Araştırma Makalesi
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Evaluation of Financial Performance of BIST Sustainability 25 Index Companies within the Framework of SDGs Reporting with TOPSIS Approach

Yıl 2023, Cilt: 18 Sayı: 3, 707 - 729, 01.12.2023
https://doi.org/10.17153/oguiibf.1312831

Öz

The purpose of this study is to reveal the alteration in the financial performances of the companies in the BIST Sustainability 25 Index between the years 2010-2022, within or without SDG disclosures applying the TOPSIS ranking approach. The research was carried out with a basis of ratio analysis and frequency method. The financial performance of companies was determined with the TOPSIS approach. Concerning the determination of the level of SDGs by companies, the integrated (annual, operational) and sustainability reports of the companies were subjected to content analysis, and the presence of the indicators was obtained to identify the UN’s SDGs. The highest financial performance obtained from the findings is the banks (AKBNK, TSKB, ISCTR) operating in the financial sector. Similarly, TSKB and ISCTR are among nine companies (ARCLK, EREGL, FROTO, KCHOL, KORDS, MGROS, TCELL, ISCTR, TSKB) that disclosed most SDG statements.

Kaynakça

  • Adeneye, Y. B., & Ahmed, M. (2015). Corporate social responsibility and company performance. Journal of Business Studies Quarterly, 7(1), 151-166.
  • Al Lawati, H., & Hussainey, K. (2022). Does sustainable development goals disclosure affect corporate financial performance? Sustainability, 14(7815), 1-14.
  • Arslan, E. (2022, December). Evaluation of the financial performances of the businesses included in BIST Kayseri Index (XSKAY) by entropy and grey relationship analysis (GIA) methods. Journal of Tourism Economics and Business Studies, 4(2), 117-132.
  • Atukalp, M. E. (2019, January). Analysis of financial performance of cement firms traded on Borsa Istanbul. Journal of Accounting and Finance(81), 213-230.
  • Avcı, T., & Çınaroğlu, E. (2018). Financial performance evaluation of airline companies by AHP based TOPSIS approach. Cumhuriyet University Journal of Economics and Administrative Sciences, 19(1), 316-335.
  • Ayçin, E., & Çakın, E. (2019). Evaluation of financial performance of SMEs with MACBETH-COPRAS integrated approach. Journal of Yasar University, 14(55), 251-265.
  • Bakti, I. T., & Nengzih, N. (2023). The effect of financial performance, company characteristics and corporate governance on the quality of sustainability report disclosure (in manufacturing companies listed on the Indonesia Stock Exchange 2017-2020). Saudi Journal of Economics and Finance, 7(1), 9-21.
  • Ballester, M., & Pilar, C. (2021). Analysing the financial performance of sustainable development goals-themed mutual funds in China. Sustainable Production and Consumption, 27, 858-872.
  • Baydaş, M., & Eren, T. (2021). A different approach to the selection of MCDM method for financial performance measurement: An application in Borsa Istanbul. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 16(3), 664-687.
  • Bruyninckx, H. (2018, June 15). Environmental change: Information plays an important role in reducing impacts on people and nature. Retrieved from European Environment Agency (EEA): https://www.eea.europa.eu/downloads/4dcac2424db442fabc28b99c7a6e8267/1620729283/cevresel-degisim-bilgi-insanlar-ve.pdf on March 16, 2022.
  • Buallay, A. M., Al Marri, M., Nasrallah, N., Hamdana, A., Baroned , E., & Zureigate , Q. (2023). Sustainability reporting in banking and financial services sector: A regional analysis. Journal of Sustainable Finance & Investment, 13(1), 776-801.
  • Cai, Y., & Wolff, L.-A. (2023). Education and Sustainable Development Goals. Sustainability, 15(1), 1-5.
  • Çıtak, L., & Ersoy, E. (2016). Investor response to the ınclusion of firms in the BIST Sustainability Index: An analysis with case study and average tests. International Journal of Alanya Business Faculty, 8(1), 43-57.
  • de Lima Silva, D. F., Ferreira, L., & de Almeida-Filho, A. T. (2020). A new preference disaggregation TOPSIS approach applied to sort corporate bonds based on financial statements and expert's assessment. Expert Systems with Applications, 152, 1-13.
  • Demirel, B. L., Çil Koçyiğit, S., & Kevser, M. (2021). The relationship between macroeconomic variables and the internal factors with financial performance of the banks: An empirical research for Turkey. Academic Review of Economics and Administrative Sciences, 14(2), 598-611.
  • Department of Economic and Social Affairs. (2015). The 17 Goals. Retrieved from United Nations Sustainable Development Goals: https://sdgs.un.org/goals.
