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Corporate strategies and profitability of maritime logistics firms

Author

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  • Francesco Parola

    (Department of Business Studies, University of Naples ‘Parthenope’, Via Parisi 13, Naples, Italy.)

  • Giovanni Satta

    (Department of Economics and Management, University of Genoa, Via Vivaldi 5, Genoa, Italy.)

  • Photis M Panayides

    (Department of Commerce, Finance and Shipping, Cyprus University of Technology, 503293603 Limassol, Cyprus.)

Abstract

The inherent uncertainty, capital intensity and riskiness of investing in ships and port facilities have led to irregular corporate economic and financial performance for maritime logistics organizations. Although the relative impact of corporate strategy on firm profitability is a topic of considerable scientific and managerial interest, insights into contemporary issues in maritime logistics strategy are still limited. This article provides an exploratory contribution in bridging this gap, by measuring the effects of maritime logistics firm’s corporate strategy on overall financial performance. Empirical findings show that investments for growth, focalization on the core business, related diversification and vertical integration have a positive impact on corporate profitability, whereas unrelated diversification does not affect firm’s performance and international diversification has a negative effect. The outcomes are consistent with and add to the extant theoretical literature while insightful implications for research and practice are discussed.

Suggested Citation

  • Francesco Parola & Giovanni Satta & Photis M Panayides, 2015. "Corporate strategies and profitability of maritime logistics firms," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 17(1), pages 52-78, March.
    • Handle: RePEc:pal:marecl:v:17:y:2015:i:1:p:52-78
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    Citations

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    Cited by:

    1. González Laxe, Fernando, 2018. "El transporte marítimo y los desarrollos portuarios. El nuevo rol de las alianzas marítimas en el tablero internacional/The Maritime Transport and the Port Development. The New Role of the Maritime Al," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 36, pages 647-668, Septiembr.
    2. Marco Ferretti & Ugo Fiore & Francesca Perla & Marcello Risitano & Salvatore Scognamiglio, 2022. "Deep Learning Forecasting for Supporting Terminal Operators in Port Business Development," Future Internet, MDPI, vol. 14(8), pages 1-19, July.
    3. Satta, Giovanni & Notteboom, Theo & Parola, Francesco & Persico, Luca, 2017. "Determinants of the long-term performance of initial public offerings (IPOs) in the port industry," Transportation Research Part A: Policy and Practice, Elsevier, vol. 103(C), pages 135-153.
    4. Michał Pluciński & Izabela Kotowska & Marta Mańkowska & Ludmiła Filina-Dawidowicz, 2023. "Research on Diversification Strategies of Terminal Operators—Evidence from Polish Seaports," Sustainability, MDPI, vol. 15(7), pages 1-18, March.
    5. Vural, Ceren Altuntaş & Göçer, Aysu & Halldórsson, Árni, 2019. "Value co-creation in maritime logistics networks: A service triad perspective," Transport Policy, Elsevier, vol. 84(C), pages 27-39.
    6. Jheyce Milena Silva Barros & Brigitte Renata Bezerra Oliveira & Telma Lúcia Andrade Lima & Marcos Felipe Falcão Sobral, 2024. "Corporate strategy evaluation (CORE): a new method to measure strategies in organizations," SN Business & Economics, Springer, vol. 4(6), pages 1-18, June.
    7. Daniele Crotti & Claudio Ferrari & Alessio Tei, 2020. "Merger waves and alliance stability in container shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 22(3), pages 446-472, September.
    8. Notteboom, Theo E. & Parola, Francesco & Satta, Giovanni & Pallis, Athanasios A., 2017. "The relationship between port choice and terminal involvement of alliance members in container shipping," Journal of Transport Geography, Elsevier, vol. 64(C), pages 158-173.

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