Antecedents of corporate sustainability performance in Turkey: The effects of ownership structure and board attributes on non-financial companies
Yükleniyor...
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
The discourse of corporate sustainability performance (CSP) has created an increasing motivation for companies to improve their competitive advantage. This study examines the drivers leading to a high level of CSP within non-financial Turkish companies listed in the Borsa Istanbul Sustainability Index. Drawing on both stakeholder and agency theories, we formulate a set of hypotheses that link CSP with ownership structure, board diversity, and firm-specific characteristics. Based on logit and probit models, the empirical results tend to confirm the positive influence of foreign and institutional ownerships in shaping CSP and indicate that CSP is positively linked with board size and the proportion of independent board members. Further, the findings show that companies with a leading level of CSP have a lower return than companies with mediocre CSP based on a market-based measure, Tobin’s Q.
Açıklama
Anahtar Kelimeler
Borsa Istanbul Sustainability Index, Board Diversity, Corporate Sustainability Performance, Ownership Structure, Stakeholder Theory
Kaynak
Journal of Cleaner Production
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
276
Sayı
Künye
Aksoy, M., Yılmaz, M. K., Tatoğlu, E. ve Basar, M. (2020). Antecedents of corporate sustainability performance in Turkey: The effects of ownership structure and board attributes on non-financial companies. Journal of Cleaner Production, 276, 1-11.