  • Düzer, M., & Önce, S. (2017, December). Corporate sustainability reporting and financial performance: A comparative analysis for companies traded in BIST. Bilecik Şeyh Edebali University Journal of Social Sciences Institute, 2(2), 637-648.
  • Ecer, F. (2019, August). A multi-criteria approach towards assessing corporate sustainability performances of privately-owned banks: Entropy-ARAS integrated model. Eskişehir Osmangazi University Journal of FEAS, 14(2), 365-390.
  • Echeverri-Pimienta, M., Valencia-Herrera, S., & Correa-Mejía, D. A. (2022). Sustainable development goals in Latin America: A mechanism that improves financial performance. International Journal of Sustainable Economy, 14(4), 331-348.
  • Ege, İ., Topaloğlu, E. E., & Özyamanoğlu, M. (2013, November). Relationship between financial performance and corporate governance scores: Application in BIST. Journal of Academic Research and Studies, 5(9), 100-117.
  • Ege, İ., Topaloğlu, E. E., & Yıkılmaz Erkol, A. (2017, April). Relationship of Fulmer model based financial distress and financial performance: An application on the manufacturing industry. Journal of Accounting and Fİnance, 119-132.
  • Emir, S., Karataş Aracı, Ö. N., & Kıymık, H. (2021). Evaluation of the effect of ıntegrated reporting approach on financial performance with Camels analysis: An application in the banking sector. Accounting and Auditing Review(62), 259-284.
  • Ertuğrul Ayrancı, A., & Gürel, C. A. (2020). Financial performance of real estate investment trusts: A case of BIST enterprises. International Journal of Applied Economic and Finance Studies, 5(1), 1-14.
  • Gayathri, C., Kamala, V., Gajanand, M. S., & Yamini, S. (2022). Analysis of operational and financial performance of ports: An integrated fuzzy DEMATEL-TOPSIS approach. Benchmarking: An International Journal, 29(3), 1046-1066.
  • Gerekan, B., & Bulut, E. (2018). Three dimensional reporting in sustainable social responsibility: A research on banks that publish sustainability report in Turkey. Papers on Social Science(1), 80-88.
  • Güngör Tanç, Ş., & Teksoy, D. (2022). The relationship between social sustainability and financial performance within the scope of the circular economy: a research on the companies included in BIST Sustainability Index. Mali Çözüm, 32(174), 13-38.
  • Hoe, L. W., Din, M. A., Siew, L. W., & Wai, C. J. (2018). Evaluation on the performance of suppliers in Malaysia with TOPSIS model. Journal of Fundamental and Applied Sciences, 10(6S), 406-415.
  • Jan, A., Rahman, H. U., Zahid, M., Salameh, A. A., Khan, P. A., Al-Faryan, M. A., . . . Ali, H. E. (2023). Islamic corporate sustainability practices index aligned with SDGs towards better financial performance: Evidence from the Malaysian and Indonesian Islamic banking industry. Journal of Cleaner Production(405), 1-12.
  • Karadeniz, E., & Koşan, L. (2021). Financial performance and price to earnings ratio: A research in Borsa Istanbul tourism companies. Sosyoekonomi, 29(47), 249-266.
  • Kestane, A., Kurnaz, N., & Sizer, M. O. (2019). Assessment of sustainability performance by grey relational analysis method in financial institutions: Applications in Turkish banking sector. Turkish Studies - Economics, Finance, Politics, 14(4), 1323-1358.
  • Khan, P. A., Johl, S. K., & Akhtar, S. (2021). Firm sustainable development goals and firm financial performance through the lens of green innovation practices and reporting: A proactive approach. Journal of Risk and Financial Management, 14(605), 1-23.
  • Kılınç, F., & Çalış, E. (2021, September). The Effect of the COVID-19 Pandemic on the food ındustry and the relationship with financial performance. Research of Financial Economic and Social Studies, 6(3), 499-508.
  • Kızıl, E. (2019). The relationship between financial performances and borsa performance of companies operated in cement sector in Borsa Istanbul. Journal of the Faculty of Political Science, 1(1), 51-67.
  • Lassala, C., Orero-Blat, M., & Ribeiro-Navarrete, S. (2021). The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG). Economic Research-Ekonomska Istraživanja, 34(1), 427-449.
  • Martens, K., Fontaneto, D., Thomaz , S. M., & Naselli-Flores , L. (2023). Two celebrations and the Sustainable Development Goals. Hydrobiologia, 850, 1-3.
  • McGuire, J. B., Sundgren, A., & Schnee, T. (2017). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854-872.
  • Muhmad, N. S., & Muhamad, R. (2021). Sustainable business practices and financial performance during pre- and post-SDG adoption periods: A systematic review. Journal of Sustainable Finance & Investment, 11(4), 291-309.
