Abstract:

In the study, the companies that trade in the sustainability index, which began to be calculated in November 2014 in our country, are examining whether there was a change in their activities according to the periods prior to entry into the index scope. For this purpose, 13 manufacturing enterprises included in the BIST Sustainability Index in the period November 2015 - October 2016 were calculated using the Data Coverage Analysis (VZA) method for the period 2013-2016. The variation of activity values during the period was measured using the Malmquist Total Factor Efficiency Index (TFV). According to the data coverage analysis, 7 of 13 have been active in the durability index during the period and in previous periods. Though the four companies have been active in previous periods, they have not been active after being included in the sustainability index. It is also found that 2 were not active in the previous years and in the year they included without being included in the sustainability index. According to the Malmquist TFV index, 7’s efficiency has increased in the period 2015-2016. When the Malmquist TFV index of these 7 enterprises was examined, 6 enterprises were increased in the period 2014-2015 and 3 enterprises were increased in the period 2013-2014. When evaluated in terms of technological effectiveness and technical effectiveness, which are two key elements of the Malmquist TFV index, the reason for the increase in efficiency in the period 2015-2016 was the increase in technological effectiveness. The first three that have increased efficiency in the period 2015-2016 when we evaluate on the business basis; VESTEL Beyez Eşya A.Ş. 43% of the A.S. (%37) and Petkim Petrokimya Holding A.Ş. It is 16% of business. The findings obtained in the study have shown that whether or not are included in the sustainability index does not make a difference in terms of efficiency.