Determinants to the implementation of corporate social responsibility in the maritime industry: a quantitative study

Abstract

Corporate social responsibility (CSR) has evolved to a leading subject for both academic research and management practice. Although several standpoints exist to approach theoretical and practical implementation issues, however, CSR is, mostly, perceived as a managerial tactic that integrates and deals with sustainability challenge. The International Maritime Organization (IMO) has already attempted to align its policy with United Nation’s (UN’s) latest sustainability mandates and, specifically, with UN's 2030 Agenda on Sustainable Development. In that respect, the Organization has committed itself to establish a sustainable maritime transportation system by founding sustainability initiatives in a wider CSR framework. Further to a study carried out to 50 tanker and dry bulk maritime companies, the aim of this study is to investigate and discuss restricting factors and driving forces associated with the implementation of CSR in shipping. Chi-square independence test and contingency coefficient statistical measures are employed to test formulated hypotheses. Findings imply that lack of training and appreciation of long-term benefits that CSR can bring to an organization constitutes a significant discouraging factor to CSR engagement. In terms of CSR drivers, increased trust and improved company's image and relationships with key stakeholders represent a key motivating factor to CSR implementation.