Findings in the various levels of linkage between corporate social responsibilities and firms' financial performance in different major kinds of shipping market can be helpful in improving effective decision-making of both capital investment and corporate finance. This research shows two main models for panel data regression analysis, namely, Maritime Service Model, and Maritime Regional Model. These models can distinguish the relationship between corporate social responsibilities and firms' financial performance in specific models of shipping industry. Results show that a company's involvement in CSR activities affects financial performance as current state (ROA, ROE) rather than financial performance as expected state (Tobin Q). In Maritime Service Model, container firms are considered to have strong positive significant impacts on firms’ financial performance. Similarly, in Maritime Regional Model, shipping companies in East Asia Pacific wherein most firms include container service have firmly positive significant relationship between CSR performing indicator and firm's financial performance. The research's distribution will give great benefits towards stock investor and manager between shipping industries since the results demonstrate the different levels of how shipping firms worldwide react to the increment of CSR activities with various approaches.

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