In this study, we examined whether organizational maturity influences the adoption of modern performance measurement tools and digital performance management systems, as well as the perceived effectiveness of traditional financial ratios, in the shipping industry. Grounded in the Technology-Organization-Environment (TOE) framework and complemented by institutional and contingency perspectives, we assessed whether structural longevity drives modernization in performance infrastructures. Using survey-based evidence from 164 Greek shipping management firms, we estimated logistic models for adoption outcomes and OLS and ordered logit models for evaluative perceptions, supported by robustness checks and diagnostics. The findings indicated that organizational maturity, operationalized as years of operation, is negatively associated with the adoption of modern performance tools and digital systems, but shows no statistically significant relationship with the perceived effectiveness of traditional financial ratios. These results challenge the assumption that experience and historical presence inherently foster technological advancement. Instead, maturity appears to reflect institutional embeddedness and structural stability rather than readiness for innovation. By distinguishing structural longevity from adaptive capacity, we refine the organizational dimension of the TOE framework. Moreover, our work contributes to a more nuanced understanding of modernization trajectories in capital-intensive, institutionally embedded industries. The results further suggest that adoption behavior and evaluative practices may evolve asymmetrically, with implications for theory development and managerial strategies to upgrade performance management infrastructures.
Citation: Vasileios Christos Naoum, Dimitris Kalliafas, Dimitris Balios. Performance measurement and digitalization: Evidence from shipping companies[J]. Quantitative Finance and Economics, 2026, 10(2): 355-377. doi: 10.3934/QFE.2026015
In this study, we examined whether organizational maturity influences the adoption of modern performance measurement tools and digital performance management systems, as well as the perceived effectiveness of traditional financial ratios, in the shipping industry. Grounded in the Technology-Organization-Environment (TOE) framework and complemented by institutional and contingency perspectives, we assessed whether structural longevity drives modernization in performance infrastructures. Using survey-based evidence from 164 Greek shipping management firms, we estimated logistic models for adoption outcomes and OLS and ordered logit models for evaluative perceptions, supported by robustness checks and diagnostics. The findings indicated that organizational maturity, operationalized as years of operation, is negatively associated with the adoption of modern performance tools and digital systems, but shows no statistically significant relationship with the perceived effectiveness of traditional financial ratios. These results challenge the assumption that experience and historical presence inherently foster technological advancement. Instead, maturity appears to reflect institutional embeddedness and structural stability rather than readiness for innovation. By distinguishing structural longevity from adaptive capacity, we refine the organizational dimension of the TOE framework. Moreover, our work contributes to a more nuanced understanding of modernization trajectories in capital-intensive, institutionally embedded industries. The results further suggest that adoption behavior and evaluative practices may evolve asymmetrically, with implications for theory development and managerial strategies to upgrade performance management infrastructures.
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Vasileios Christos Naoum, Dimitris Kalliafas, Dimitris Balios. Performance measurement and digitalization: Evidence from shipping companies[J]. Quantitative Finance and Economics, 2026, 10(2): 355-377. doi: 10.3934/QFE.2026015
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