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The COVID-19 pandemic’s effects on SMEs and travel agencies: The critical role of corporate social responsibility

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  • Wang, Zankai
  • Le, Thanh Tiep

Abstract

This study is based on the system resilience framework, which outlines the aspects of community behavior, employees, the environment, history, and corporate social responsibility. We used a partial least squares structural equation model to evaluate a sample of 300 Vietnamese SMEs and travel agencies. We discovered that SMEs’ strategies positively influence performance and are co-created with corporate social responsibility. The dependability of internal integrity was then determined. The empirical results showed that the overall confidence index for all facilities ranged from 0.70 to 0.95, with values ranging from 0.809 to 0.931. Furthermore, the A and Cronbach’s alpha reliability values ranged from 0.70 to 0.90. As a result, the reliability of internal consistency was established. The convergence validity of the configurations was assessed by comparing the extracted mean values of variance (AVE), which, for all configurations, exceeded the limit of 0.50. This approach emphasizes the impact of corporate social responsibility practices on communities, the environment, and heritage.

Suggested Citation

  • Wang, Zankai & Le, Thanh Tiep, 2022. "The COVID-19 pandemic’s effects on SMEs and travel agencies: The critical role of corporate social responsibility," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 46-58.
    • Handle: RePEc:eee:ecanpo:v:76:y:2022:i:c:p:46-58
    DOI: 10.1016/j.eap.2022.07.008
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    2. Fabio Blanco-Mesa & Ernesto Leon-Castro, 2023. "Fuzzy Analysis of the Strategic Actions of Travel Agencies in Boyacá, Colombia, in a Post-COVID-19 Era," Sustainability, MDPI, vol. 15(21), pages 1-22, October.

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