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The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index

Year 2024, Volume: 32 Issue: 60, 33 - 50, 28.04.2024
https://doi.org/10.17233/sosyoekonomi.2024.02.02

Abstract

This study examines the influence of carbon emissions of companies traded on the BIST Sustainability Index on the cost of debt for 2017-2021. In other words, the study aims to guide decision-makers towards carbon emissions reduction by showing a significant impact between the cost of debt and carbon emissions. The data were obtained from the Public Disclosure Platform, companies’ financial statements, annual reports, sustainability reports, integrated reports, and the DataStream database and were subjected to statistical analysis. Panel data pooled OLS method was used in the study. The study found a significant impact of total carbon emissions, carbon emission intensity, leverage, and structure variables on the cost of debt. However, it was concluded that the size, return on assets, growth, and cash flow variables did not significantly impact the cost of debt.

Project Number

Yok

References

  • Aliusta, H. & B. Yılmaz (2020), “Karbon Maliyetlerinin Muhasebeleştirilmesi: Çimento Sektörü Uygulaması”, Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 15(1), 267-294.
  • Altınbay, A. & M. Golagan (2016), “Küresel Isınma Sorununa Muhasebecilerin Bakışı: Karbon Muhasebesi”, Itobiad: Journal of the Human & Social Science Researches, 5(7), 2106-2119.
  • Altunışık, R. et al. (2007), Sosyal Bilimlerde Araştırma Yöntemleri SPSS Uygulamalı, 5th ed., Sakarya Yayıncılık, Sakarya.
  • Burritt, R.L. et al. (2011), “Carbon Management Accounting: Explaining Practice in Leading German Companies”, Australian Accounting Review, 21(1), 80-98.
  • Caragnano, A. et al. (2020), “Is it Worth Reducing GHG Emissions? Exploring the Effect on the Cost of Debt Financing”, Journal of Environmental Management, 270, 110860.
  • Chithambo, L. & V. Tauringana (2014), “Company Specific Determinants of Greenhouse Gases Disclosures”, Journal of Applied Accounting Research, 26(1), 323-338.
  • Choi, B.B. et al. (2013), “An Analysis of Australian Company Carbon Emission Disclosures”, Pacific Accounting Review, 25(1), 58-79.
  • Cohen, J. (1988), Statistical Power Analysis for the Behavioral Sciences, 2nd ed., Routledge, New York.
  • Çokmutlu, M.E. & Ş. Ok (2019), “Borsa İstanbul Sürdürülebilirlik Endeksi İşletmelerinin Sera Gazı Beyanlarına Yönelik Güvence Denetimleri: ISAE 3410 Güvence Denetim Standardına İlişkin Bir Araştırma”, IBAD Sosyal Bilimler Dergisi, (5), 164-174.
  • Demircioğlu, E. & D. Ever (2020), “Karbon Maliyetlerinin Belirlenmesine İlişkin Demir Çelik İşletmesinde Uygulama”, İşletme Araştırmaları Dergisi, 12(1), 649-662.
  • Demirtürk, D. (2021), “Sürdürülebilir Ulaşımda Sera Gazı Etkisini Azaltmaya Yönelik Çalışmalar”, Mühendislik Bilimleri ve Tasarım Dergisi, 9(4), 1080-1092.
  • Falk, R.F. & N.B. Miller (1992), A primer for soft modeling, University of Akron Press.
  • Gedik, Y. (2020), “Sosyal, Ekonomik ve Çevresel Boyutlarla Sürdürülebilirlik ve Sürdürülebilir Kalkınma”, International Journal of Economics, Politics, Humanities & Social Sciences, 3(3), 196 -215.
  • Gonzales-Gonzales, J.M. & C.Z. Ramirez (2016), “Voluntary Carbon Disclosure by Spanish Companies: an Empirical Analysis”, International Journal of Climate Change Strategies and Management, 8(1), 57-79.
  • Güleç, Ö.F. & T. Bektaş (2019), “Karbon Muhasebesi ve Karbon Maliyetlerinin İncelenmesi”, in: XIII. IBANESS Congress Series on Economics, Business and Management (1010-1022), Tekirdağ, 5-6 October 2019.
  • Güneysu, Y. & O.Y. Atasel (2022), “Karbon Emisyonları ile Finansal Performans Arasındaki İlişkinin İncelenmesi: BIST 100 Endeksinde Bir Araştırma”, Fırat Üniversitesi Sosyal Bilimler Dergisi, 32(3), 1183-1193.
  • Hrasky, S. (2012), “Carbon Footprints and Legitimation Strategies: Symbolism or Action?”, Accounting, Auditing & Accountability Journal, 25(1), 174-198.
  • Jung, J. et al. (2018), “Carbon Risk, Carbon Risk Awareness and the Cost of Debt Financing”, Journal of Business Ethics, 150(4), 1151-1171.
  • Kardeş-Selimoğlu, S. et al. (2022), “Güvence Denetiminin Unsurları Bağlamında Uluslararası Güvence Denetimi Standardı 3410’a Göre Sera Gazı Beyanlarına İlişkin Güvence Oluşturulması”, Muhasebe ve Finansman Dergisi, (95), 21-34.
  • Kızıltan, B. & D. Umut-Doğan (2021), “Çimento Sektöründe Karbon Ayak İzlerinin Raporlanması Amacıyla Bir Çerçeve Önerisi”, Çağ Üniversitesi Sosyal Bilimler Dergisi, 18(1), 40-58.
  • Kleimeier, S. & M. Viehs (2018), Carbon Disclosure, Emission Levels, and the Cost of Debt. Emission Levels, and the Cost of Debt, 7 January 2018.
