ESG Performance and Financial Metrics in the Greek Passenger Shipping Sector: An Empirical Analysis using DEA and Econometric Models
Keywords:
ESG Performance, technical efficiency, DEA , Econometric Analysis, Passenger ShippingAbstract
This study examines the relationship between ESG performance and financial stability in the Greek passenger shipping industry. A customized ESG Proxy is developed and applied to 17 firms over the period 2015–2023. Technical efficiency is assessed using an input‑oriented Data Envelopment Analysis (DEA ), while the financial determinants of ESG performance are examined through Pooled OLS, Fixed Effect, and Logit models. The results show that ESG performance is positively associated with technical efficiency and profitability, and negatively related to credit risk and financial leverage, while firm size also exerts a positive effect. Overall, the findings highlight the strategic relevance of ESG adoption for sustainable growth and provide a practical assessment framework for sectors lacking standardized ESG rating systems, contributing to enhanced transparency and competitiveness in the passenger shipping industry.
Downloads
Published
Issue
Section
Categories
License
Copyright (c) 2026 Athanasia Mavrommati, Alexandra Pliakoura, Fotios Chatzitheodoridis
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Scientific Journal of Maritime Research understands the need for authors to disseminate and maximize the impact of their research. When submitting an article for publishing in Scientific Journal of Maritime Research, it implies that the Corresponding Author transfers, with the consent of all Coauthors, the copyright ownership in the referenced submission, including all versions in any format now known or hereafter developed, to the Scientific Journal of Maritime Research.
Copyright protects your original work and research material and prevents others from using it without your permission. Others will be required to credit you and your work properly, thus increasing its impact. Should your submission be rejected or withdrawn prior to acceptance for publication by Scientific Journal of Maritime Research, this transfer will be null and void.
Authors, users or readers of an article need clear instructions on how they can use the article. Scientific Journal of Maritime Research uses the Creative Commons Attribution-NonCommercial-NoDerivatives (CC-BY-NC-ND) 4.0 International License, which governs the use, publishing and distribution of articles by authors, publishers and the wider general public.
The authors are allowed to post a digital file of the published article, or the link to the published article (Scientific Journal of Maritime Research web page) may be made publicly available on websites or repositories, such as the Author’s personal website, preprint servers, university networks or primary employer’s institutional websites, third party institutional or subject-based repositories, and conference websites that feature presentations by the Author(s) based on the published article, under the condition that the article is posted in its unaltered Scientific Journal of Maritime Research form, exclusively for non-commercial purposes.
