The effect of sustainability report publication on company stock price (BIST100 index companies traded in borsa İstanbul for the period 2013-2022)

The objective of this study is to examine the influence of publishing sustainability reporting on the stock returns of companies included in the BIST100 Index traded on Borsa Istanbul between 2013 and 2022. The primary research question is whether the publication of a sustainability report affects stock returns. The results indicate that the stock returns of firms that publish sustainability reports are, on average, 0.1244 units lower than those of firms that do not publish sustainability reports. The findings indicate that investors in Turkey have not yet accorded significant importance to sustainability reports, nor have the effects of publishing such reports become evident. It is therefore advised that investors do not consider sustainability reporting as an indicator at this stage. This study represents the first of its kind in Turkey and contributes to the global literature by examining a longer time period and a more extensive data set. It also has the potential to provide guidance to firms and policymakers on the impact of sustainability reporting.