Green ınvestment and financial efficiency as catalysts for SDG progress: Evidence from Bangladesh’s banking sector
Abstract
This study examines the influence of green finance and key financial indicators on UN Sustainable Development Goals (SDGs) in Bangladesh’s banking sector. Analyzing panel data from 10 commercial banks (2011–2023), the study assess the relationship between five SDGs (3, 4, 5, 8, and 9) and seven financial variables: green expenses, ROE, ROA, market value of shares, leverage ratio, dividend payout ratio, and R&D expenditure. Using OLS regression (EViews), the study finds that green expenses, ROE, and R&D positively and significantly affect SDGs 3, 4, 5, and 9, underscoring the role of sustainability and innovation. Conversely, ROA negatively impacts SDGs 3–5 and 9, while leverage harms SDGs 3–4, and dividend payouts hinder SDGs 4, 5, and 9. Market value shows minimal influence. The results emphasize green finance’s importance while cautioning against excessive asset-driven profitability and debt reliance.
Ethical Statement
The Author(s) have no competing interest.
References
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Details
| Primary Language | English |
|---|---|
| Subjects | Monetary-Banking |
| Journal Section | Research Article |
| Authors | |
| Submission Date | August 31, 2025 |
| Acceptance Date | October 13, 2025 |
| Early Pub Date | December 15, 2025 |
| Publication Date | March 22, 2026 |
| IZ | https://izlik.org/JA99ZU34EG |
| Published in Issue | Year 2025 Issue: Advanced Online Publication |
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References Writing Rules
Journal Articles
Dogru T., Isik, C., & SirakayaTurk E. (2019). The Balance of Trade and Exchange Rates: Theory and Contemporary Evidence From Tourism, Tourism Management, 74 (4):12-23.
Books
Wood, R.; Payne, T. (1998), Competency-Based Recruitment and Selection, London: Wiley Publication.
Noondy, R.; Noe, M.; Premeaux, S. R. (2002), Human Resource Management, 8th Ed., New Jersey: Prentice-Hall.
Edited Books and Encyclopedias
Friedman, M. (2000), “Just Price in Medieval Europe”, Britannica, C. 9, Cambridge University Press: London: 1245–1249.
Britannica (2016), “Price Competition”, C. 12, Oxford University Press: USA: 2345–2350.
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Akat, A. S., “Türkiye Ekonomisinin Yirmi Yıllık Geleceği”, Dünya Gazetesi, 22 Nisan 2012: 14.
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• Author(s) should document that they have the participants' consent and the necessary permissions related to the sharing and research/analysis of the data that are used.
• Author(s) bear the responsibility to inform the editor of the journal or publisher if they happen to notice a mistake in their study which is in early release or publication process and to cooperate with the editors during the correction or withdrawal process.
• Authors cannot submit their studies to multiple journals simultaneously. Each submission can be made only after the previous one is completed. A study published in another journal cannot be submitted to Journal of EKONOMİ (EKONOMİ).
• Author responsibilities are given in a study (e.g., adding an author, reordering of author names) cannot be changed if the review process has begun.
In terms of ethical rules; the situations requiring Ethics Committee Permission for the researches to be evaluated in the journal are as follows:
• Any research carried out with qualitative or quantitative approaches that require data collection from participants using survey, interview, focus group work, observation, experiment, interview techniques,
• Use of humans and animals (including material/data) for experimental or other scientific purposes,
• Clinical researches on humans,
• Researches on animals,
• Retrospective studies in accordance with the law of protection of personal data.
In this context, in the studies to be evaluated in our journal;
• In the case reports, it is stated that the “informed consent form” was taken,
• Obtaining and expressing permission from the owners for the use of scales, surveys, and photographs belonging to others,
• It should be noted that the copyright regulations are complied with for the ideas and works of art used.
Ethical Responsibilities of Editors
The editors of Journal of EKONOMİ (EKONOMİ) should hold the following ethical responsibilities that are based on the guides "COPE Code of Conduct and Best Practice Guidelines for Journal Editors" and "COPE Best Practice Guidelines for Journal Editors" published as open Access by Committee on Publication Ethics (COPE).
General duties and responsibilities
Editors are responsible for each study published in the Journal of EKONOMİ (EKONOMİ). In this respect, the editors have the following roles and responsibilities:
• Making efforts to meet the demand for knowledge from readers and authors,
• Ensuring the continuous development of the journal,
• Managing the procedures aimed to improve the quality of the studies published in the journal,
• Supporting intellectual freedom,
• Ensuring academic integrity,
• Following the procedures without making concessions on intellectual property rights and ethical standards,
• Being transparent and clear in issues that require correction or explanation.
