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THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP

Sayı: 46 12 Şubat 2025
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THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP

Öz

The aim of this paper is to investigate the impact of sustainability on firm performance, along with the moderating role of industry in this relationship. While earlier work has examined the effect of sustainability on firm performance, whether the impact of firms’ sustainability efforts on firm performance differs depending on the industry has largely been ignored. This paper aims to fill this research gap by considering the relations between sustainability, firm performance and industry. The firm level data are obtained from Public Disclosure Platform. The hypotheses are tested using hierarchical ordinary least squares (OLS) regression. The findings show that sustainability has a positive impact on firm performance. However, industry does not moderate the relationship between sustainability and firm performance. This study aims to advance the prior research on sustainability by examining whether firms’ sustainability practices enhance their performance, and whether industry has an impact on this relationship in an emerging economy.

Anahtar Kelimeler

Sustainability, Firm Performance, Industry

Kaynakça

  1. Alareeni, B. A. and Hamdan, A. (2020). ESG Impact on Performance of US S&P 500-Listed Firms. Corporate Governance, 20(7), 1409-1428. https://doi.org/10.1108/CG-06-2020-0258
  2. Aldossary, M., Alyahya, M. and Agag, G. (2024). How and When Does Engaging Customers in Environmental Sustainability Pay Off? The Role of Business Strategy. Sustainability 16(12), 4924. https://doi.org/10.3390/su16124924
  3. Almulhim, T., Almubarak, N. and Aljabr, N. (2024). How to Comprehensively Evaluate Firm Performance from Operational, Financial, and Sustainability Perspectives? A Two-Stage Data Envelopment Analysis Approach. Emerging Markets Finance and Trade, 60(7), 1447-1467. https://doi.org/10.1080/1540496X.2023.2278651
  4. Al Hawaj, A. Y. and Buallay, A. M. (2022). A Worldwide Sectorial Analysis of Sustainability Reporting and Its Impact on Firm Performance. Journal of Sustainable Finance & Investment, 12(1), 62-86. https://doi.org/10.1080/20430795.2021.1903792
  5. Andries, P. and Stephan, U. (2019). Environmental Innovation and Firm Performance: How Firm Size and Motives Matter. Sustainability, 11(13), 3585. https://doi.org/10.3390/su11133585
  6. Atan, R., Alam, M. M., Said, J. and Zamri, M. (2018). The Impacts of Environmental, Social, and Governance Factors on Firm Performance: Panel Study of Malaysian Companies. Management of Environmental Quality: An International Journal 29(2), 182-94. https://doi.org/10.1108/MEQ-03-2017-0033
  7. Aupperle, K. E., Carroll, A. B. and Hatfield, J. D. (1985). An Empirical Examination of the Relationship between Corporate Social Responsibility and Profitability. The Academy of Management Journal, 28(2), 446-463.
  8. Azmi, W., Hassan, M. K., Houston, R. and Karim, M. S. (2021). ESG Activities and Banking Performance: International Evidence from Emerging Economies. Journal of International Financial Markets, Institutions and Money 70, 101277. https://doi.org/10.1016/j.intfin.2020.101277
  9. Bakos, J., Siu, M., Orengo, A. and Kasiri, N. (2020). An Analysis of Environmental Sustainability in Small & Medium-Sized Enterprises: Patterns and Trends. Business Strategy and the Environment, 29(3), 1285-1296.
  10. Banon-Gomis, Q. J., Parra, M. G., Hoffman., W. M. and McNulty, R. E. (2011). Rethinking the Concept of Sustainability. Business and Society Review 116(2), 171-191. https://doi.org/10.1111/j.1467-8594.2011.00381.x

Kaynak Göster

APA
Özen, Ö. (2025). THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP. Uluslararası İktisadi ve İdari İncelemeler Dergisi, 46, 125-138. https://doi.org/10.18092/ulikidince.1562003
AMA
1.Özen Ö. THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP. UİİİD. 2025;(46):125-138. doi:10.18092/ulikidince.1562003
Chicago
Özen, Özlem. 2025. “THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP”. Uluslararası İktisadi ve İdari İncelemeler Dergisi, sy 46: 125-38. https://doi.org/10.18092/ulikidince.1562003.
EndNote
Özen Ö (01 Şubat 2025) THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP. Uluslararası İktisadi ve İdari İncelemeler Dergisi 46 125–138.
IEEE
[1]Ö. Özen, “THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP”, UİİİD, sy 46, ss. 125–138, Şub. 2025, doi: 10.18092/ulikidince.1562003.
ISNAD
Özen, Özlem. “THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP”. Uluslararası İktisadi ve İdari İncelemeler Dergisi. 46 (01 Şubat 2025): 125-138. https://doi.org/10.18092/ulikidince.1562003.
JAMA
1.Özen Ö. THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP. UİİİD. 2025;:125–138.
MLA
Özen, Özlem. “THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP”. Uluslararası İktisadi ve İdari İncelemeler Dergisi, sy 46, Şubat 2025, ss. 125-38, doi:10.18092/ulikidince.1562003.
Vancouver
1.Özlem Özen. THE IMPACT OF SUSTAINABILITY ON FIRM PERFORMANCE AND THE ROLE OF INDUSTRY IN THIS RELATIONSHIP. UİİİD. 01 Şubat 2025;(46):125-38. doi:10.18092/ulikidince.1562003