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Article
Publication date: 28 August 2021

Guler Aras, Ozlem Kutlu Furtuna and Evrim Hacioglu Kazak

The main purpose of this paper is to evaluate to what extent a public university, named Yildiz Technical University, integrated report provides disclosure on International…

733

Abstract

Purpose

The main purpose of this paper is to evaluate to what extent a public university, named Yildiz Technical University, integrated report provides disclosure on International Integrated Reporting Council (IIRC) content elements, suggesting the presence of integrated thinking, and whether higher education institutions’(HEIs) characteristics could affect the level of disclosure on that framework. Additionally, the purpose of this paper is to identify whether the Yildiz Technical University follows the IIRC framework and how integrated reporting can enhance the value creation for HEIs’ stakeholders in the context of voluntary reporting.

Design/methodology/approach

To conduct integrated reporting framework in HEIs specifically from a public university perspective, this paper has used a case study approach. Research data have been triangulated through interviews, questionnaires and finally, documents and archival records.

Findings

This paper gives insights into the reporting practices from a public institution, specifically from HEIs. Delivering high-quality services in an economically, environmentally and socially sustainable manner is significant to public accountability and transparency. The Yildiz Technical University has been the best example in disclosing non-financial information to its stakeholders and enhancing the accountability tool.

Practical implications

This paper can be a leading practice and can be considered as an integrated reporting framework for HEIs willing to follow the same path.

Originality/value

To the best of the authors’ knowledge, this paper is the first to investigate the integrated reporting framework in a developing country, under HEIs and specifically for a public university.

Details

International Journal of Sustainability in Higher Education, vol. 23 no. 2
Type: Research Article
ISSN: 1467-6370

Keywords

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Article
Publication date: 9 July 2021

Guler Aras, Ozlem Kutlu Furtuna and Evrim Hacioglu Kazak

The purpose of this study is to shed light on the association between stakeholders’ materiality and the sustainable development goals (SDGs), highlighting how higher education…

858

Abstract

Purpose

The purpose of this study is to shed light on the association between stakeholders’ materiality and the sustainable development goals (SDGs), highlighting how higher education institutions (HEIs) can pursue sustainable development and provide a holistic perspective by mapping material issues. This paper provides a clear understanding of the universities’ role, specifically a state university in a developing country in fostering sustainable development. Particularly, this study identifies where the service industry and Yildiz Technical University (YTU) can contribute to the SDGs.

Design/methodology/approach

This methodology contains three stages. In the first stage, the Sustainability Accounting Standards Board categories have been mapped to the SDGs, in the second stage mapping of the service sector and its industries has been carried out. Additionally, the methodology was based on an exploratory case study.

Findings

This paper provides empirical results on the significance of the service sector, education and YTU in contributing to the SDGs. Moreover, this paper provides a framework by mapping the material issues on how the education sector can make contributions to the SDGs.

Practical implications

Exhibiting how HEIs’ implement integrated thinking and voluntarily implemented International Integrated Reporting Council guidelines can assist policymakers to make regulations based on the voluntary reporting framework.

Social implications

This paper contributes to increasing academics’ awareness of sustainability practices. The research process and findings of this study can assist policymakers to make regulations based on the HEIs’ voluntary reporting framework.

Originality/value

This study is the first to identify specifically where the service industry and specifically a state university in a developing country can contribute to the SDGs and one of a few in the emerging academic studies. Additionally, how integrated reporting can contribute to value creation by establishing and proactively achieving the SDGs.

Details

International Journal of Sustainability in Higher Education, vol. 23 no. 1
Type: Research Article
ISSN: 1467-6370

Keywords

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Article
Publication date: 14 August 2017

Guler Aras, Nuray Tezcan, Ozlem Kutlu Furtuna and Evrim Hacioglu Kazak

The purpose of this paper is to measure Garanti Bank’s corporate sustainability performance along with the main indicators of economic, social and environmental factors, taking…

1770

Abstract

Purpose

The purpose of this paper is to measure Garanti Bank’s corporate sustainability performance along with the main indicators of economic, social and environmental factors, taking into consideration of the governance indicators.

Design/methodology/approach

Recent global economic developments indicate that the main corporate sustainability indicators of economic, environmental and social factors are insufficient for the sustainability practices of the companies. Along with these indicators, a good administrative structure should be evaluated as a whole to measure the sustainability performance. For measuring corporate sustainability performance of the bank along with the economic, environmental, social and governance dimensions of corporate sustainability, content analysis, entropy and technique for order preference by similarity to ideal solution (TOPSIS) methods are used with a total of four corporate sustainability reports published by Garanti Bank within the period of 2010-2014.

Findings

The results depict that the sustainability performance of Garanti Bank tends to increase during the time span. Among all dimensions, economic dimension has the highest impact on overall sustainability performance, as it has the highest weight in entropy. On contrary, governance dimension has the lowest impact on overall performance.