  • Kozak, S. (2021), “Will the Reduction of CO2 Emissions Lower the Cost of Debt Financing? The Case of EU Countries”, Energies, 14(24), 8361.
  • Küçüksille, E. (2014), “Basit Doğrusal Regresyon”, in: Ş. Kalaycı (ed.), SPSS Uygulamalı Çok Değişkenli İstatistik Teknikleri (199-201), Asil Yayın Dağıtım Ltd. Şti., Ankara.
  • Kumar, P. & M. Firoz (2018), “Impact of Carbon Emissions on Cost of Debt-Evidence From India”, Managerial Finance, 44(12), 1401-1417.
  • Li, Y.Q. et al. (2014), “Carbon Emissions and the Cost of Capital: Australian Evidence”, Rev. Account Finance, 13(4), 400-420.
  • Luo, L. et al. (2012), “Corporate Incentives to Disclose Carbon Information: Evidence From the CDP Global 500 Report”, Journal of International Financial Management & Accounting, 23(2), 93-120.
  • Maaloul, A. (2018), “The Effect of Greenhouse Gas Emissions on Cost of Debt: Evidence From Canadian Firms”, Corporate Social Responsibility and Environmental Management, 25(6), 1407-1415.
  • Nakip, M. (2003), Pazarlama Araştırmaları Teknikler ve (SPSS Destekli) Uygulamalar, 1st ed., Seçkin Yayıncılık, Ankara.
  • National Academy of Sciences (2011), Sustainability and the U.S. EPA, Committee on Incorporating Sustainability in The U.S. Environmental Protection Agency, <https://clu-in.org/greenremediation/docs/Sustainability_and_the_USEPA.pdf>, 01.01.2023.
  • Özşahin-Koç, F. (2017), “İşletmelerde Risk Raporlaması: BİST İmalat Sektöründe Faaliyet Gösteren İşletmelerde Bir Araştırma”, Doktora Tezi, Sosyal Bilimler Enstitüsü, İşletme Anabilim Dalı, Erciyes Üniversitesi, Kayseri.
  • Palea, V. & F. Drogo (2020), “Carbon Emissions and the Cost of Debt in the Eurozone: The Role of Public Policies, Climate Related Disclosure and Corporate Governance”, Business Strategy and the Environment, 29(8), 2953-2972.
  • Panjwani, A. et al. (2022), Do Scope 3 Carbon Emissions Impact Firms’ Cost of Debt?, <https://ssrn.com/abstract=4205875> or <http://dx.doi.org/10.2139/ssrn.4205875>, 21.11.2022.
  • Pizzutilo, F. et al. (2020), “Dealing With Carbon Risk and the Cost of Debt: Evidence from the European Market”, International Journal of Financial Studies, 8(4), 61.
  • Qian, W. et al. (2018), “Environmental Management Accounting and Its Effects on Carbon Management and Disclosure Quality”, Journal of Cleaner Production, 174, 1608-1619.
  • Ratnatunga, J.T. & K.R. Balachandran (2009), “Carbon Business Accounting: The Impact of Global Warming on the Cost and Management Accounting Profession”, Journal of Accounting, Auditing & Finance, 24(2), 333-355.
  • Robert, K.W. et al. (2005), “What is Sustainable Development? Goals, Indicators, Values, and Practice”, Environment: Science and Policy for Sustainable Development, 47(3), 8-21.
  • Sayilgan, G. & C. Süslü (2011), “Makroekonomik Faktörlerin Hisse Senedi Getirilerine Etkisi: Türkiye ve Gelişmekte Olan Piyasalar Üzerine Bir İnceleme”, BDDK Bankacılık ve Finansal Piyasalar Dergisi, 5(1), 73-96.
  • Simnett, R. & M. Nugent (2007), “Developing an Assurance Standard for Carbon Emissions Disclosures”, Australian Accounting Review, 17(42), 37-47.
  • Solomon, J.F. et al. (2011), “Private Climate Change Reporting: an Emerging Discourse of Risk and Opportunity?”, Accounting, Auditing & Accountability Journal, 24(8), 1119-1148.
  • Stanny, E. & K. Ely (2008), “Corporate Environmental Disclosures About the Effects of Climate Change”, Corporate Social Responsibility and Environmental Management, 15(6), 338-348.
  • Sultanoğlu, B. & Y. Özerhan (2020), “İklim Değişikliği Raporlaması: Türkiye’deki İşletmelerin Gönüllü Karbon Saydamlık Projesi (CDP) Açıklamaları”, Muhasebe Bilim Dünyası Dergisi, 22, 176-194.
  • Sungur, O. (2014), “Korelasyon Analizi”, in: Ş. Kalaycı (ed.), SPSS Uygulamalı Çok Değişkenli İstatistik Teknikleri (115-125), Asil Yayın Dağıtım Ltd. Şti., Ankara.
  • Tsai, W.H. et al. (2012), “Integrating Information About the Cost of Carbon Through Activity-Based Costing”, Journal of Cleaner Production, 36, 102-111.
  • Vullinghs, M. (2021), “Examining the Impact of Carbon Intensity on Cost of Debt: the Moderating Effects of Forward-Looking Indicators”, Master’s Thesis, Rotterdam School of Management (Erasmus University) Rotterdam, The Netherlands.
  • Wang, Y.C. et al. (2021), “Corporate Carbon Dioxide Emissions and the Cost of Debt Financing: Evidence from the Global Tourism Industry”, International Journal of Tourism Research, 23(1), 56-69.
  • Zhang, L.X. et al. (2013), “Carbon Emission Reduction Potential of a Typical Household Biogas System in Rural China”, Journal of Cleaner Production, 47, 415-421.
  • Zhou, Z. et al. (2018), “Carbon Risk, Cost of Debt Financing and the Moderation Effect of Media Attention: Evidence from Chinese Companies Operating in High Carbon Industries”, Business Strategy and the Environment, 27(8), 1131-1144.

