Impact of Corporate Social Responsibility on Firm’s Performance: The Case of Turkey

Year 2018, Volume: 19 Issue: 34, 185 - 214, 31.01.2018

Değer Alper , Ebru Aydoğan

https://doi.org/10.21550/sosbilder.319457

Cited By: 2

Abstract

The objective of this study is to
examine whether there is a relationship between the performances and corporate
social responsibility levels of companies traded in BIST Corporate Governance
Index between 2007 and 2015 in Turkey, which is an emerging market. Different
from the previous studies conducted in Turkey, the analysis is conducted with a
dynamic method, the System Generalized Moments Method (system GMM). Dependent
variable in the study is the company performance and as company performance
indicator accounting-based ROA and market-based Tobin’s Q ratios, as the
independent variable corporate social responsibility scores are utilized.
Control variables, are determined as company size and financial leverage.
Analysis results demonstrated that there is a positive and statistically
significant relationship between corporate social responsibility scores and
accounting-based ROA and market-based Tobin’s Q ratios.

Keywords

Corporate Social Responsibility, Firm Performance, Corporate Social Responsibility Index, Dynamic Panel Data Analysis, System GMM

KURUMSAL SOSYAL SORUMLULUĞUN FİRMA PERFORMANSINA ETKİSİ: TÜRKİYE ÖRNEĞİ

Abstract

Bu çalışmanın amacı gelişmekte olan bir ülke konumundaki Türkiye’de,
2007-2015 yılları arasında BIST Kurumsal Yönetim Endeksi’nde işlem gören
firmaların finansal performansları ile kurumsal sosyal sorumluluk düzeyleri
arasındaki ilişkiyi analiz etmektir.  Çalışmada,
Türkiye’de yapılan diğer çalışmalardan farklı olarak dinamik bir metot olan
Sistem Genelleştirilmiş Momentler Metodu (sistem GMM) kullanılmıştır. Çalışmada bağımlı değişken olarak muhasebe temelli ROA ve
piyasa temelli Tobin’s Q olmak üzere iki oran, bağımsız değişken firmaların
kurumsal sosyal sorumluluk notları kullanılmıştır. Ayrıca finansal kaldıraç ve
firma büyüklüğü kullanılan araç değişkenlerdir. Analiz sonucunda, firmaların KSS düzeyleri ile iki performans göstergesi
arasında da istatistiksel olarak pozitif ve anlamlı bir ilişki olduğu sonucuna
ulaşılmıştır.

Keywords

Kurumsal Sosyal Sorumluluk, Firma Performansı, Kurumsal Sosyal Sorumluluk Endeksi, Dinamik Panel Veri Analizi, Sistem GMM

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