SÜRDÜRÜLEBİLİRLİK ENDEKSİNDE İŞLEM GÖREN FİRMALARIN FİNANSAL PERFORMANSI: OLAY ÇALIŞMASI ÖRNEĞİ
FINANCIAL PERFORMANCE OF FIRMS THAT OPERATE IN SUSTAINABILITY INDEX: EVENT STUDY CASE

Summary/Abstract: The purpose of this study is to measure the market reaction to the announcement of being included in BIST Sustainability Index. In this respect, the sample of the study is composed of 44 companies that operate in the BIST Sustainability index. The event study method was used to determine whether the announcement of being listed in the index resulted in any significant influence on stock returns. According to the findings there is limited evidence that the effects of announcement of listing in BIST Sustainability Index on abnormal stock return. These limited evidence have also been observed in the cumulative abnormal returns. On the other hand, there is no statistically significant difference between abnormal returns of firms grouped by total asset, earnings per share, leverage and Tobin Q ratio.

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