sustainable tourism Hong Kong Polytechnic University -- Dissertations |
| Department: | School of Hotel and Tourism Management |
| Pages: | viii, 146 pages |
| Language: | English |
| Abstract: | Environment, Social, and Governance (ESG) is a set of standards for a company's operations that focus on how it manages its environmental impact, treats its employees and other stakeholders, and adheres to good corporate governance practices. ESG is one of the most important concepts these days in both managerial and literature aspects. Scholars and business operators are paying increasing attention to ESG initiatives because it has been a way to assess the sustainability of a company's operations and its potential for long-term success. For this reason, investors are paying attention to whether the company is adhering to its sustainable development practices (Jain et al, 2019). As the need for and supply of information regarding companies' sustainability performance increases, many investors are voicing their concerns that the ESG data landscape is becoming too complex and confusing. Previous research has demonstrated that rating agencies and data vendors have very little consensus on how to create and utilize ESG metrics. For example, there are currently over 500 ESG indices in existence, with more being created every year. The problem with this is that there is no standardization or consistency across the different indices. Each index has its own criteria and methodology for evaluating companies, which can lead to confusion and difficulty in comparing them. In addition to that, despite the many methods for measuring ESG, almost all of them have some limitations. One of the various limitations is that the ESG measures currently in use do not accurately reflect stakeholders' perceptions (Dimson et al, 2020). ESG is becoming an increasingly important issue in the tourism industry. However, there has been a problem in that the ESG index, a concept for measuring corporate sustainability, has not yet reflected the perceptions of residents. Tourism development has a significant social, economic, and environmental impact on the region; therefore, in order to develop a sustainable tourism industry, it is necessary to fully explain the positive and negative impacts of tourism development on the region to local residents and obtain their agreement (Ionescu et al, 2019). Integrated resort development is a type of development that combines a variety of leisure, entertainment, and hospitality facilities into one large complex. This type of development is becoming increasingly popular in Asia, as it allows for a more comprehensive and efficient experience. However, in many parts of Asia, the development of integrated resorts is causing friction between company and residents. To overcome such a problem, it is necessary to identify the needs of local residents and incorporate them into the development plan. Under these circumstances, the purpose of this study is to provide an original, valid, and reliable measure of ESG reflecting the perceptions of residents living in the region around the integrated resort. A measurement scale for analyzing the perception of residents living around the integrated resort was developed through a systematic scale development process. First, items that could be included in the ESG concept were extracted from variables used in previous CSR studies through literature research. Second, new items were developed through interviews with experts. Thirdly, questionnaires were collected from residents to confirm the reliability and validity of the measurement concept. Specifically, data was collected from 530 residents of Jeju Island in Korea. For testing the measurement variables developed from this study, exploratory factor analysis was conducted to determine the underlying factorial structure of the scale. In addition, confirmatory factor analysis was conducted to confirm the validity of the developed scale, and predictive validity was also analyzed by setting the support of local residents used in previous studies as the dependent variable. The measurement scale developed from this study is consists of 31 variables corresponding to E, S, and G activities extracted from previous studies related to CSR activities and 13 new variables drawn through interviews with experts on integrated resorts, casinos, and sustainability. The EFA revealed that most items were meaningful in constructing the ESG dimensions. The results of regression analysis confirmed that the scale has validity, As a result of confirmatory factor analysis and regression analysis, it was found that the scale has validity. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 7001.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 2.67 MB | Adobe PDF | View/Open |
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