Do agency costs and business risk affect the corporate sustainability-financial performance relationship?

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dc.contributor.authorKalash, Ismail
dc.date.accessioned2024-04-24T17:11:22Z
dc.date.available2024-04-24T17:11:22Z
dc.date.issued2024
dc.departmentDicle Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü Koleksiyonuen_US
dc.description.abstractPurposeThe aim of this research is to examine the effect of corporate sustainability performance on financial performance and the role of agency costs and business risk in determining this effect.Design/methodology/approachThis study uses the data of 83 non-financial Turkish firms listed on Istanbul Stock Exchange during the period 2014-2021. Two-step system GMM models are applied to examine the study's hypotheses.FindingsThe results indicate a positive effect of corporate sustainability performance on financial performance, and that this effect is significant only for firms that are more likely to suffer agency costs of equity, firms with R&D expenditures and firms with lower business risk.Practical implicationsThe results of this study confirm the importance of regulations introduced by regulators to support the sustainability initiatives for firms that have less ability to access funds required for their investments. In addition, the findings provide important insight into the role of the persistence of corporate sustainability performance in enhancing financial performance through mitigating managers' opportunistic behavior.Originality/valueTo the author's knowledge, this research is one of few that examine the effect of agency costs and business risk on the corporate sustainability-financial performance relationship in emerging markets.en_US
dc.identifier.citationKalash, I. (2023). Do agency costs and business risk affect the corporate sustainability–financial performance relationship?. Journal of Economic and Administrative Sciences, 1-21.
dc.identifier.doi10.1108/JEAS-07-2023-0172
dc.identifier.issn1026-4116
dc.identifier.issn2054-6246
dc.identifier.scopus2-s2.0-85180818987
dc.identifier.scopusqualityQ3
dc.identifier.urihttps://doi.org/10.1108/JEAS-07-2023-0172
dc.identifier.urihttps://hdl.handle.net/11468/17442
dc.identifier.wosWOS:001133628400001
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.ispartofJournal of Economic and Administrative Sciences
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectCorporate sustainability performanceen_US
dc.subjectFinancial performanceen_US
dc.subjectAgency costsen_US
dc.subjectBusiness risken_US
dc.titleDo agency costs and business risk affect the corporate sustainability-financial performance relationship?en_US
dc.titleDo agency costs and business risk affect the corporate sustainability-financial performance relationship?
dc.typeArticleen_US

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