Yazar "Shahbaz, Muhammad" seçeneğine göre listele

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    Effects of Environment, Social, and Governance (ESG) Disclosures on ESG Scores: Investigating the Role of Corporate Governance for Publicly Traded Turkish Companies
    (Academic Press Ltd- Elsevier Science Ltd, 2024) Kartal, Mustafa Tevfik; Taskin, Dilvin; Shahbaz, Muhammad; Depren, Serpil Kilic; Pata, Ugur Korkut
    The world has experienced climate-related issues, which increase the importance of ESG disclosures and corporate governance (CG) of companies, which take place at the heart of economies. Therefore, improving ESG disclosures and CG practices becomes significant to combat climate change at the company level. Considering that Turkiye restructured ESG disclosures in 2022, this study investigates the role of CG on the nexus between ESG scores of publicly traded companies (PTC) and ESG reports. So, the study analyzes 102 PTC (full sample), 51 PTC in Borsa Istanbul Corporate Governance Index (in-sample), and the remaining 51 PTC (out-sample) using ESG disclosures of 2022 and applying novel super learner (SL) algorithm. Our results show that (i) SL has a higher prediction performance reaching similar to 94.3%; (ii) the environment (governance) layer has the highest (lowest) total relative importance (contribution) to ESG scores in all samples; (iii) C8, S6, and E5 are the most important ESG principles in the full sample, in-sample, and out-sample, respectively; (iv) the contribution of each ESG principles to the total ESG scores varies by sample; (v) CG plays a smoothing role for the relative importance of each ESG principle, while the relative importance in the out-sample shows much higher volatility. Overall, the study reveals the non-linear contributions of ESG principles on ESG scores and suggests that PTC should prioritize highly important ESG principles, consider the moderating role of CG on the link between ESG scores and ESG disclosures, and use ESG disclosures as a strategic tool to develop ESG scores and disclosures.
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    An empirical note on comparison between resource abundance and resource dependence in resource abundant countries
    (Elsevier Sci Ltd, 2019) Shahbaz, Muhammad; Destek, Mehmet Akif; Okumus, Ilyas; Sinha, Avik
    This study explores the relative effects of natural resource abundance and natural resource dependence on economic growth for the period of 1980-2015 in 35 natural resource abundant countries. For this purpose, the relationship between economic growth, natural resource rents per capita, natural resource rents share of gross domestic product, capital, trade openness and financial development is examined. In doing so, we utilized with second generation panel data methodologies to take into account the cross-sectional dependence among countries. Our results show the existence of cointegration between the variables. Moreover, natural resource abundance promotes economic growth but natural resource dependence prevents economic activity. This study provides guidelines to utilise natural resources as economic tool to maintain economic development for longer period of time.
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    The relationship between economic growth and carbon emissions in G-7 countries: evidence from time-varying parameters with a long history
    (Springer Heidelberg, 2020) Destek, Mehmet Akif; Shahbaz, Muhammad; Okumus, Ilyas; Hammoudeh, Shawkat; Sinha, Avik
    This paper re-investigates the time-varying impacts of economic growth on carbon emissions in the G-7 countries over a long history. In doing so, the historical data spanning the period from the 1800s to 2010 (as constructed) for each country is examined using the time-varying cointegration and bootstrap-rolling window estimation approach. Unlike the previous environmental Kuznets curve (EKC) studies, using this methodology gives us avenue to detect more than one, two, or more turning points for the economic growth-carbon emissions nexus. The empirical findings show that the nexus between economic growth and carbon emission seems over a long history to be M-shaped for Canada and the UK; N-shaped for France; inverted N-shaped for Germany; and inverted M-shaped (W-shaped) for Italy, Japan, and the USA. In addition, the possible validity of EKC hypothesis is examined for both the pre-1973 and post-1973 sub-periods. Based on this investigation, we found that an inverted U-shaped is confirmed only for the pre-1973 period in France, Italy, and the USA. These empirical evidences provide new insights to policy makers to improve environmental quality using economic growth as an economic tool for the long run by observing changes in the environmental impact of this growth from year to year.