DEI management and firm performance in the hospitality industry: the moderating role of country-level DEI climate
研究了酒店企业层面的多样性、公平与包容（DEI）实践如何影响财务绩效，发现两者呈U型曲线关系，且国家层面的DEI气候会削弱这种关系，对跨国酒店管理者制定DEI策略有参考价值。
This study investigates how diversity, equity, and inclusion (DEI) practices at the firm level influence financial performance within the hospitality industry. Using the institutional theory, it further examines the moderating role of the country-level DEI climate. The analysis includes publicly traded hospitality firms from 32 countries over the period 2020 to 2022. The results showed a U-shaped curvilinear association between firm-level DEI practices and financial performance as well as a negative moderating effect of the country-level DEI climate. Going beyond the generic managerial context, this study extends the existing literature by utilizing a holistic approach considering both firm- and institutional-level factors when examining the association between DEI initiatives and financial performance. The study highlights the need to consider the institutional and cultural contexts when formulating strategies pertaining to DEI management practices.