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Title: Creating value through sustainable business practices
Authors: Lim, Christine
Chong, Yong Xin
Sutjipto, Melissa
Keywords: DRNTU::Business::International business
Issue Date: 2012
Source: Lim, C., Chong, Y. X., & Sutjipto, M. (2012). Creating value through sustainable business practices. European journal of tourism research, 5(2), 118-128.
Series/Report no.: European journal of tourism research
Abstract: The objective of this paper is to undertake a case study of Auckland International Airport and to examine how its sustainable business practices can create stakeholder value. Auckland Airport is the largest airport and the main gateway into New Zealand for international tourists. The paper investigates the impact of corporate growth-strategy announcement on the formation of a joint venture to build a 4-star airport hotel using an event study approach. The new hotel creates economic value to Auckland Airport as it is expected to generate considerable long term tourism revenue to the company. Additionally, it can stimulate economic growth and employment for the Auckland region as its proximity to the largest airport in the country attracts airline crews and transit passengers, and the hotel offers meeting facilities for MICE tourism. We found that the New Zealand share market's reaction to the hotel joint venture announcement on 23 July, 2009, as proxied by the stock returns, to be significant. Economic value creation or business profitability of a firm can be used to create societal value. Auckland International Airport has invested in socially responsible environmental and socio-cultural initiatives to create value for its stakeholders, as discussed in the latter half of the study.
Rights: © 2012 International University College. This paper was published in European Journal of Tourism Research and is made available as an electronic reprint (preprint) with permission of International University College. The paper can be found at the following official URL: [;jsessionid=1039EAA2352593172874C54F24AB9452]. One print or electronic copy may be made for personal use only. Systematic or multiple reproduction, distribution to multiple locations via electronic or other means, duplication of any material in this paper for a fee or for commercial purposes, or modification of the content of the paper is prohibited and is subject to penalties under law.
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:NBS Journal Articles

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