Examining the stock market performance of firms adopting green logistics practices as organizational culture

Environmental sustainability has become a critical factor in corporate strategic decisions. This study aims to analyze the stock market performance of firms that integrate green logistics practices into their organizational culture. The research focuses on companies from various sectors, including Horoz Lojistik, Türk Traktör, DHL, Tüpraş, Doğan Şirketler Grubu Holding A.Ş., Kütahya Porselen Sanayi A.Ş., Pasifik Eurasia Lojistik Dış Tic. A.Ş., evaluating their environmentally friendly logistics strategies and their impact on stock prices. Green logistics encompasses practices such as energy efficiency, carbon footprint reduction, recycling, and alternative fuel usage. This study examines short- and long-term market reactions following firms' green logistics announcements. Findings indicate that while green logistics positively influences operational efficiency and brand reputation, stock price movements are more significantly shaped by macroeconomic conditions, sectoral trends, and investor perceptions. Notably, global firms like DHL and Tüpraş experience short-term positive market reactions to green logistics disclosures, though sustainability depends on financial performance and broader economic factors. In contrast, the impact on local firms' stock performance remains limited. This study provides valuable insights for researchers and practitioners seeking to understand the financial market implications of green logistics strategies, while suggesting future research on long-term effects and cross-sectoral comparisons.