Karbon Emisyonlarının Şirketlerin Borçlanma Maliyeti Üzerine Etkisi: BİST Sürdürülebilirlik Endeksinde Bir Araştırma

Year 2024, Volume: 32 Issue: 60, 33 - 50, 28.04.2024
https://doi.org/10.17233/sosyoekonomi.2024.02.02

Abstract

Bu çalışmanın amacı, 2017-2021 yılları için BİST Sürdürülebilirlik Endeksinde işlem gören şirketlerin karbon emisyonlarının borçlanma maliyeti üzerindeki etkisini incelemektir. Bir başka ifade ile borçlanma maliyeti ile karbon emisyonu arasında anlamlı bir etki olduğunu göstermek suretiyle karar alıcıları, karbon emisyonu azaltımına yöneltmektir. Çalışmada veriler Kamuyu Aydınlatma Platformundan (KAP), şirketlerin finansal tablo dipnot ve açıklamaları, faaliyet raporları ile sürdürülebilirlik raporları, entegre raporları ve DataStream veri tabanından elde edilerek istatiksel analize tabi tutulmuştur. Çalışmada panel veri havuzlanmış EKK yöntemi kullanılmıştır. Çalışma sonunda toplam karbon emisyonu, karbon emisyon yoğunluğu, kaldıraç ve yapı değişkenlerinin borçlanma maliyeti üzerine anlamlı bir etkisinin bulunduğu tespit edilmiştir. Ancak büyüklük, aktif kârlılık, büyüme ve nakit akışı değişkenlerinin borçlanma maliyeti üzerinde anlamlı bir etkisinin bulunmadığı sonucuna varılmıştır.