Research limitations/implications

This paper has implications in enhancing the understanding of corporate sustainability measurement both using content analysis, and TOPSIS particularly in a developing country, although it is limited by the size of the corporate sustainability reports and time span.

Originality/value

This paper attempts to reveal an emerging banking sector specific corporate sustainability materiality. This is the first study in Turkey which includes both qualitative and quantitative data analysis techniques considering the content analysis and TOPSIS.

Details

Meditari Accountancy Research, vol. 25 no. 3
Type: Research Article
ISSN: 2049-372X

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Article
Publication date: 12 December 2023

Ozlem Kutlu Furtuna and Hilal Sönmez

This paper aims to examine the effect of critical mass of women managers on corporate boards on the voluntary disclosure of climate change in a developing country in which the…

298

Abstract

Purpose

This paper aims to examine the effect of critical mass of women managers on corporate boards on the voluntary disclosure of climate change in a developing country in which the regulations on climate change disclosure is an area of growing research interest.

Design/methodology/approach

This study uses logistic panel regression models with a sample of 1,001 firm-years for companies in the Borsa Istanbul 100 Index that were asked to disclose voluntary climate change indicators over the seven-year period from 2014 to 2020 through the Carbon Disclosure Project.

Findings

This paper provides evidence from an emerging country that the critical mass of women on the board has no impact on voluntary climate change disclosure. In addition, the presence of independent managers on the board was found to have a significant impact on climate change disclosure. In addition, the results show that larger companies are more likely to report their climate change activities. Large companies are more visible due to their size, are perceived by stakeholders as more polluting and are, therefore, more likely to report on the environment.

Social implications

The results show that the critical mass of women on the board has no effect on voluntary disclosure of climate change. Empirical tests are still needed to strengthen the overall validity of the critical mass of at least three women on boards in Türkiye.

Originality/value

Despite many valuable insights provided by critical mass theory, very few studies directly address critical mass and voluntary disclosure of climate change. To the best of the authors’ knowledge, this study is the first empirical and comprehensive paper in the Turkish context evaluating critical masses and voluntary corporate climate change giving a comparison between firms listed on financial industry and nonfinancial industry.

Details

Social Responsibility Journal, vol. 20 no. 5
Type: Research Article
ISSN: 1747-1117

Keywords

Available. Open Access. Open Access
Article
Publication date: 21 November 2023

Gultakin Gahramanova and Özlem Kutlu Furtuna

There has been an increase in research examining whether and how companies disclose climate change impacts and how these disclosures influence capital structure strategies in…

1618

Abstract

Purpose

There has been an increase in research examining whether and how companies disclose climate change impacts and how these disclosures influence capital structure strategies in recent years. However, prior literature has generally focused on developed countries. This paper proposes to examine the impact of voluntary climate change disclosures on corporate financing decisions in an emerging economy.

Design/methodology/approach

The dataset includes 335 firm-year observations listed in the Borsa Istanbul (BIST) 100 manufacturing industry firms that participated in the Carbon Disclosure Project (CDP) questionnaire from 2016 to 2020, characterized by high public awareness of greenhouse gas emissions in Turkey. To accomplish this aim, two models have been constructed that link capital structure strategies with voluntary corporate climate change disclosures while controlling for firm-level attributes in terms of size, profitability, market value and free float ratio (FFR).

Findings

The significant and negative relationship between the voluntary disclosure of climate-related activities and long-term borrowing is consistent with the arguments that companies with high commitments are unlikely to reduce default risk in emerging markets. This paper also provides empirical evidence that the high size and the level of low profitability magnify this relationship between CDP and financial leverage.

Originality/value

The Paris Agreement seems to be a significant point where corporate lenders have become aware of the commitment of policymakers to fight climate change. The results have significant implications for both managerial strategies and environmental regulatory policy-making issues. In addition, the findings shed light on the strategic behavior of managers in the consideration of climate change risks and related transparency.

Details

Journal of Capital Markets Studies, vol. 7 no. 2
Type: Research Article
ISSN: 2514-4774

Keywords

Available. Open Access. Open Access
Article
Publication date: 12 June 2018

Guler Aras, Nuray Tezcan and Ozlem Kutlu Furtuna

The purpose of this paper is to assess the financial performance of the intermediary institutions that have operated in the Turkish capital markets taking the issue of bank-origin…

3177

Abstract

Purpose

The purpose of this paper is to assess the financial performance of the intermediary institutions that have operated in the Turkish capital markets taking the issue of bank-origin and non-bank-origin institutions into account.

Design/methodology/approach

Financial performance of the intermediary institutions has been measured by the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method between the years 2005 and 2016. In order to implement the TOPSIS method, the relative importance of financial performance indicators has been determined by Entropy, survey results and considering equal weights approaches.

