Investigation of the Relationship Between Sustainability, Corporate Social Responsibility and Access to Finance: BIST Case

Abstract

This study aims to investigate the effects of sustainability and corporate social responsibility on access to finance. In line with this purpose, data covering the years 2014-2019 of 242 firms having required data and operating in BIST All Shares Index were used. According to findings, it has been found that being traded in the BIST Sustainability Index, having corporate social responsibility committee and publishing corporate social responsibility report eases access to finance. In addition, having external assurance on corporate social responsibility reports has no significant effects on access to finance. These results have been also supported by additional analyses using alternative proxies for access to finance.