Environmental, Social, and Governance (ESG) Scores and Financial Performance of Publicly Listed Companies in Turkey

Authors : Gökhan ÖZER, Nagihan AKTAŞ, İlhan ÇAM

Pages : 337-353

Doi:10.17153/oguiibf.1239759

View : 390 | Download : 565

Publication Date : 2023-08-01

Article Type : Research Paper

Abstract :In this paper, the question of whether the efforts of businesses on environmental, social and corporate governance insert ignore into journalissuearticles values(ESG); investments are also reflected in their financial performance is tried to be answered. In this context, the effects of ESG scores of non-financial firms between 2009-2019 on market-based and accounting-based performance indicators were examined. According to the findings, ESG scores positively affect the performance indicators of companies. According to the results of the additional analyzes using the sub-components of the ESG, it was found that while all three components of the environmental dimension affect performance positively, some sub-components related to the social and corporate governance dimensions are not statistically related to performance.
Keywords : Çevresel, sosyal ve kurumsal yönetim ESG, Performans, Tobin q, Aktif kârlılığı, Özkaynak kârlılığı