Corporate Social Responsibility (CSR) Revisited: The Case of International Shipping

48 Pages Posted: 9 Nov 2013

See all articles by Wolfgang Drobetz

Wolfgang Drobetz

University of Hamburg

Andreas G. Merikas

University of Piraeus

Anna Merika

American College of Greece (DEREE)

Efthymios G. Tsionas

Athens University of Economics and Business - Department of Economics

Date Written: November 7, 2013

Abstract

This study examines the relationship between Corporate Social Responsibility (CSR) and corporate performance using a sample of listed shipping companies. Recognizing heterogeneous CSR behavior across shipping companies, we employ Markov Chain Monte Carlo techniques for Bayesian inference and estimate the marginal effects of profitability and financial structure on our CSR index for each firm. The relationship between CSR behavior and corporate performance is positive for 52% and negative for 48% of the companies. This different impact of profitability on CSR behavior is attributable to the choice of the flag state and to the location of stock exchange listing.

Suggested Citation

Drobetz, Wolfgang and Merikas, Andreas G. and Merika, Anna and Tsionas, Efthymios (Efthymios) G., Corporate Social Responsibility (CSR) Revisited: The Case of International Shipping (November 7, 2013). Available at SSRN: https://ssrn.com/abstract=2351542 or http://dx.doi.org/10.2139/ssrn.2351542

Wolfgang Drobetz (Contact Author)

University of Hamburg ( email )

Moorweidenstrasse 18
Hamburg, 20148
Germany

Andreas G. Merikas

University of Piraeus ( email )

Piraeus, LA
Greece

Anna Merika

American College of Greece (DEREE) ( email )

Gravias 6,
Aghia Paraskevi
Athenes, 153-42
Greece

Efthymios (Efthymios) G. Tsionas

Athens University of Economics and Business - Department of Economics ( email )

76 Patission Street
GR-10434 Athens
Greece
+301 8203 (Phone)
+301 8203 301 (Fax)

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