Author
Soytaş, Mehmet Ali, Denizel, M., Uşar, Damla Durak, Ersoy, İ.
Publication Date
2017
Publication Place
-
Bandırma Onyedi Eylül University
Type
Periodical
Language
Turkish
Digital
Yes
Manuscript
No
Library
Özyeğin University
Library Asset ID
2148-029X
Record ID
de4b4011-ef9e-42cb-b0f4-4624d3fec4de
Library Location
Economics
Date
2017
Sample Text
Studies examining the relationship between sustainability and financial performance in the international literature have revealed contradictory findings. Although more studies found the sustainability effect positive, a significant number of studies found the relationship negative, and many studies did not find any significant relationship. This situation creates serious doubt about the direction of the relationship, and moreover, whether such a relationship exists still remains an important research question. In particular, considering that the data sets and variables used by the studies that find the relationship positive are very different from each other, the number of these studies is not sufficient to scientifically prove that the relationship is positive. In the Turkish literature, studies in this field have not been able to reach statistically sound results due to limited samples. In this study, the effect of sustainability on financial performance for Turkish companies is revealed. The analyzes were conducted on a large sample of 214 companies, obtained by combining CSRHUB and Wharton Research Data Services (WRDS) Compustat Global data sets. The results showed that sustainability has a positive impact on financial performance. In addition, as a result of our analysis, it has been determined that companies with foreign partners are in a more advantageous position in terms of both financial and sustainability compared to companies with domestic capital., The literature presents contradictory results on the relationship between corporate sustainability performance and corporate financial performance. The effect of sustainability on financial performance is mostly estimated as positive, but there are substantial numbers of studies that find a negative relationship and further, in some studies results are inconclusive. This casts doubt on the direction of this relationship and whether there is such a relationship at all still remains as an open question. The respective proportion of studies with positive outcomes is not distinct enough to reach a convincing scientific consensus, especially given that, these studies differ vastly in the measures and the datasets they use. There are only a few studies that investigate the link between financial performance and sustainability on Turkish firms and those studies suffer from small sample sizes. In this study, the link between corporate financial performance and corporate sustainability is demonstrated using a large dataset constructed by matching CSRHub and Wharton Research Data Services (WRDS) Compustat Global databases. Results suggest that there is a positive significant effect of sustainability on financial performance. Further, Turkish firms with foreign corporate partners perform better both in terms of sustainability and financial performance compared to their pure domestic counterparts.
Cilt
15
