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

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dc.authorid0000-0001-6036-0559
dc.authorid0000-0002-9119-3252
dc.authorid0000-0002-4773-1770
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.issued2020
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İşletme Bölümü
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.
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.
dc.identifier.doi10.3390/su12020483
dc.identifier.endpage22
dc.identifier.issn2096-4129
dc.identifier.issn2332-8878
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85079613272
dc.identifier.scopusqualityQ1
dc.identifier.startpage1
dc.identifier.urihttps://doi.org/10.3390/su12020483
dc.identifier.urihttps://hdl.handle.net/20.500.12154/1029
dc.identifier.volume12
dc.identifier.wosWOS:000516824600041
dc.identifier.wosqualityQ1
dc.indekslendigikaynakScopus
dc.indekslendigikaynakWeb of Science
dc.institutionauthorYılmaz, Mustafa Kemal
dc.institutionauthorTatoğlu, Ekrem
dc.institutionauthorid0000-0001-6036-0559
dc.institutionauthorid0000-0002-9119-3252
dc.language.isoen
dc.publisherMDPI journals
dc.relation.ihupublicationcategory114
dc.relation.ispartofSustainability
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectCorporate Sustainability Performance
dc.subjectSustainability Index
dc.subjectStakeholder Theory
dc.subjectMarket Reaction
dc.subjectTurkey
dc.titleDoes the stock market value inclusion in a sustainability index? Evidence from Borsa Istanbul
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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