  • Mustafa, S. A., Othman, A. R., & Perumal, S. (2012). Corporate social responsibility and company performance in the Malaysian context. Procedia - Social and Behavioral Sciences, 65(2012), 897-905.
  • Nelling, E., & Webb , E. (2009). Corporate social responsibility and financial performance: the “virtuous circle” revisited. Review of Quantitative Finance and Accounting(32), 197-209.
  • Nichita, E. M., Nechita, E., Manea, C. L., Manea, D., & Irimescu, A. M. (2020). Reporting on Sustainable Development Goals. A score-based approach with company-level evidence from Central-Eastern Europe economies. Journal of Accounting and Management Information Systems(3), 502-542.
  • Orçun, Ç., & Eren, B. S. (2017, July). Financial performance evaluation with TOPSIS method: An application on XUTEK. Journal of Accounting and Finance, 139-154.
  • Orr, S., & Jadhav, A. (2023, January 3). The effect of construction sustainability system interactions on financial performance: a sociotechnical perspective. Journal of Engineering, Construction and Architectural Management.
  • Ömürbek, V., Aksoy, E., & Akçakanat, Ö. (2017). Evaluation of banks' sustainability performances by ARAS, OOSRA and COPRAS methods. Suleyman Demirel University Visionary Journal, 8(19), 14-32.
  • Özbek, A., & Ghouchi, M. (2021, June). Performance evaluation of airlines using financial ratios. International Journal of Engineering Research and Development, 13(2), 583-599. Özçelik, H., & Küçükçakal, Z. (2019, January). Financial performance analysis of leasing and factoring firms traded in BIST by using TOPSIS. The Journal of Accounting and Finance(81), 249-270.
  • Özdağoğlu, A., & Keleş, M. K. (2019). Financial performance analysis of 4 great football clubs with Gray Entropy based ROV method in terms of sport management. Journal of Süleyman Demirel University Institute of Social Sciences(35), 107-123.
  • Özdemir, O., & Kılıçarslan, Ş. (2021). A research on financial performance of life and pension companies with Entropy-Based Gray Relational Analysis technique. Süleyman Demirel University the Journal of Faculty of Economics Administrative Sciences, 26(4), 413-434.
  • Özkan, T. (2020). The use of TOPSIS method in financial performance measurement in Turkish banking sector: An application on participation banks. Journal of Economic and Financial Research(113), 47-64.
  • Özmen, A., Karakoç, M., & Yeşildağ, E. (2020). Sustainability reporting: An application on companies in BIST Sustainability Index. Dumlupinar University Journal of Social Sciences(63), 153-174.
  • Pala, O. (2021, June). Financial performance analysis of BIST transportation companies based on IDOCRIW and MARCOS. Kafkas University Economics and Administrative Economics and Administrative, 12(23), 1309-4289.
  • Pala, O. (2021, December). Integrated CCSD-COCOSO based financial performance analysis in BIST Construction Index. Afyon Kocatepe University Journal of Social Sciences, 23(4), 1500-1513.
  • Robinson, D. (2022, February 07). 12 Biggest environmental problems of 2022. Retrieved from EARTH.ORG: https://earth.org/the-biggest-environmental-problems-of-our-lifetime/ on March 16, 2022.
  • Santis, P., Albuquerque, A., & Lizarelli, F. (2016). Do sustainable companies have a better financial performance? A study on Brazilian public companies. Journal of Cleaner Production(133), 735-745.
  • Söylemez, Y. (2020, September). Comparison of TOPSIS and Gray Relative analysis methods in financial performance evaluation. Journal of Management and Economics Research, 18, 61-79.
  • Şendurur, U., & Temelli, F. (2018, June). Comparison of participation and conventional banks which are operating in Turkey in terms of sustainability. The World of Accounting Science, 20(2), 330-346.
  • Whittingham, K. L., Earle, A. G., Argiolas, A., & Leyva-De La Hiz, D. I. (2023). The impact of the United Nations Sustainable Development Goals on corporate sustainability reporting. BRQ Business Research Quarterly, 26(1), 45-61.
  • Yiğit, V. (2020). Financial performance analysis of hospital services subsector. International Journal of Health Management and Strategies Research, 6(3), 609-624.
  • Yıldırım, G., Uzun Kocamış, T., & Tuncer Tokur, Ö. (2018). Sustainability and company performance: an application on BIST Sustainability Index Companies. Akademi Sosyal Bilimler Dergisi (asbider), 5(15), 90-96.
  • Yüksel, F., & Kayalı, C. A. (2020). The impact of ıntegrated reporting principles on financial performance: A research on the BIST Banks Index. The World of Accounting Science, 22(MODAV 16th International Accounting Conference Special Issue), 65-80.

