The Relationship Between Corporate Social Responsibility and Financial Performance: A Study on BIST Chemical, Petroleum and Plastic Index

Abstract

In today’s World the companies which act according to social responsibility, evaluate their sucess according to economic, environmental and social effects in the long run. For this reason if they operate in the social responsible manner, they think that they will be sucessful. So the information which define the social responsibility activities of companies apart from the financial information tend to increase in the business World. In this study it is aimed to analyse corporate social responsibility and financial performance relationship. Thereby the companies which are BIST Chemical - Petroleum and Plastic sector will be studied between the years 2010-2012 according to the criteria which are determined by GRI (Global Reporting Initiative). In this anaysis firstly the reporting level of the companies according to criteria and then the relationship between the the results and financial performance will be examied

Keywords

• Corporate Social Responsibility,Financial Performance,Reporting

Kurumsal Sosyal Sorumluluk Raporlaması ve Finansal Performans Arasındaki İlişki: Borsa İstanbul’da İşlem Gören Kimya-Petrol-Plastik Sektörü Şirketleri Üzerine Bir Araştırma

Abstract

Günümüzde sosyal sorumluluğa uygun olarak hareket eden işletmeler başarılarını uzun vadede ekonomiye çevreye ve topluma olan etkileri ile ölçmektedirler. Dolayısıyla işletmeler çevreye ve topluma karşı sorumlu bir şekilde faaliyetlerini yürütmeleri halinde uzun vadede kazançlı çıkacaklarını düşünmektedirler. Bu bakımdan günümüzde dünyada artan oranda sosyal sorumluluk faaliyetlerinin açıklandığı periyodik raporlar hazırlandığı görülmektedir. Bu çalışmada işletmelerin sosyal sorumluluğu ve finansal performans ilişkisinin incelenmesi amaçlanmaktadır. Bu nedenle çalışmada 2010-2012 yılları arasında BİST Kimya, Petrol, Plastik Endeksinde yer alan işletmelerin GRI (Global Reporting Initiative - Küresel Raporlama Girişimi) tarafından belirlenmiş sosyal sorumluluk kriterlerine göre raporlama düzeyi araştırılacak ve ardından elde edilen sonuçların finansal performans ölçütleri ile olan ilişkisi analiz edilecektir.

Keywords

• Kurumsal Sosyal Sorumluluk, Finansal Performans, Raporlama

References

1. Aktan, C. , Börü, D. (2007) “Kurumsal Sosyal Sorumluluk” Ed. Coşkun Can Can Aktan Kurumsal Sosyal Sorumluluk: İşletmeler ve Sorumluluk, İGİAD Yayınları , İstanbul.
2. Allouche, J Laroche, P. (2005) “A Meta-Analytıcal Investıgatıon Of The Relatıonshıp Between Corporate Socıal And Fınancıal Performance ” Revue de Gestion des Ressources Humaines pp. 18-41.
3. Andersen, M. Olsen, L. “Corporate Social and Financial Performance: A Cononical Correlation Analysis” Academy of Accounting and Financial Studies Jornal, V.15. N.2. pp. 17-37
4. Aras ve G., Aybars, A., Kutlu, O. , (2010) Managing Corporate Performance: Investigating the Relationship Between Corporate Social Responsibility and Financial Performancein Emerging Markets” International Journal of Productivity and Performance Management, Vol. 59, No.3. pp. 229-254
5. Arsoy, A. Arabacı, Ö., Çiftçioğlu, A. (2012)” Corporate Social Responsibility and Financial Performance Relationship: The Case Of Turkey” Muhasebe ve Finansman Dergisi, Ocak. Pp. 159-176.
6. Aupperle, K., Carroll, A. and Hartfield, J. (1985), "An empirical examination of the relationship between corporate social responsibility and profitability", Academy of Management Journal, Vol. 28 No. 2, pp. 446-63.
7. Balabanis, G., H. C. Philips and J. Lyall (1998) “Corporate Social Responsibility and Economic Performance inthe Top British Companies: Are They Linked?”, European Business Review V. 98, N. 1, pp. 25–42.
8. Başar, Başar (2006) “Sosyal Sorumluluk Raporlaması ve Türkiye’deki Durumu” Anadolu Üniversitesi Sosyal Bilimler Dergisi, Vol. 6. N. 2, pp. 213-230.

9. Beurden, p. Gössling, T. (2008) The Worth of Values: Aliterature Review on the Relation Between Corporate Social and Financial Performance” Journal of Business Ethics, V. 82, pp. 407- 424.
10. Chand, M. (2006) “The Relationship Between Corporate Social Performance and Corporate Financial Performance: Industry Type as a Boundry Type”, The Business Review, Vol5. N. 1. Pp. 240- 245.
11. Cohran ve Wood, Corporate Social responsibility and Financial Performance, Academy of Management Journal, 1984, Vol 27, No.1
12. D’Arcimoles, C.H. and Trebucq, S. (2002), “The corporate social performance- financialperformance link: evidence from France”, paper prepared and accepted for the 2002 AFFI International Conference, Paris.
13. Graves, S. and Waddock, S.A. (1994), "Institutional owners and corporate social performance", Academy of Management Journal, Vol. 18, pp. 303-17.
14. Lech. A.(2012) “ Corporate Social responsibility and Financial Performance: Theoretical and Emprical Aspects”
15. Martin, S. , Odemilin G. Bampton, R. ((2010. (2010): 203-217.”Corporate Social Responsibility: A Strategy For Sustainable Business Success. An Analysis Of 20 Selected British Companies “ Corporate Governance, Vol 10, No.2. 10.2
16. McGuire, J. B., A. Sundgren and T. Schneeweis: (1988), “Corporate Social Responsibility and Firm Financial”Sustainable Development and Corporate Performance”Performance, Academy of Management Journal , Vol. 31 N. 4, pp. 854–872.
17. Moneva, j, Rivera, J. M.. Mun˜oz-Torres, M. (2007) “The Corporate Stakeholder Commitment And Social And Financial Performance” Industrial Management & Data Systems , Vol. 107. No. 1. pp. 84-102
18. Moore, G. (2001)“Corporate Social and Financial Performance: An Investigation in the U.K. Supermarket Industry” Journal of Business Ethics, 34. pp. 299-315.
19. Oeyono, J. Samy, M., Bampton, R. (2011), “ An Examination of Corporate Social Responsibility and Financial Performance: A Study of top 50 Indonesian Listed Companies”Jornal of Global Responsibility, Vol. 2, No: 1 , 100-112 pp. s. 101
20. Pava, M. L. and J. Krausz, (1996), ‘The Association BetweenCorporate Social-Responsibility and Financial Performance: The Paradox of Social Cost’, Journal of Business Ethics V. 15 N. 3, pp. 321–357.
21. Preston, L., O’Bannon, D. ( 1997) “The corporate social-financial performance relationship” Business and Society;; V.36, N. 4; pp. 419- 429
22. Velde. E. Vermeir, W., Corten. (2005) “Corporate Soacila Responsibility and Financial Performance” Corporate Governance, Vol. 5. No. 3. Pp. 129-138.
23. https://www.globalreporting.org/languages/Turkish/Pages/default.aspx)