Bankacılık ve Sigortacılık Bölümü Koleksiyonu

Permanent URI for this collectionhttps://gcris.khas.edu.tr/handle/20.500.12469/69

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    Citation Count: 18
    Exploring the Impact of Sustainability on Corporate Financial Performance Using Discriminant Analysis
    (MDPI, 2020) Keskin, Ayşe İrem; Dinçer, Banu; Dinçer, Caner
    The impact of sustainability on corporate financial performance has been an important subject of both academic and professional debate since the 1990s. However, there is a lack of consensus in the literature, and studies from developing countries remain scarce. Accordingly, this study uses discriminant analysis to shed light on the variables that discriminate between sustainable and non-sustainable companies using the companies included in Borsa Istanbul (BIST100) (Istanbul Stock Exchange) and the Borsa Istanbul Sustainability Index for a three-year period. Financial and market variables are used in the analysis. Financial variables include the return on equity (ROE), return on assets (ROA), leverage ratios, and company size. The analysis also incorporates market variables such as alpha, beta, volatility, earnings per share, and the price to book ratio. The results show that the relationship between sustainability and performance is significantly influenced by the company size, leverage, volatility, and price to book ratio. The large companies are considered to be more sustainable as their commitment is well recognized. In this way, they attract more investors. Therefore, their stock prices are less volatile and achieve a better price to book ratio. They obtain easy access to external financing compared to companies considered to be non-sustainable. Moreover, they are less volatile in the market and better valued by investors.
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    Citation Count: 5
    The Relationship between Economic Growth and Income Distribution in Turkey and the Turkish Republics of Central Asia and Caucasia: Dynamic Panel Data Analysis with Structural Breaks
    (Springer International Publishing, 2013) Azer, Özlem Arzu; Azer, Özlem Arzu
    In this study the effect of economic growth on income distribution was tested using data from Central Asian and Caucasian countries’ economies (Azerbaijan Kazakhstan Kyrgyzstan Tajikistan Turkmenistan and Uzbekistan) and Turkish economy over the period of 1995 to 2009. New generation panel data methods which consider cross-section dependence and structural breaks among countries were used for the analysis. The results indicate that there exists co-integration among the series. We found that that the economic growth had a negative effect on the income distributions across the countries. In particular the results show that the economic growth improved the income distribution in Turkey and Azerbaijan. © 2013 Eurasia Business and Economics Society.