Does the stock market value inclusion in a sustainability index? Evidence from Borsa Istanbul

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dc.authorid0000-0001-6036-0559en_US
dc.authorid0000-0002-9119-3252en_US
dc.authorid0000-0002-4773-1770en_US
dc.contributor.authorYılmaz, Mustafa Kemal
dc.contributor.authorAksoy, Mine
dc.contributor.authorTatoğlu, Ekrem
dc.contributor.authorTatoğlu, Ekrem
dc.contributor.authorYılmaz, Mustafa Kemal
dc.contributor.otherYönetim Bilimleri Fakültesi, İşletme Bölümü
dc.date.accessioned2020-01-17T11:43:31Z
dc.date.available2020-01-17T11:43:31Z
dc.date.issued2020en_US
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İşletme Bölümüen_US
dc.description.abstractThis study examines the relationships between corporate sustainability (CS) performance of the companies (proxied by inclusion in sustainability index) listed in Borsa Istanbul (BIST, Istanbul, Turkey) and market-specific company performance measures over the period of 2014–2017. The results show that there is no strong evidence of the effect of inclusion in or exclusion from the BIST Sustainability Index (BIST SI) on stock returns and systematic risk (betas) of companies. However, the results reveal that inclusion in the BIST SI reduces the total risk of the companies and protects them from stock declines in case of a severe crisis by improving their resilience compared to other companies not included in the BIST SI. Although no significant link is found concerning the impact of the companies’ inclusion on the level of foreign ownership, a positive association is noted between BIST SI inclusion and the level of institutional ownership.en_US
dc.identifier.citationYılmaz, M.K., Aksoy, M. ve Tatoğlu, E. (2020). Does the Stock Market Value Inclusion in a Sustainability Index? Evidence from Borsa Istanbul. Sustainability, 12(2), 1-22.en_US
dc.identifier.doi10.3390/su12020483en_US
dc.identifier.endpage22en_US
dc.identifier.issn2096-4129
dc.identifier.issn2332-8878
dc.identifier.issue2en_US
dc.identifier.scopus2-s2.0-85079613272en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://doi.org/10.3390/su12020483
dc.identifier.urihttps://hdl.handle.net/20.500.12154/1029
dc.identifier.volume12en_US
dc.identifier.wosWOS:000516824600041en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.institutionauthorYılmaz, Mustafa Kemal
dc.institutionauthorTatoğlu, Ekrem
dc.institutionauthorid0000-0001-6036-0559en_US
dc.institutionauthorid0000-0002-9119-3252en_US
dc.language.isoen
dc.publisherMDPI journalsen_US
dc.relation.ihupublicationcategory114en_US
dc.relation.ispartofSustainabilityen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCorporate Sustainability Performanceen_US
dc.subjectSustainability Indexen_US
dc.subjectStakeholder Theoryen_US
dc.subjectMarket Reactionen_US
dc.subjectTurkeyen_US
dc.titleDoes the stock market value inclusion in a sustainability index? Evidence from Borsa Istanbulen_US
dc.typeArticle
dspace.entity.typePublication
relation.isAuthorOfPublication29f46236-65bf-4da8-b2be-b9826daecb5e
relation.isAuthorOfPublication9b408141-b1c4-485b-8f06-14ff4eccc6a7
relation.isAuthorOfPublication.latestForDiscovery29f46236-65bf-4da8-b2be-b9826daecb5e
relation.isOrgUnitOfPublicationc9253b76-6094-4836-ac99-2fcd5392d68f
relation.isOrgUnitOfPublication.latestForDiscoveryc9253b76-6094-4836-ac99-2fcd5392d68f

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