SÜRDÜRÜLEBİLİRLİK, KURUMSAL SOSYAL SORUMLULUK VE FİNANSMANA ERİŞİM ARASINDAKİ İLİŞKİNİN İNCELENMESİ: BIST ÖRNEĞİ

Öz

Bu çalışmada sürdürülebilirlik ve kurumsal sosyal sorumluğun firmaların finansmana erişimi üzerindeki etkileri incelenmiştir. Bu amaçla BIST Tüm Endekste işlem gören ve eksik verisi olmayan 242 firmanın 2014-2019 yıllarını kapsayan verileri kullanılmıştır. Elde edilen bulgulara göre firmaların BIST Sürdürülebilirlik Endeksinde işlem görmelerinin, kurumsal sosyal sorumluluk komitesine sahip olmalarının ve kurumsal sosyal sorumluluk raporu yayımlamalarının finansmana erişimi kolaylaştırdığı görülmüştür. Buna ek olarak, yayımlanan kurumsal sosyal sorumluluk raporlarına dış güvence hizmeti sağlanmasının finansmana erişim üzerinde anlamlı bir etkisinin olmadığı tespit edilmiştir. Sonuçlar firmaların finansmana erişiminin alternatif ölçüm yöntemleriyle de temsil edildiği ek analizlerden elde edilen bulgularla da desteklenmiştir.

Anahtar Kelimeler

• Sürdürülebilirlik
• Kurumsal Sosyal Sorumluluk
• Finansmana Erişim
• BIST

INVESTIGATION OF THE RELATIONSHIP BETWEEN SUSTAINABILITY, CORPORATE SOCIAL RESPONSIBILITY AND ACCESS TO FINANCE: BIST CASE

Abstract

This study aims to investigate the effects of sustainability and corporate social responsibility on access to finance. In line with this purpose, data covering the years 2014-2019 of 242 firms having required data and operating in BIST All Shares Index were used. According to findings, it has been found that being traded in the BIST Sustainability Index, having corporate social responsibility committee and publishing corporate social responsibility report eases access to finance. In addition, having external assurance on corporate social responsibility reports has no significant effects on access to finance. These results have been also supported by additional analyses using alternative proxies for access to finance.

Keywords

• Sustainability
• Corporate Social Responsibility
• Access to Finance
• BIST

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