A Research on Türkiye, the United States, and Germany Stock Markets from the Environmental Social Governance (ESG) and Sustainability Perspective

Authors : Ozan Kaymak

Pages : 44-53

View : 88 | Download : 80

Publication Date : 2025-06-30

Article Type : Research Paper

Abstract :Environmental, Social, and Governance (ESG) practices are spreading from developed markets to other markets. This study examines the relationships between ESG indices and market indices in selected stock markets. The aim of this study is to investigate the direction and intensity of the potential effects of changes in selected stock market indices on their respective ESG indices during the period from December 2014 to December 2024. The relationships between the main indices of Borsa Istanbul, Standard & Poor’s, and the Frankfurt Stock Exchange and their ESG indices were examined for each market by estimating three different simple linear regression models, and the results of the three models were compared. As a result of the study, it was determined that there is a positive relationship between the ESG indices of the selected three markets and the market indices, and that the Frankfurt Stock Exchange\\\'s ESG index has the lowest sensitivity level to the market index.
Keywords : Sustainability, ESG, Stock Markets Indices.

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