WHERE ARE THE TURKISH BUSINESSES POSITIONED IN RESPONSIBLE INVESTMENT APPLICATIONS?

Özlem TUNA

N.Serap VURUR

İbrahim KILIÇ

Classically, three parameters are taken into account, namely return, liquidity and security. However, responsible investments add a fourth parameter - environmental, social and institutional governance (ESRF) - to the concept of classical investment, both monetary and financial. In the light of this information, this study intended to discover whether the investments of Turkish enterprises in the ISO 500 have been carried to a different dimension from the classical investment practices. Accordingly, it was sought to determine the level of the enterprises to minimize environmental impacts in investment decisions, to increase social performance and be sensitive to corporate governance principles. In addition, it has been aimed to identify the driving forces directing the enterprises to responsible investment and the obstacles towards these responsible investment practices. For that purpose, questionnaire technique was conducted with 333 large scale enterprises located in ISO 500. The data obtained from the questionnaires were subjected to statistical analyzes such as frequency, percentage, arithmetic mean, standard deviation, correlation and regression according to the main draft of the study. As a result of the analyzes, it was determined that the enterprises approached the responsible investment practices positively and regarded the cost increase as the most important obstacle in this subject. On the other hand, it was stated that the strengths that make businesses responsible investment are the customer expectations, advertising and media. Additionally, it was determined that there is a strong positive relationship between the level of influence of the powers that make responsible investment and the responsible investment applications. As a result of the regression analysis performed, it was ended that being a policy-maker and driving forces influenced responsible investment practices. It was concluded that taking place in different sectors and duration of activity made no significant effect on responsible investment practices.

Keywords: Responsible investment, sustainability, environment applications, social applications, corporate governance.