• Relationships with readers
Editors must make decisions taking into consideration the knowledge, skills, and expectations of all readers, researchers, and practitioners that they need. Editors must also ensure that the published studies should contribute to the literature and be original. Moreover, they must take notice of the feedback received from readers, researchers, and practitioners and provide explanatory and informative feedback.
Relationships with Authors
Editors have the following duties and responsibilities in their relations with authors:
• Editors must make positive or negative decisions about the studies' importance, originality, validity, clarity in wording, and suitability with the journal's aims and objectives.
• Editors must take the studies that are within the scope of the publication into the pre-review process unless there are serious problems with the study.
• Editors must not ignore positive suggestions made by reviewers unless there are serious problems with the study.
• New editors, unless there are serious issues, must not change the previous editor's decisions about the studies.
• "Blind Review and Review Process" must be published and editors must prevent possible diversions from the defined processes.
• Editors must publish an "Author's Guide" that is comprehensive enough in answering queries by authors. This guide must be updated regularly.
• The authors should be provided with explanatory and informative feedback.
Relationships with Reviewers
Editors have the following duties and responsibilities in their relations with reviewers:
Editors must;
• choose reviewers according to the subject of the study.
• provide the information and guidance reviewers may need during the review process.
• observe whether there are conflicting interests between reviewers and authors.
• keep the identities of reviewers confidential in a blind review.
• encourage the reviewers to review the manuscript in an unbiased, scientific, and objective tone.
• evaluate reviewers regularly based on criteria like performance and timing.
• develop practices and policies that increase the performance of reviewers.
• take the necessary steps to update the reviewer pool dynamically.
• prevent unkind and unscientific reviews.
• make an effort to ensure the reviewer pool has a wide range.
Relationships with the Editorial Board
Editors must make sure that the members of the editorial board follow the procedures in accordance with the publication policies and guidelines, and must inform the members about the publication policies and developments. The editors must also train new members of the editorial board and provide the information they need.
Moreover, editors must;
• ensure that the members of the editorial board review the manuscripts in an unbiased and independent manner.
• select the new members of the editorial board from those who can contribute to the journal and are qualified enough.
• send manuscripts for review based on the subject of expertise of the editorial board members.
• regularly communicate with the editorial board.
• arrange regular meetings with the editorial board for the development of publication policies and the journal.
Relationships with the Journal's Owner and Publisher
The relationship between the editors and publishers is based on the principle of the independence of editors.
Editorial and Blind Review Processes
Editors are obliged to comply with the policies of the "Blind Review and Review Process" stated in the journal's publication policies. Therefore, the editors ensure that each manuscript is reviewed in an unbiased, fair, and timely manner.
Quality Assurance
Editors must make sure that articles in the journal are published in accordance with the publication policies of the journal and international standards.
Protection of Personal Information
Editors are supposed to protect the personal information related to the subjects or visuals in the studies being reviewed and to reject the study if there is no documentation of the subjects' consent. Furthermore, editors are supposed to protect the personal information of the authors, reviewers, and readers.
Encouraging Ethical Rules and the Protection of Human and Animal Rights
Editors are supposed to protect human and animal rights in the studies being reviewed and must reject the experimental studies which do not have ethical and related committee’s approval about the population given in such studies.
Precautions against possible Abuse and Malpractice
Editors are supposed to take precautions against possible abuse and malpractice. They must conduct investigations meticulously and objectively in determining and evaluating complaints about such situations. They must also share the results of the investigation.
Ensuring Academic Integrity
Editors must make sure that the mistakes, inconsistencies, or misdirections in studies are corrected quickly.
Protection of Intellectual Property Rights
Editors are responsible for protecting the intellectual property rights of all the articles published in the journal and the rights of the journal and author(s) in cases where these rights are violated. Also, editors must take the necessary precautions in order to prevent the content of all published articles from violating the intellectual property rights of other publications.
Constructiveness and Openness to Discussion
Editors must;
• pay attention to the convincing criticism about studies published in the journal and must have a constructive attitude towards such criticism.
• grant the right of reply to the author(s) of the criticized study.
• not ignore or exclude the study that includes negative results.
Complaints
Editors must examine the complaints from authors, reviewers, or readers and respond to them in an explanatory and enlightening manner.
Political and Economic Apprehensions
Neither the owner of the journal, publisher, or any other political or economical factor can influence the independent decision making of the editors.
Conflicting Interests
Editors, acknowledging that there may be conflicting interests between reviewers and other editors, guarantee that the publication process of the manuscripts will be completed in an independent and unbiased manner.
