Examining The Relationship Between Financial Performance and Environmental Performance in Terms of The Banking Sector

Abstract

After the global crisis in 2008, climate change gained importance and the global implementation of new policies and regulations became widespread. It is observed that the effects of the strong environmental performance adopted with these policies on variables such as economic, social and financial have increased. In the study, it is aimed to examine the effect of environmental performance on financial performance in terms of the Turkish banking sector. The relationships between the variables were tested with the Toda-Yamamoto and ARDL tests using the 1990-2019 time frame. As a result of the analyzes, it was determined that the return on assets and carbon dioxide emissions were related in the long term, and carbon dioxide emissions had a positive effect on the return on assets; It has been determined that there is a positive and unidirectional causality relationship from carbon dioxide emissions to return on assets

Keywords

• Banking
• Carbon Dioxide Emissions
• Cointegration
• Causality

Finansal Performans ve Çevresel Performans İlişkisinin Bankacılık Sektörü Açısından İncelenmesi

Öz

2008’deki küresel krizden sonra iklim değişikliği önem kazandı ve yeni politika ve düzenlemelerin küresel anlamda uygulanması yaygınlaştı. Bu politikalarla benimsenen güçlü çevresel performansın ekonomik, sosyal ve finansal gibi değişkenler üzerindeki etkilerinin arttığı görülmektedir. Çalışmada, çevresel performansın finansal performans üzerindeki etkisinin Türkiye bankacılık sektörü açısından incelenmesi amaçlanmaktadır. Değişkenler arasındaki ilişkiler 1990-2019 zaman dilimi kullanılarak Toda-Yamamoto ve ARDL testileri ile sınanmıştır. Analizler sonucunda aktif karlılık ve karbondioksit emisyonlarının uzun dönemde ilişkili oldukları, karbondioksit emisyonunun aktif karlılık üzerinde pozitif etkiye sahip olduğu; karbondioksit emisyonlarından aktif karlılığa doğru pozitif ve tek yönlü bir nedensellik ilişkisi olduğu belirlenmiştir.

Anahtar Kelimeler

• Bankacılık
• Karbondioksit Emisyonları
• Eşbütünleşme
• Nedensellik

Kaynakça

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