Supporting Institution

Yok

Project Number

Yok

Thanks

Yok

References

  • Aliusta, H. & B. Yılmaz (2020), “Karbon Maliyetlerinin Muhasebeleştirilmesi: Çimento Sektörü Uygulaması”, Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 15(1), 267-294.
  • Altınbay, A. & M. Golagan (2016), “Küresel Isınma Sorununa Muhasebecilerin Bakışı: Karbon Muhasebesi”, Itobiad: Journal of the Human & Social Science Researches, 5(7), 2106-2119.
  • Altunışık, R. et al. (2007), Sosyal Bilimlerde Araştırma Yöntemleri SPSS Uygulamalı, 5th ed., Sakarya Yayıncılık, Sakarya.
  • Burritt, R.L. et al. (2011), “Carbon Management Accounting: Explaining Practice in Leading German Companies”, Australian Accounting Review, 21(1), 80-98.
  • Caragnano, A. et al. (2020), “Is it Worth Reducing GHG Emissions? Exploring the Effect on the Cost of Debt Financing”, Journal of Environmental Management, 270, 110860.
  • Chithambo, L. & V. Tauringana (2014), “Company Specific Determinants of Greenhouse Gases Disclosures”, Journal of Applied Accounting Research, 26(1), 323-338.
  • Choi, B.B. et al. (2013), “An Analysis of Australian Company Carbon Emission Disclosures”, Pacific Accounting Review, 25(1), 58-79.
  • Cohen, J. (1988), Statistical Power Analysis for the Behavioral Sciences, 2nd ed., Routledge, New York.
  • Çokmutlu, M.E. & Ş. Ok (2019), “Borsa İstanbul Sürdürülebilirlik Endeksi İşletmelerinin Sera Gazı Beyanlarına Yönelik Güvence Denetimleri: ISAE 3410 Güvence Denetim Standardına İlişkin Bir Araştırma”, IBAD Sosyal Bilimler Dergisi, (5), 164-174.
  • Demircioğlu, E. & D. Ever (2020), “Karbon Maliyetlerinin Belirlenmesine İlişkin Demir Çelik İşletmesinde Uygulama”, İşletme Araştırmaları Dergisi, 12(1), 649-662.
  • Demirtürk, D. (2021), “Sürdürülebilir Ulaşımda Sera Gazı Etkisini Azaltmaya Yönelik Çalışmalar”, Mühendislik Bilimleri ve Tasarım Dergisi, 9(4), 1080-1092.
  • Falk, R.F. & N.B. Miller (1992), A primer for soft modeling, University of Akron Press.
  • Gedik, Y. (2020), “Sosyal, Ekonomik ve Çevresel Boyutlarla Sürdürülebilirlik ve Sürdürülebilir Kalkınma”, International Journal of Economics, Politics, Humanities & Social Sciences, 3(3), 196 -215.
  • Gonzales-Gonzales, J.M. & C.Z. Ramirez (2016), “Voluntary Carbon Disclosure by Spanish Companies: an Empirical Analysis”, International Journal of Climate Change Strategies and Management, 8(1), 57-79.
  • Güleç, Ö.F. & T. Bektaş (2019), “Karbon Muhasebesi ve Karbon Maliyetlerinin İncelenmesi”, in: XIII. IBANESS Congress Series on Economics, Business and Management (1010-1022), Tekirdağ, 5-6 October 2019.
  • Güneysu, Y. & O.Y. Atasel (2022), “Karbon Emisyonları ile Finansal Performans Arasındaki İlişkinin İncelenmesi: BIST 100 Endeksinde Bir Araştırma”, Fırat Üniversitesi Sosyal Bilimler Dergisi, 32(3), 1183-1193.
  • Hrasky, S. (2012), “Carbon Footprints and Legitimation Strategies: Symbolism or Action?”, Accounting, Auditing & Accountability Journal, 25(1), 174-198.
  • Jung, J. et al. (2018), “Carbon Risk, Carbon Risk Awareness and the Cost of Debt Financing”, Journal of Business Ethics, 150(4), 1151-1171.
  • Kardeş-Selimoğlu, S. et al. (2022), “Güvence Denetiminin Unsurları Bağlamında Uluslararası Güvence Denetimi Standardı 3410’a Göre Sera Gazı Beyanlarına İlişkin Güvence Oluşturulması”, Muhasebe ve Finansman Dergisi, (95), 21-34.
  • Kızıltan, B. & D. Umut-Doğan (2021), “Çimento Sektöründe Karbon Ayak İzlerinin Raporlanması Amacıyla Bir Çerçeve Önerisi”, Çağ Üniversitesi Sosyal Bilimler Dergisi, 18(1), 40-58.
  • Kleimeier, S. & M. Viehs (2018), Carbon Disclosure, Emission Levels, and the Cost of Debt. Emission Levels, and the Cost of Debt, 7 January 2018.
  • Kozak, S. (2021), “Will the Reduction of CO2 Emissions Lower the Cost of Debt Financing? The Case of EU Countries”, Energies, 14(24), 8361.
  • Küçüksille, E. (2014), “Basit Doğrusal Regresyon”, in: Ş. Kalaycı (ed.), SPSS Uygulamalı Çok Değişkenli İstatistik Teknikleri (199-201), Asil Yayın Dağıtım Ltd. Şti., Ankara.
  • Kumar, P. & M. Firoz (2018), “Impact of Carbon Emissions on Cost of Debt-Evidence From India”, Managerial Finance, 44(12), 1401-1417.
  • Li, Y.Q. et al. (2014), “Carbon Emissions and the Cost of Capital: Australian Evidence”, Rev. Account Finance, 13(4), 400-420.
