Article: Corporate social responsibility as sustainability management: international shipping firms and financial performance Journal: International Journal of Shipping and Transport Logistics (IJSTL) 2023 Vol.16 No.1/2 pp.120 - 140 Abstract: Sustainability shipping management is analysed via the relationship between corporate social responsibility (CSR) activities and financial performance. Panel data analysis with mixed-effect models is applied for the study period from 2008 to 2016. Container shipping shows significant positive influences of environmental and social activities on asset utilisation efficiency and improvements of current financial performance compared with only environmental activities. Moreover, dry bulk and tanker firms show significant positive influences from social activities on improving the expected financial performance. East Asia-Pacific shipping firms show significant influence from environmental activities on improving financial performance, while their counterparts derive from environment and social activities to improve asset utilisation efficiency and current financial performance. Despite the insignificant influence from CSR activities on expected financial performance, social activities exert significant negative influence on American, European, and South African shipping firms. Investors evaluate asset utilisation efficiency and current financial values via returns on assets and returns on equity in CSR engagement for shipping firms. Inderscience Publishers - linking academia, business and industry through research

Title: Corporate social responsibility as sustainability management: international shipping firms and financial performance

Authors: Ann Shawing Yang; Suphathus Mekrangsiman

Addresses: Institute of International Management, National Cheng Kung University, 1, University Road, Tainan 701, Taiwan ' Institute of International Management, National Cheng Kung University, 1, University Road, Tainan 701, Taiwan

Abstract: Sustainability shipping management is analysed via the relationship between corporate social responsibility (CSR) activities and financial performance. Panel data analysis with mixed-effect models is applied for the study period from 2008 to 2016. Container shipping shows significant positive influences of environmental and social activities on asset utilisation efficiency and improvements of current financial performance compared with only environmental activities. Moreover, dry bulk and tanker firms show significant positive influences from social activities on improving the expected financial performance. East Asia-Pacific shipping firms show significant influence from environmental activities on improving financial performance, while their counterparts derive from environment and social activities to improve asset utilisation efficiency and current financial performance. Despite the insignificant influence from CSR activities on expected financial performance, social activities exert significant negative influence on American, European, and South African shipping firms. Investors evaluate asset utilisation efficiency and current financial values via returns on assets and returns on equity in CSR engagement for shipping firms.

Keywords: corporate social responsibility; CSR; sustainability management; environmental performance; social performance; financial performance; return on equity; Tobin’s Q; shipping firms; container shipping; dry bulk shipping; tanker shipping; panel data regression; fixed-effect model; random-effect model.

DOI: 10.1504/IJSTL.2023.128553

International Journal of Shipping and Transport Logistics, 2023 Vol.16 No.1/2, pp.120 - 140

Accepted: 14 Apr 2021
Published online: 26 Jan 2023 *

Title: Corporate social responsibility as sustainability management: international shipping firms and financial performance

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