Kurumsal Sürdürülebilirliğin Firmaların Finansal Performansına Etkisi: BIST Kurumsal Sürdürülebilirlik Endeksindeki Firmalar Üzerine Bir Araştırma (Araştırma Makalesi)

The concept of corporate sustainability has become a remarkably significant concept throughout the World after the Brundtland Report published by the World Commission on Environment and Development (WCED) in 1987. While in the past, the businesses were only producing goods and services, nowadays, they are now perceived as the leaders of social and economic transition by placing more emphasis on corporate sustainability practices. The purpose of this study is to determine whether the corporate sustainability practices of firms affect their financial performances. In this study, publicly available financial information of 35 non-bank firms placed in BIST Corporate Sustainability Index from 2013 to 2016 was analyzed with panel data analysis. After the tests to determine the model estimator, Driscoll-Kraay robustestimator was selected. As a result of the analysis, the existence of a positive and statistically significant effect of corporat e sustainability on the financial performances of firms was founded.