BIST Sürdürülebilirlik 25 Endeksi Şirketlerinin Finansal Performansının TOPSIS Yaklaşımı ile Raporlanan SKH'ler Çerçevesinde Değerlendirilmesi

Yıl 2023, Cilt: 18 Sayı: 3, 707 - 729, 01.12.2023
https://doi.org/10.17153/oguiibf.1312831

Öz

Çalışmanın amacı, BIST Sürdürülebilirlik 25 Endeksi'nde yer alan şirketlerin 2010-2022 yılları arasında SKH açıklamaları doğrultusunda finansal performanslarındaki değişimi TOPSIS sıralama yaklaşımı ile ortaya koymaktır. Araştırma, oran analizi ve frekans yöntemi esas alınarak gerçekleştirilmiştir. TOPSIS yaklaşımı ile şirketlerin finansal performansları belirlenmiştir. SKH'lerin şirketler tarafından açıklanma düzeylerinin belirlenmesi amacıyla şirketlerin entegre (yıllık, faaliyet) ve sürdürülebilirlik raporları içerik analizine tabi tutulmuş ve BM SKH'lerini belirlemeye yönelik göstergelerin varlığı elde edilmiştir. Bulgulardan elde edilen en yüksek finansal performans finans sektöründe faaliyet gösteren bankalardır (AKBNK, TSKB, ISCTR). Benzer şekilde TSKB ve ISCTR en çok SKH beyanı açıklayan dokuz şirket (ARCLK, EREGL, FROTO, KCHOL, KORDS, MGROS, TCELL, ISCTR, TSKB) arasındadır.

