The impact of the Covid-19 pandemic on the compensation of top managers of the CSR organizations in the field of tourism and hospitality in EU

This paper investigates the impact of the Covid-19 pandemic on the compensation of top managers and business performances of large socially responsible companies CSRin EU in tourism and hospitality industry. By applying the methods of correlation and regression analysis on a sample of 241 large organizations in the field of tourism and hospitality, we examined whether the Covid-19 pandemic caused a decrease in the total compensation of top managers and some of their parts (basic salary and variable part of compensation) and a change in their structure in a socially responsible company in the field of tourism and hospitality in the EU and how these changes in return affected the performance of the mentioned organizations measured by return on investment ROE. The results showed that there was a significant decrease in the total compensation of top managers in the observed companies during 2020 and 2021compared to 2019, as well as that there was an increase in the share of the basic salary (to the detriment of the variable part) in the total earning of top managers in the same period. The results also showed that changes in the compensation of top managers due to the pandemic had a significant impact on the performance of large socially responsible companies in the tourism and hospitality industry in EU that they lead.