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    Does ESG performance affect the financial performance of environmentally sensitive industries? A comparison between emerging and developed markets
    (Borsa Istanbul Anonim Sirketi, 2022) Naeem, Nasruzzaman; Cankaya, Serkan; Bildik, Recep
    Purpose- The study aims to investigate whether the ESG performance of corporations from environmentally sensitive industries has any effects on their financial performance and whether the impacts of the ESG performance of environmentally sensitive corporations differ between developed and emerging countries. Methodology- The ESG performance scores and financial performance scores for a 10-year period have been collected from the Thomson Reuters Eikon database and panel regression analyses have been carried out to evaluate the economic value of the ESG performance of these corporations. Findings- Our findings show that the overall ESG performance of environmentally sensitive corporations has a significant positive relationship with the return on equity (ROE) and the Tobin’s Q of the corporations. In addition, the overall ESG performance of the environmentally sensitive corporations from developed countries has positive impact on the ROE and on the Tobin’s Q whereas the ESG performance score of the environmentally sensitive corporations from emerging countries does not have any significant effect on their corporate financial performance. The findings also indicate that the impacts of the ESG performance of environmentally sensitive corporations on their financial performance are stronger in developed countries than in emerging countries. Conclusion- This study contributes to the literature by adding a better understanding of the ESG-financial performance relationship of environmentally sensitive corporations from both developed and emerging market contexts
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    News Sentiment and Cryptocurrency Volatility
    (Springer Science and Business Media Deutschland GmbH, 2019) Cankaya, Serkan; Alp, Elcin Aykac; Findikci, Mefule
    The cryptocurrency market has shown remarkable growth in the last decade, resulting in heightened interest in research on several aspects of cryptocurrencies. The drastic price fluctuations have attracted attention from investors, but they have also raised concerns from national regulatory institutions. Several studies are conducted to understand the factors and the dynamics of its value formation. It is becoming more important to be able to value cryptocurrencies as an investor and as part of the process to legitimize them as a financial asset. This study aims to contribute to this field of research by examining the relationship between cryptocurrency’s volatile returns and the effects of different types of news on selected cryptocurrencies. This paper categorizes the news about cryptocurrencies and determines the effect of news from each category on the return structure of each cryptocurrency. By using 1054 news sources, 22 categories are created, and a clustering analysis is used to set these categories into six groups. These groups are modelized in proper ARCH family models, which are created for different cryptocurrencies to analyze the effect on volatility. The results show that different cryptocurrencies react differently to various news categories. News about regulations from national authorities exhibit a significant effect on all selected cryptocurrencies. © Springer International Publishing AG, part of Springer Nature 2018.
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    Supply chain and ESG concerns in the food sector
    (IGI Global, 2024) Sönmezer, Sitki; Cankaya, Serkan
    The scope of the study is the examination of impact of ESG scores on the top 800 ESG-scored listed companies globally that may reflect supply chain performance. This study aims to shed light on how corporate governance issues affect supply chain processes. To this end, 800 globally listed companies are leveraged and assessed based on their ESG performance by incorporating Thomson Reuters environmental, social, and governance (ESG) scores into these models. The main objective of this study is to assess the extent to which environmental, social, and governance practices influence supply chain performance. To measure supply chain performance, the authors consider various indicators, including supply chain management score, monitoring score, and partnership termination scores. These metrics allow us to evaluate the effectiveness of supply chain processes over our sample period of ten years. To analyze the relationships between ESG scores and supply chain performance, the authors use partial least square (PLS) regression modeling. © 2024, IGI Global. All rights reserved.