Kaynakça

  • Adeneye, Y. B., & Ahmed, M. (2015). Corporate social responsibility and company performance. Journal of Business Studies Quarterly, 7(1), 151-166.
  • Al Lawati, H., & Hussainey, K. (2022). Does sustainable development goals disclosure affect corporate financial performance? Sustainability, 14(7815), 1-14.
  • Arslan, E. (2022, December). Evaluation of the financial performances of the businesses included in BIST Kayseri Index (XSKAY) by entropy and grey relationship analysis (GIA) methods. Journal of Tourism Economics and Business Studies, 4(2), 117-132.
  • Atukalp, M. E. (2019, January). Analysis of financial performance of cement firms traded on Borsa Istanbul. Journal of Accounting and Finance(81), 213-230.
  • Avcı, T., & Çınaroğlu, E. (2018). Financial performance evaluation of airline companies by AHP based TOPSIS approach. Cumhuriyet University Journal of Economics and Administrative Sciences, 19(1), 316-335.
  • Ayçin, E., & Çakın, E. (2019). Evaluation of financial performance of SMEs with MACBETH-COPRAS integrated approach. Journal of Yasar University, 14(55), 251-265.
  • Bakti, I. T., & Nengzih, N. (2023). The effect of financial performance, company characteristics and corporate governance on the quality of sustainability report disclosure (in manufacturing companies listed on the Indonesia Stock Exchange 2017-2020). Saudi Journal of Economics and Finance, 7(1), 9-21.
  • Ballester, M., & Pilar, C. (2021). Analysing the financial performance of sustainable development goals-themed mutual funds in China. Sustainable Production and Consumption, 27, 858-872.
  • Baydaş, M., & Eren, T. (2021). A different approach to the selection of MCDM method for financial performance measurement: An application in Borsa Istanbul. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 16(3), 664-687.
  • Bruyninckx, H. (2018, June 15). Environmental change: Information plays an important role in reducing impacts on people and nature. Retrieved from European Environment Agency (EEA): https://www.eea.europa.eu/downloads/4dcac2424db442fabc28b99c7a6e8267/1620729283/cevresel-degisim-bilgi-insanlar-ve.pdf on March 16, 2022.
  • Buallay, A. M., Al Marri, M., Nasrallah, N., Hamdana, A., Baroned , E., & Zureigate , Q. (2023). Sustainability reporting in banking and financial services sector: A regional analysis. Journal of Sustainable Finance & Investment, 13(1), 776-801.
  • Cai, Y., & Wolff, L.-A. (2023). Education and Sustainable Development Goals. Sustainability, 15(1), 1-5.
  • Çıtak, L., & Ersoy, E. (2016). Investor response to the ınclusion of firms in the BIST Sustainability Index: An analysis with case study and average tests. International Journal of Alanya Business Faculty, 8(1), 43-57.
  • de Lima Silva, D. F., Ferreira, L., & de Almeida-Filho, A. T. (2020). A new preference disaggregation TOPSIS approach applied to sort corporate bonds based on financial statements and expert's assessment. Expert Systems with Applications, 152, 1-13.
  • Demirel, B. L., Çil Koçyiğit, S., & Kevser, M. (2021). The relationship between macroeconomic variables and the internal factors with financial performance of the banks: An empirical research for Turkey. Academic Review of Economics and Administrative Sciences, 14(2), 598-611.
  • Department of Economic and Social Affairs. (2015). The 17 Goals. Retrieved from United Nations Sustainable Development Goals: https://sdgs.un.org/goals.
  • Düzer, M., & Önce, S. (2017, December). Corporate sustainability reporting and financial performance: A comparative analysis for companies traded in BIST. Bilecik Şeyh Edebali University Journal of Social Sciences Institute, 2(2), 637-648.
  • Ecer, F. (2019, August). A multi-criteria approach towards assessing corporate sustainability performances of privately-owned banks: Entropy-ARAS integrated model. Eskişehir Osmangazi University Journal of FEAS, 14(2), 365-390.
  • Echeverri-Pimienta, M., Valencia-Herrera, S., & Correa-Mejía, D. A. (2022). Sustainable development goals in Latin America: A mechanism that improves financial performance. International Journal of Sustainable Economy, 14(4), 331-348.
  • Ege, İ., Topaloğlu, E. E., & Özyamanoğlu, M. (2013, November). Relationship between financial performance and corporate governance scores: Application in BIST. Journal of Academic Research and Studies, 5(9), 100-117.
