Abstract
This article analyzes the effect of green procurement --the adoption of specific purchasing policies requiring suppliers to apply environmental standards-- on the firm’s financial performance and the influence of international tourists’ characteristics, long-term orientation and spending behavior, on this relationship. Our sample includes 122 tourism firms with environmental information from Sustainalytics database for a seven-year period (years 2009 up to 2015) creating an unbalanced panel with 479 observations. We apply random effects Generalized Least Squares (GLS) Regressions to test the proposed relationship and find support for the moderating effects. Our study contributes to the tourism literature by emphasizing that the behavioral characteristics of tourists, as one of the most prominent stakeholders, play an important role in increasing financial performance when adopting proactive environmental practices.
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