Corporate social responsibility and classical competitive strategies of maritime transport firms: A contingency-fit perspective. (April 2017)

• Record Type: Journal Article
• Authors: Yuen, Kum Fai; Thai, Vinh V.; Wong, Yiik Diew
• Is Part Of: Transportation research. Volume 98(2017)
• Page Start: 1
• Page End: 13
• Publication Date: 2017-04
• Subjects: Corporate social responsibility -- Classical competitive strategies -- Financial performance -- Strategic management -- Contingency theory -- Path dependence theory -- Maritime transport; Transportation -- Research -- Periodicals; 388.011
• DOI: 10.1016/j.tra.2017.01.020
• Languages: English
• ISSNs: 0965-8564

Abstract

Highlights: The fit between competitive strategies and corporate social responsibility (CSR) was examined. Shipping firms employing low-cost strategy receive less benefit from implementing CSR. Shipping firms employing differentiation strategy receive more benefits from implementing CSR. Abstract: Drawing on path dependence theory, this paper argues that the financial benefits from engaging Corporate Social Responsibility (CSR) are contingent on the primary competitive strategy employed by shipping firms. Survey data were collected from 223 shipping firms operating in Singapore and analysed using hierarchical regression modelling. The results reveal that there are greater financial benefits for shipping firms employing the strategy of differentiation (rather than that of low-cost) to implement CSR by virtue of greater mass in existing complementary resources (operational fit) as well as inherent congruency with customers' value orientation (customer fit).