SavedAdd your journal

Journals / Sosyoekonomi / 2020 / Cilt: 28 - Sayı: 46

Environmental Disclosure: Determinants and Effects on Financial Performance? An Empirical Evidence from Turkey

Çevresel Açıklama: Belirleyiciler ve Finansal Performans Üzerindeki Etkileri? Türkiye’den Ampirik Bir Kanıt

İsmail KALASH
Pages
95–115
Publication Date
2020-10-31
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

However, the results indicated that profitability, industry type, information asymmetry, investment opportunities and business risk do not affect the probability that the firm will disclose environmental information.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This article investigates the determinants of environmental disclosure and its effect on financial performance.
📊
Key Findings & Data:Using a sample of 66 firms listed on Istanbul Stock Exchange during the period 2014-2018, we find that highly leveraged and larger firms, and firms with higher equity agency costs are more likely to disclose environmental information.
💡
Conclusion & Impact:However, the results indicated that profitability, industry type, information asymmetry, investment opportunities and business risk do not affect the probability that the firm will disclose environmental information.
🔬Design:Research Article
📍Scope:2014-2018 Verileri
⚙️Variables:Çevresel Açıklama · Belirleyiciler · Finansal Performans

Abstract

This article investigates the determinants of environmental disclosure and its effect on financial performance. Using a sample of 66 firms listed on Istanbul Stock Exchange during the period 2014-2018, we find that highly leveraged and larger firms, and firms with higher equity agency costs are more likely to disclose environmental information. However, the results indicated that profitability, industry type, information asymmetry, investment opportunities and business risk do not affect the probability that the firm will disclose environmental information. Finally, we find a weak evidence that environmental disclosure affects the financial performance of Turkish firms.

Özet

Bu çalışma, çevresel açıklamanın belirleyicileri ve finansal performans üzerindeki etkilerini incelemektedir. Borsa İstanbul’da (BİST) hisse senetleri işlem gören 66 firmanın 2014-2018 yıllarına ait verilerini kullanarak yüksek kaldıraca ve yüksek özkaynağın temsilci (vekalet) maliyetlerine sahip firmalar ve büyük firmaların çevresel bilgiler açıklama olasılığının daha yüksek olduğu tespit edilmiştir. Yine, karlılık, endüstri tipi, bilgi asimetrisi, yatırım fırsatları ve faaliyet riskinin firmanın çevresel bilgiler açıklama ihtimalini etkilemediği ortaya çıkmıştır. Bununla birlikte, çevresel açıklamanın Türk firmaların finansal performansını etkilediği ile ilgili zayıf bir kanıt bulunmuştur.

🔖

Cite This Article

KALASH, İ. (2020). Environmental Disclosure: Determinants and Effects on Financial Performance? An Empirical Evidence from Turkey. Sosyoekonomi, Cilt: 28 - Sayı: 46, 95–115. https://ajindex.com/articles/139281

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (14)

  1. Aboud, A. & A. Diab (2018), "The Impact of Social, Environmental and Corporate Governance Disclosures on Firm Value: Evidence from Egypt", Journal of Accounting in Emerging Economies, 8(4), 442-458.
  2. Ahmadi, A. & A. Bouri (2017), "The Relationship Between Financial Attributes, Environmental Performance and Environmental Disclosure", Management of Environmental Quality, 28(4), 490-506.
  3. Akbaş, H. E. & S. Canikli (2019), “Determinants of Voluntary Greenhouse Gas Emission Disclosure: An Empirical Investigation on Turkish Firms”, Sustainability, 11, 107, 1-24.
  4. Akbaş, H. E. (2014), “Company Characteristics and Environmental Disclosure: An Empirical Investigation on Companies Listed on Borsa Istanbul 100 Index”, The Journal of Accounting and Finance, 62, 145-164.
  5. Akrout, M. M. & H. B. Othman (2016), “Ownership Structure and Environmental Disclosure in Mena Emerging Countries”, Corporate Ownership & Control, 13(4), 381-388.
  6. Al-Tuwaijri, S. A. & T. E. Christensen & K. E. Hughes II (2003), “The Relations Among Environmental Disclosure, Environmental Performance, and Economic Performance: A Simultaneous Equations Approach”, http://dx.doi.org/10.2139/ssrn.405643.
  7. Andrikopoulos, A. & N. Kriklani (2013), “Environmental Disclosure and Financial Characteristics of the Firm: The Case of Denmark”, Corporate Social Responsibility and Environmental Management, 20, 55-64.
  8. Ang, J. S. & R. A. Cole & J. W. Lin (2000), “Agency Costs and Ownership Structure. The Journal of Finance, 55(1), 81-106.
  9. Ashfaq, K. & Z. Rui, (2019) "Revisiting the Relationship Between Corporate Governance and Corporate Social and Environmental Disclosure Practices in Pakistan", Social Responsibility Journal, 15(1), 90-119.
  10. Braam, G. & L. Uit de Weerd & M. Hauck & M. Huijbregts (2016), “Determinants of Corporate Environmental Reporting: the importance of environmental performance and assurance”, Journal of Cleaner Production, 129, 724-734.
  11. Brammer, S. & S. Pavelin (2006), “Voluntary Environmental Disclosures by Large UK Companies”, Journal of Business Finance & Accounting, 33(7) & (8), 1168–1188.
  12. Brammer, S. & S. Pavelin (2008), “Factors Influencing the Quality of Corporate Environmental Disclosure”, Business Strategy and the Environment, 17(2), 120-136.
  13. Chandok, R. & S. Singh, (2017)," Empirical Study on Determinants of Environmental Disclosure", Managerial Auditing Journal, 32(4/5), 332-355.
  14. Clarkson, P. M. & M. B. Overell & L. Chapple (2011), “Environmental Reporting and its Relation to Corporate Environm