An analysis on the share value of companies listed in the BIST sustainability index

Sustainability has increased its importance even more with the global crisis that the world has been experiencing recently. Increasing investors' expectations from companies not only financially but also socially increased the importance of corporate sustainability in companies. In this direction, the Sustainability Index has been calculated and published in Borsa İstanbul A.Ş. as price and return with the code XUSRD since 4 November 2014. The purpose of this study is to measure the impact of integrating with the BIST Sustainability Index on the stock values of companies listed. According to the relationships established in the correlation analysis, regression analysis was conducted to examine the multi-level relationship of the stock value with beta, profitability, earnings per share, price-earnings ratio, returns on invested capital, total debt to equity ratio, current ratio, gross profitability, and return on equity profitability. In the study, the financial data of 65 companies traded in the index between 2015-2018 periods were used for 2010-2018 periods. The study shows that being in the BIST Sustainability Index has no effect on the financial performance of companies.