  • Ege, İ., Topaloğlu, E. E., & Yıkılmaz Erkol, A. (2017, April). Relationship of Fulmer model based financial distress and financial performance: An application on the manufacturing industry. Journal of Accounting and Fİnance, 119-132.
  • Emir, S., Karataş Aracı, Ö. N., & Kıymık, H. (2021). Evaluation of the effect of ıntegrated reporting approach on financial performance with Camels analysis: An application in the banking sector. Accounting and Auditing Review(62), 259-284.
  • Ertuğrul Ayrancı, A., & Gürel, C. A. (2020). Financial performance of real estate investment trusts: A case of BIST enterprises. International Journal of Applied Economic and Finance Studies, 5(1), 1-14.
  • Gayathri, C., Kamala, V., Gajanand, M. S., & Yamini, S. (2022). Analysis of operational and financial performance of ports: An integrated fuzzy DEMATEL-TOPSIS approach. Benchmarking: An International Journal, 29(3), 1046-1066.
  • Gerekan, B., & Bulut, E. (2018). Three dimensional reporting in sustainable social responsibility: A research on banks that publish sustainability report in Turkey. Papers on Social Science(1), 80-88.
  • Güngör Tanç, Ş., & Teksoy, D. (2022). The relationship between social sustainability and financial performance within the scope of the circular economy: a research on the companies included in BIST Sustainability Index. Mali Çözüm, 32(174), 13-38.
  • Hoe, L. W., Din, M. A., Siew, L. W., & Wai, C. J. (2018). Evaluation on the performance of suppliers in Malaysia with TOPSIS model. Journal of Fundamental and Applied Sciences, 10(6S), 406-415.
  • Jan, A., Rahman, H. U., Zahid, M., Salameh, A. A., Khan, P. A., Al-Faryan, M. A., . . . Ali, H. E. (2023). Islamic corporate sustainability practices index aligned with SDGs towards better financial performance: Evidence from the Malaysian and Indonesian Islamic banking industry. Journal of Cleaner Production(405), 1-12.
  • Karadeniz, E., & Koşan, L. (2021). Financial performance and price to earnings ratio: A research in Borsa Istanbul tourism companies. Sosyoekonomi, 29(47), 249-266.
  • Kestane, A., Kurnaz, N., & Sizer, M. O. (2019). Assessment of sustainability performance by grey relational analysis method in financial institutions: Applications in Turkish banking sector. Turkish Studies - Economics, Finance, Politics, 14(4), 1323-1358.
  • Khan, P. A., Johl, S. K., & Akhtar, S. (2021). Firm sustainable development goals and firm financial performance through the lens of green innovation practices and reporting: A proactive approach. Journal of Risk and Financial Management, 14(605), 1-23.
  • Kılınç, F., & Çalış, E. (2021, September). The Effect of the COVID-19 Pandemic on the food ındustry and the relationship with financial performance. Research of Financial Economic and Social Studies, 6(3), 499-508.
  • Kızıl, E. (2019). The relationship between financial performances and borsa performance of companies operated in cement sector in Borsa Istanbul. Journal of the Faculty of Political Science, 1(1), 51-67.
  • Lassala, C., Orero-Blat, M., & Ribeiro-Navarrete, S. (2021). The financial performance of listed companies in pursuit of the Sustainable Development Goals (SDG). Economic Research-Ekonomska Istraživanja, 34(1), 427-449.
  • Martens, K., Fontaneto, D., Thomaz , S. M., & Naselli-Flores , L. (2023). Two celebrations and the Sustainable Development Goals. Hydrobiologia, 850, 1-3.
  • McGuire, J. B., Sundgren, A., & Schnee, T. (2017). Corporate social responsibility and firm financial performance. Academy of Management Journal, 31(4), 854-872.
  • Muhmad, N. S., & Muhamad, R. (2021). Sustainable business practices and financial performance during pre- and post-SDG adoption periods: A systematic review. Journal of Sustainable Finance & Investment, 11(4), 291-309.
  • Mustafa, S. A., Othman, A. R., & Perumal, S. (2012). Corporate social responsibility and company performance in the Malaysian context. Procedia - Social and Behavioral Sciences, 65(2012), 897-905.
  • Nelling, E., & Webb , E. (2009). Corporate social responsibility and financial performance: the “virtuous circle” revisited. Review of Quantitative Finance and Accounting(32), 197-209.
  • Nichita, E. M., Nechita, E., Manea, C. L., Manea, D., & Irimescu, A. M. (2020). Reporting on Sustainable Development Goals. A score-based approach with company-level evidence from Central-Eastern Europe economies. Journal of Accounting and Management Information Systems(3), 502-542.