  • Luo, L. et al. (2012), “Corporate Incentives to Disclose Carbon Information: Evidence From the CDP Global 500 Report”, Journal of International Financial Management & Accounting, 23(2), 93-120.
  • Maaloul, A. (2018), “The Effect of Greenhouse Gas Emissions on Cost of Debt: Evidence From Canadian Firms”, Corporate Social Responsibility and Environmental Management, 25(6), 1407-1415.
  • Nakip, M. (2003), Pazarlama Araştırmaları Teknikler ve (SPSS Destekli) Uygulamalar, 1st ed., Seçkin Yayıncılık, Ankara.
  • National Academy of Sciences (2011), Sustainability and the U.S. EPA, Committee on Incorporating Sustainability in The U.S. Environmental Protection Agency, <https://clu-in.org/greenremediation/docs/Sustainability_and_the_USEPA.pdf>, 01.01.2023.
  • Özşahin-Koç, F. (2017), “İşletmelerde Risk Raporlaması: BİST İmalat Sektöründe Faaliyet Gösteren İşletmelerde Bir Araştırma”, Doktora Tezi, Sosyal Bilimler Enstitüsü, İşletme Anabilim Dalı, Erciyes Üniversitesi, Kayseri.
  • Palea, V. & F. Drogo (2020), “Carbon Emissions and the Cost of Debt in the Eurozone: The Role of Public Policies, Climate Related Disclosure and Corporate Governance”, Business Strategy and the Environment, 29(8), 2953-2972.
  • Panjwani, A. et al. (2022), Do Scope 3 Carbon Emissions Impact Firms’ Cost of Debt?, <https://ssrn.com/abstract=4205875> or <http://dx.doi.org/10.2139/ssrn.4205875>, 21.11.2022.
  • Pizzutilo, F. et al. (2020), “Dealing With Carbon Risk and the Cost of Debt: Evidence from the European Market”, International Journal of Financial Studies, 8(4), 61.
  • Qian, W. et al. (2018), “Environmental Management Accounting and Its Effects on Carbon Management and Disclosure Quality”, Journal of Cleaner Production, 174, 1608-1619.
  • Ratnatunga, J.T. & K.R. Balachandran (2009), “Carbon Business Accounting: The Impact of Global Warming on the Cost and Management Accounting Profession”, Journal of Accounting, Auditing & Finance, 24(2), 333-355.
  • Robert, K.W. et al. (2005), “What is Sustainable Development? Goals, Indicators, Values, and Practice”, Environment: Science and Policy for Sustainable Development, 47(3), 8-21.
  • Sayilgan, G. & C. Süslü (2011), “Makroekonomik Faktörlerin Hisse Senedi Getirilerine Etkisi: Türkiye ve Gelişmekte Olan Piyasalar Üzerine Bir İnceleme”, BDDK Bankacılık ve Finansal Piyasalar Dergisi, 5(1), 73-96.
  • Simnett, R. & M. Nugent (2007), “Developing an Assurance Standard for Carbon Emissions Disclosures”, Australian Accounting Review, 17(42), 37-47.
  • Solomon, J.F. et al. (2011), “Private Climate Change Reporting: an Emerging Discourse of Risk and Opportunity?”, Accounting, Auditing & Accountability Journal, 24(8), 1119-1148.
  • Stanny, E. & K. Ely (2008), “Corporate Environmental Disclosures About the Effects of Climate Change”, Corporate Social Responsibility and Environmental Management, 15(6), 338-348.
  • Sultanoğlu, B. & Y. Özerhan (2020), “İklim Değişikliği Raporlaması: Türkiye’deki İşletmelerin Gönüllü Karbon Saydamlık Projesi (CDP) Açıklamaları”, Muhasebe Bilim Dünyası Dergisi, 22, 176-194.
  • Sungur, O. (2014), “Korelasyon Analizi”, in: Ş. Kalaycı (ed.), SPSS Uygulamalı Çok Değişkenli İstatistik Teknikleri (115-125), Asil Yayın Dağıtım Ltd. Şti., Ankara.
  • Tsai, W.H. et al. (2012), “Integrating Information About the Cost of Carbon Through Activity-Based Costing”, Journal of Cleaner Production, 36, 102-111.
  • Vullinghs, M. (2021), “Examining the Impact of Carbon Intensity on Cost of Debt: the Moderating Effects of Forward-Looking Indicators”, Master’s Thesis, Rotterdam School of Management (Erasmus University) Rotterdam, The Netherlands.
  • Wang, Y.C. et al. (2021), “Corporate Carbon Dioxide Emissions and the Cost of Debt Financing: Evidence from the Global Tourism Industry”, International Journal of Tourism Research, 23(1), 56-69.
  • Zhang, L.X. et al. (2013), “Carbon Emission Reduction Potential of a Typical Household Biogas System in Rural China”, Journal of Cleaner Production, 47, 415-421.
  • Zhou, Z. et al. (2018), “Carbon Risk, Cost of Debt Financing and the Moderation Effect of Media Attention: Evidence from Chinese Companies Operating in High Carbon Industries”, Business Strategy and the Environment, 27(8), 1131-1144.
There are 47 citations in total.

