DETERMINANTS OF SUSTAINABLE PERFORMANCE ON FIRM VALUE: THE CASE OF GLOBAL 100 MOST SUSTAINABLE BUSINESS

Authors : Mihriban COŞKUN ARSLAN, Bilgehan ÇAKMAK SEL

Pages : 70-87

View : 30 | Download : 38

Publication Date : 2023-06-23

Article Type : Research Paper

Abstract :In order to be able to talk about a sustainable business, financial information alone is not sufficient, but also qualitative and difficult-to-measure non-financial data are needed. The purpose of this study is to reveal the impact of sustainable performance determinants on the firm value of the businesses listed in the Global 100 list, where the most sustainable businesses are ranked globally. Within the scope of the research, panel data regression analysis was conducted on the data of 14 enterprises operating in the Global 100 between 2016-2021, excluding the banking sector. The results of the analysis of the final models obtained after the estimator selection and deviation from assumption tests show that there is a significant relationship between the sustainability activities of the enterprises and their firm values in general, and that the determinants of sustainable performance are most positively affected by return on assets insert ignore into journalissuearticles values(ROA); and return on equity insert ignore into journalissuearticles values(ROE);, while a significant negative relationship is observed with the Tobin\`s Q ratio.
Keywords : Sürdürülebilirlik, Sürdürülebilir Kalkınma, Kurumsal Sürdürülebilirlik, Sürdürülebilir Raporlama, Firma Değeri