  • Orçun, Ç., & Eren, B. S. (2017, July). Financial performance evaluation with TOPSIS method: An application on XUTEK. Journal of Accounting and Finance, 139-154.
  • Orr, S., & Jadhav, A. (2023, January 3). The effect of construction sustainability system interactions on financial performance: a sociotechnical perspective. Journal of Engineering, Construction and Architectural Management.
  • Ömürbek, V., Aksoy, E., & Akçakanat, Ö. (2017). Evaluation of banks' sustainability performances by ARAS, OOSRA and COPRAS methods. Suleyman Demirel University Visionary Journal, 8(19), 14-32.
  • Özbek, A., & Ghouchi, M. (2021, June). Performance evaluation of airlines using financial ratios. International Journal of Engineering Research and Development, 13(2), 583-599. Özçelik, H., & Küçükçakal, Z. (2019, January). Financial performance analysis of leasing and factoring firms traded in BIST by using TOPSIS. The Journal of Accounting and Finance(81), 249-270.
  • Özdağoğlu, A., & Keleş, M. K. (2019). Financial performance analysis of 4 great football clubs with Gray Entropy based ROV method in terms of sport management. Journal of Süleyman Demirel University Institute of Social Sciences(35), 107-123.
  • Özdemir, O., & Kılıçarslan, Ş. (2021). A research on financial performance of life and pension companies with Entropy-Based Gray Relational Analysis technique. Süleyman Demirel University the Journal of Faculty of Economics Administrative Sciences, 26(4), 413-434.
  • Özkan, T. (2020). The use of TOPSIS method in financial performance measurement in Turkish banking sector: An application on participation banks. Journal of Economic and Financial Research(113), 47-64.
  • Özmen, A., Karakoç, M., & Yeşildağ, E. (2020). Sustainability reporting: An application on companies in BIST Sustainability Index. Dumlupinar University Journal of Social Sciences(63), 153-174.
  • Pala, O. (2021, June). Financial performance analysis of BIST transportation companies based on IDOCRIW and MARCOS. Kafkas University Economics and Administrative Economics and Administrative, 12(23), 1309-4289.
  • Pala, O. (2021, December). Integrated CCSD-COCOSO based financial performance analysis in BIST Construction Index. Afyon Kocatepe University Journal of Social Sciences, 23(4), 1500-1513.
  • Robinson, D. (2022, February 07). 12 Biggest environmental problems of 2022. Retrieved from EARTH.ORG: https://earth.org/the-biggest-environmental-problems-of-our-lifetime/ on March 16, 2022.
  • Santis, P., Albuquerque, A., & Lizarelli, F. (2016). Do sustainable companies have a better financial performance? A study on Brazilian public companies. Journal of Cleaner Production(133), 735-745.
  • Söylemez, Y. (2020, September). Comparison of TOPSIS and Gray Relative analysis methods in financial performance evaluation. Journal of Management and Economics Research, 18, 61-79.
  • Şendurur, U., & Temelli, F. (2018, June). Comparison of participation and conventional banks which are operating in Turkey in terms of sustainability. The World of Accounting Science, 20(2), 330-346.
  • Whittingham, K. L., Earle, A. G., Argiolas, A., & Leyva-De La Hiz, D. I. (2023). The impact of the United Nations Sustainable Development Goals on corporate sustainability reporting. BRQ Business Research Quarterly, 26(1), 45-61.
  • Yiğit, V. (2020). Financial performance analysis of hospital services subsector. International Journal of Health Management and Strategies Research, 6(3), 609-624.
  • Yıldırım, G., Uzun Kocamış, T., & Tuncer Tokur, Ö. (2018). Sustainability and company performance: an application on BIST Sustainability Index Companies. Akademi Sosyal Bilimler Dergisi (asbider), 5(15), 90-96.
  • Yüksel, F., & Kayalı, C. A. (2020). The impact of ıntegrated reporting principles on financial performance: A research on the BIST Banks Index. The World of Accounting Science, 22(MODAV 16th International Accounting Conference Special Issue), 65-80.
Toplam 58 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Makaleler
Yazarlar

Selin Coşkun 0000-0001-8114-5137

Yayımlanma Tarihi 1 Aralık 2023
Gönderilme Tarihi 11 Haziran 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 18 Sayı: 3

Kaynak Göster

APA Coşkun, S. (2023). Evaluation of Financial Performance of BIST Sustainability 25 Index Companies within the Framework of SDGs Reporting with TOPSIS Approach. Eskişehir Osmangazi Üniversitesi İktisadi Ve İdari Bilimler Dergisi, 18(3), 707-729. https://doi.org/10.17153/oguiibf.1312831