Corporate Governance’s Impact on Sustainable Finance: An Analysis of Borsa Istanbul Energy Sector Companies

Cemal Zehir, Mustafa Özyeşil, Alex Borodin (), Esin Benhür Aktürk, Sara Faedfar and Mustafa Çikrikçi
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Cemal Zehir: Department of Business Administration, Yildiz Technical University, Istanbul 34220, Turkey
Mustafa Özyeşil: Anadolu Bil Higher Vocational School, Istanbul Aydın University, Istanbul 34295, Turkey
Alex Borodin: Department of Sustainable Development Finance, Plekhanov Russian University of Economics, 117997 Moscow, Russia
Esin Benhür Aktürk: Anadolu Bil Higher Vocational School, Istanbul Aydın University, Istanbul 34295, Turkey
Sara Faedfar: Anadolu Bil Higher Vocational School, Istanbul Aydın University, Istanbul 34295, Turkey
Mustafa Çikrikçi: Faculty of Economics and Administrative Sciences, Istanbul Aydın University, Istanbul 34295, Turkey

Energies, 2023, vol. 16, issue 14, 1-12

Abstract: The main purpose of this study is to conduct an evaluation based on listed companies traded in the energy sector sub-market of Borsa Istanbul (BIST). This evaluation is conducted on a sample of 27 companies between 2016 and 2021. In this study, corporate governance indicators are used as independent variables, while financial performance indicators are used as dependent variables. Initially, descriptive statistics of the sample and correlations between variables were calculated and interpreted in the analysis, and the Panel Data Analysis method is applied for the interaction between variables. This study emphasizes the importance of global economic and social crises, rapid changes in communication technologies, and the concept of sustainability for businesses. The sustainability of financing is highlighted as vital for companies. The findings of the study may serve as a valuable resource for understanding the performance of companies operating in the energy sector sub-market of BIST and their relationships with sustainability.

Keywords: engineering; corporate governance; sustainability; CMB; financial performance; Borsa Istanbul exchange energy companies (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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