The Impacts of Corporate Disclosures Regarding Sustainable Development Goals and Environmental, Social, and Governance Scores of Companies on Financial Performance: The Case of Türkiye

Abstract

The aim of this study is to examine the impact of corporate disclosures regarding Sustainable Development Goals and Environmental, Social, and Governance (ESG) scores on financial performance. The findings reveal a positive relationship between the overall ESG score and social score with Return on Equity and Net Profit Margin. There is a positive relationship between the Environmental score and Return on Equity. Additionally, a causal relationship exists between the Environmental score and Earnings Before Interest and Taxes, Net Profit Margin, and Price/Earnings ratio. The Governance score shows a positive relationship with Return on Assets, Return on Equity, Tobin's Q, and Earnings Before Interest and Taxes. Furthermore, a causal relationship exists between the Governance score and Return on Assets and Return on Equity. Conversely, the level of disclosure score regarding Sustainable Development Goals is negatively related to Net Profit Margin and Price/Earnings ratio, while a causal relationship is present with Return on Assets.

Keywords

• ESG (environmental
• social and governance)
• Sustainable development goals (SDG’s)
• Financial performance

İşletmelerin Sürdürülebilir Kalkınma Hedeflerine yönelik açıklamarı ile Çevresel, Sosyal ve Yönetişim skorlarının finansal performans üzerindeki etkisi: Türkiye örneği

Abstract

Bu çalışmanın amacı, işletmelerin sürdürülebilir kalkınma hedeflerine yönelik açıklamaları ile çevresel, sosyal ve yönetişim skorlarının finansal performans üzerindeki etkisini incelemektir. Bulgular, çevresel, sosyal ve yönetişim genel skor ve sosyal skor ile Özkaynak Kârlılığı ve Net Kâr Marjı arasında pozitif ilişki bulmuştur. Çevresel skor ile Özkaynak Kârlılığı arasında pozitif ilişki vardır. Çevresel skor ile Faiz ve Vergi Öncesi Kâr, Net Kâr Marjı ve Fiyat/Kazanç arasında nedensel ilişki vardır. Yönetişim skoru ile Aktif Kârlılığı, Özkaynak Kârlılığı, Tobin’in Q ve Faiz ve Vergi Öncesi Kâr arasında pozitif ilişki vardır. Yönetişim skoru ile Aktif Kârlılığı ve Özkaynak Kârlılığı arasında nedensel ilişki vardır. Sürdürülebilir kalkınma hedeflerine yönelik açıklama düzeyi skoru, Net Kâr Marjı ve Fiyat/Kazanç ile negatif ilişkili iken, Aktif Kârlılığı ile arasında nedensel ilişki bulunmaktadır.

Keywords

• ÇSY (Çevresel
• Sosyal ve Yönetişim)
• Sürdürülebilir Kalkınma Hedefleri
• Karma Yöntem

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