A Holistic View for Corporate Sustainability Analysis an Application on BIST Participation Sustainability Index Service Sector Companies

Abstract

Purpose – Sustainability can be defined as sustaining the existence of the present generation without destroying the resources necessary for future generations to continue their existence. Today, not only the financial performance but also the sustainability performance of enterprises has become a factor that cannot be ignored by stakeholders. This study aims to analyze the sustainability performance of BIST participation sustainability index service sector companies from a holistic perspective on a single-period basis. Design/methodology/approach – In this study, Robust Theoretical Fuzzy Evaluation System (R-FES), a fuzzy multi-criteria decision making (MCDM) approach, is used. In addition, the extensions of some elementary methods (Laplace, Wald, and Hurwicz criteria) to multiple decision matrices are used to compare the R-FES results. Findings – Within the scope of the study, BIST participation sustainability index service sector companies are analyzed. The data are taken from the Refinitiv Eikon database and analyzed objectively. The sustainability rankings found with R-FES for the 2019-2021 period are ENJSA, PGSUS, DOAS, THYAO, AKSEN, BIMAS, MPARK and MAVI. Discussion – The companies’ sustainability scores obtained with R-FES are nonnegative, and their sum equals 1. These scores can be used as input for sustainable portfolio selection.