Ethical Responsibilities of Reviewers
The fact that all manuscripts are reviewed through “Blind Review” has a direct influence on the publication quality. This process ensures confidentiality by an objective and independent review. The review process at Eskişehir Osmangazi University Journal of Economics and Administrative Sciences is carried out on the principle of double-blind review. Reviewers do not contact the authors directly, and the reviews and comments are conveyed through the journal management system. In this process, the reviewer comments on the evaluation forms, and full texts are assigned to the author(s) by the editor. In this context, the reviewers doing review work for Eskişehir Osmangazi University Journal of Economics and Administrative Sciences are supposed to bear the following ethical responsibilities:
Reviewers must;
• agree to review only in their subject of expertise.
• review in an unbiased and confidential manner.
• inform the editor of the journal if they think that they encounter a conflict of interest and decline to review the manuscript during the review process.
• dispose of the manuscripts they have reviewed in accordance with the principle of confidentiality after the review process. Reviewers can use the final versions of the manuscripts they have reviewed only after publication.
• review the manuscript objectively and only in terms of its content and ensure that nationality, gender, religious and political beliefs, and economic apprehension do not influence the review.
• review the manuscript in a constructive and kind tone, avoid making personal comments including hostility, slander, and insult.
• review the manuscript they have agreed to review on time and in accordance with the ethical rules stated above.
Ethical Responsibilities of Publisher
Cem Işık, the publisher of Journal of EKONOMİ (EKONOMİ), is a non-profit journal. Therefore, the Board of Journal of EKONOMİ (EKONOMİ) is conscious of the fact that they must observe the ethical responsibilities below and act accordingly:
• Editors are responsible for all the processes that the manuscripts submitted to the Journal of EKONOMİ (EKONOMİ) will go through. Within this framework, ignoring the economic or political interests, the decision-makers are the editors.
• The publisher undertakes to have an independent editorial decision made.
• The publisher bears all the responsibility to take precautions against scientific abuse, fraud, and plagiarism.
Unethical Behavior
Should you encounter any unethical act or content in Journal of EKONOMİ (EKONOMİ) apart from the ethical responsibilities listed above, please notify the journal by e-mail at ekonomi@anadolu.edu.tr
Editorial Policy
1. Journal of EKONOMİ (EKONOMİ) is a peer-reviewed and periodical journal published two times-- in the months of June and December-- in a year. The journal includes theoretical and applied studies, book reviews, translations, and conversations in the fields of economics, management, finance, public administration, political sciences, and international relations. The academic studies from other fields of social sciences are not included in the journal. The language of publication of the journal is Turkish and English.
2. The articles sent to the journal are subjected to the preliminary examination as to form and content at first. Form requirements and submission process must be carried out in accordance with the conditions of the Journal. The works that do not comply with these are subject to editorial refusal. The articles found acceptable in terms of form and content are presented to the editorial board to appoint referees. No guarantee is given for an article submitted to the journal to be taken into the referee process. In addition to this, the date for the evaluation process of the articles will not definitely be given.
3. Articles submitted to the journal are sent to at least two reviewers specialized in the subject field of the article for evaluation. In case that one of the referee reports is positive, and a second referee is negative, the publication decision is made by the journal editors. If necessary, the editorial board can send the article to a third reviewer for evaluation.
4. An author whose article published in the journal cannot make an application for publishing a new article in the same year. To publish the second article of the author, at least two years is necessary to be passed.
5. Articles submitted to the journal are not included in the evaluation process of another journal at the same time; nowhere should it have been previously accepted or published. Responsibility for this matter belongs to the author(s) of the article.
Price Policy
No submission and publication fees or page charges.
Authors do not pay any fee for submission or publication.
Indexes
Journal Boards
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Xiao Gu is a Assistant Researcher at the Hangzhou Open University,He received his doctorate from Liaoning University.In recent years, He has published many articles in reputable journals, including Energy Economics,Journal of Environmental Management, Gondwana Research, Stochastic Environmental Research and Risk Assessment,etc.
His scholarly works demonstrate an unwavering commitment to his research pursuits and have substantially influenced his area of expertise. Located in the nexus of academia and technical proficiency, he continues to drive innovation and academic discourse in his role at the University.
Tina Šegota is an Associate Professor in Tourism and holds the Vice Dean of Science and Research position at the Faculty of Tourism at the University of Maribor, Slovenia. Her research interests include destination marketing and advertising, sustainable tourist behaviour, tourism seasonality, quality of life, and families and children in tourism destinations.
As the first video article in Turkey, it was featured in the Journal of Ekonomi.
Instagram: @journalofekonomi
YouTube: Journal of Ekonomi
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* (Kuru ve Balkan, 2020: Türkiye Ekonomisi Özel Sayısı, 5-9)
* (Işık et al., 2019: 1(1): 1-27)
* (Radulescu and Sandra, 2019 1(1): 28-32)
* (Berger, 2019, 1(1): 43-48)
* (Özelli, 2019 1(1): 49-83)
* (Crenguta, 2019 1(1): 84-86)
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