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

Author

Listed:
  • Cemal Zehir

    (Department of Business Administration, Yildiz Technical University, Istanbul 34220, Turkey
    Center for Islamic Finance, Azerbaijan State University of Economics (UNEC), Baku AZ 1001, Azerbaijan)

  • 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)

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.

Suggested Citation

  • Cemal Zehir & Mustafa Özyeşil & Alex Borodin & Esin Benhür Aktürk & Sara Faedfar & Mustafa Çikrikçi, 2023. "Corporate Governance’s Impact on Sustainable Finance: An Analysis of Borsa Istanbul Energy Sector Companies," Energies, MDPI, vol. 16(14), pages 1-12, July.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:14:p:5250-:d:1189756
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    References listed on IDEAS

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    Cited by:

    1. Galina Panaedova & Alex Borodin & Cemal Zehir & Sergey Laptev & Andrey Kulikov, 2023. "Overview of the Russian Coal Market in the Context of Geopolitical and Economic Turbulence: The European Embargo and New Markets," Energies, MDPI, vol. 16(19), pages 1-29, September.

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