Findings

Empirical findings indicate that the average performances of continuously operating intermediary institutions during the concerned period are above the average performance levels of all intermediaries. Additionally, the average rank of bank-origin intermediary institutions have been found higher than the non-bank origins for all years. This reveals that the average financial performance of the bank-origin intermediary institutions is higher than the average score of non-bank origins during the related years.

Originality/value

This study is unique in terms of evaluating the performance of intermediary institutions in Turkish capital markets with a comprehensive framework. Determining the relative importance of financial performance indicators according to entropy, survey results and equal-weight approaches and revealing the average financial performance ranking methodology for bank-origin and non-bank-origin intermediary institutions have added value.

Details

Journal of Capital Markets Studies, vol. 2 no. 1
Type: Research Article
ISSN: 2514-4774

Keywords

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Article
Publication date: 4 October 2011

Guler Aras, Asli Aybars and Ozlem Kutlu

Corporate social responsibility (CSR) has become one of the mainstream issues for sustainable corporate performance in recent decades. Engagement in CSR activities has proven to…

1974

Abstract

Purpose

Corporate social responsibility (CSR) has become one of the mainstream issues for sustainable corporate performance in recent decades. Engagement in CSR activities has proven to have certain benefits for companies, ranging from better financial performance to shareholder wealth maximisation. Companies' value creation process has been dominated by companies' hidden assets and concurrently the concept of value added intellectual capital (VAIC). The purpose of this study is to provide evidence from an emerging market about the interaction between CSR and VAIC, and thus contribute to the understanding and awareness of the significance of socially responsible investments for companies.

Design/methodology/approach

The empirical analyses, which take into account VAIC and its dimensions, are conducted on a sample of manufacturing companies listed on the Istanbul Stock Exchange (ISE) during the period 2007‐2008. It is shown that some causality is related to the existence of a lag during the periods for the variables CSR and VAIC. Based on previous empirical studies, this study conducts the analyses based on the assumption that there may be a relationship between firm age, financial leverage, return on sales and market‐to‐book ratio and CSR.

Findings

The results fail to provide any significant relationship between CSR and VAIC during the period analysed. These findings should not overshadow the benefits of CSR, but should be attributed to the time it takes for these investments to have an impact on firms' intellectual capital.

Practical implications

A larger sample of firms covering a longer time span could be utilised. Generation of a CSR index in Turkey that eliminates the subjectivity of CSR measurement will undoubtedly improve the accuracy of the analyses.

Originality/value

This paper increases the understanding of the relationship between corporate social responsibility and value‐added intellectual capital. This research is also the first research to have examined Turkish companies for CSR and VAIC issues.

Details

Social Responsibility Journal, vol. 7 no. 4
Type: Research Article
ISSN: 1747-1117

Keywords

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Article
Publication date: 16 March 2010

Güler Aras, Aslı Aybars and Ozlem Kutlu

Corporate social responsibility is important and fundamental to the sustainable operations of corporations. Similarly financial performance is undoubtedly fundamental to the…

17897

Abstract

Purpose

Corporate social responsibility is important and fundamental to the sustainable operations of corporations. Similarly financial performance is undoubtedly fundamental to the continuing operating of any corporation. This paper aims to investigate the relationship between corporate social responsibility and firm financial performance.

Design/methodology/approach

The main part of this paper is based upon an exploration of the relationship between corporate social responsibility and financial performance in developing countries. The authors do this by investigating the Istanbul Stock Exchange (ISE) 100 index companies and their social responsibility policy and financial indicators. The relationship between CSR and financial performance is empirically examined between 2005 and 2007 with different approaches and measurement methods. The authors show that some causality is related to lagging between periods for financial performance and CSR. Based upon previous empirical studies, this study conducts the analysis based on the assumption that there may be a relationship between firm size, profitability, risk level and CSR.

Findings

In doing this analysis the authors found a relationship between firm size and corporate social responsibility. However the authors were not able to find any significant relationship between corporate social responsibility and financial performance/profitability.

Research limitations/implications

The paper has implications in enhancing the understanding of performance management through understanding the relationship between corporate social responsibility and financial performance particularly in a developing country, although it is necessarily limited by the size of the sample.

Originality/value

This paper increases the understanding of the relationship between corporate social responsibility and financial performance. This research is also the first research that has examined Turkish companies.

Details

International Journal of Productivity and Performance Management, vol. 59 no. 3
Type: Research Article
ISSN: 1741-0401

Keywords

Available. Content available
Article
Publication date: 16 March 2010

John Heap

450

Abstract

Details

International Journal of Productivity and Performance Management, vol. 59 no. 3
Type: Research Article
ISSN: 1741-0401

Available. Open Access. Open Access
Article
Publication date: 30 July 2018

Güler Aras

507

Abstract

Details

Journal of Capital Markets Studies, vol. 2 no. 1
Type: Research Article
ISSN: 2514-4774

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