Details

Primary Language English
Subjects Sustainable Development, Green Economy
Journal Section Articles
Authors

Filiz Özşahin Koç 0000-0002-0211-869X

Ali Deran 0000-0001-5377-6740

Project Number Yok
Early Pub Date April 28, 2024
Publication Date April 28, 2024
Submission Date July 13, 2023
Published in Issue Year 2024 Volume: 32 Issue: 60

Cite

APA Özşahin Koç, F., & Deran, A. (2024). The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index. Sosyoekonomi, 32(60), 33-50. https://doi.org/10.17233/sosyoekonomi.2024.02.02
AMA Özşahin Koç F, Deran A. The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index. Sosyoekonomi. April 2024;32(60):33-50. doi:10.17233/sosyoekonomi.2024.02.02
Chicago Özşahin Koç, Filiz, and Ali Deran. “The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index”. Sosyoekonomi 32, no. 60 (April 2024): 33-50. https://doi.org/10.17233/sosyoekonomi.2024.02.02.
EndNote Özşahin Koç F, Deran A (April 1, 2024) The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index. Sosyoekonomi 32 60 33–50.
IEEE F. Özşahin Koç and A. Deran, “The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index”, Sosyoekonomi, vol. 32, no. 60, pp. 33–50, 2024, doi: 10.17233/sosyoekonomi.2024.02.02.
ISNAD Özşahin Koç, Filiz - Deran, Ali. “The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index”. Sosyoekonomi 32/60 (April 2024), 33-50. https://doi.org/10.17233/sosyoekonomi.2024.02.02.
JAMA Özşahin Koç F, Deran A. The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index. Sosyoekonomi. 2024;32:33–50.
MLA Özşahin Koç, Filiz and Ali Deran. “The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index”. Sosyoekonomi, vol. 32, no. 60, 2024, pp. 33-50, doi:10.17233/sosyoekonomi.2024.02.02.
Vancouver Özşahin Koç F, Deran A. The Impact of Carbon Emissions on Corporate Cost of Debt (COD): A Research on Borsa İstanbul (BIST) Sustainability Index. Sosyoekonomi. 2024;32(60):33-50.