No abstract

It is clear that ISO 9000 Quality Management System and Total Quality Management have an extensive literature. However, it is observed that the literature principally focuses on implementation consequences of them. In this study, ISO 9000 Quality Management System certification process in a faculty of a Turkish public university is taken into consideration. However, the study focuses on not only consequences of taking this certification but also its' triggers and processes. To examine these triggers, processes and consequences, data collection methods of the study were semi-structured interviews and unstructured participative observation. In addition, extensive amount of document was used to make triangulation.

Behavioral finance, which emerged from the debate on traditional finance theories, suggests that investors do not act rationally and that market operations are not completely active. Studies in this field demonstrated that it is possible to predict future asset price movements based on historical movements of these prices. The purpose of the present study is to analyze the contrarian strategy profitability in Istanbul Stock Exchange (Borsa Istanbul), which argues that the past losers are the winners in the future. For this purpose, the performances of the 1,2,3,4 and 5-year term portfolios between January 2001 and December 2015 are examined for the consecutive 1, 2, 3, 4 and 5-year periods. Analysis results demonstrated that the contrarian strategy is a profitable investment strategy in Borsa Istanbul. Zıtlık Stratejisi Karlılığı: Borsa İstanbul Örneği ÖZETGeleneksel finans teorilerinin sorgulanmaya başlaması ile ortaya çıkan davranışsal finans, yatırımcıların rasyonel hareket etmediğini ve piyasaların tam olarak etkin işlemediğini öne sürmektedir. Bu alanda yapılan çalışmalar, varlık fiyatlarının geçmiş hareketlerine bakarak gelecekteki fiyat hareketlerini tahmin etmenin mümkün olduğunu göstermiştir. Bu çalışmanın amacı, geçmişin kaybedenlerinin geleceğin kazananları olduğunu ileri süren zıtlık stratejisi karlılığının Borsa İstanbul'da analiz edilmesidir. Bu amaçla, Ocak 2001-Aralık 2015 tarihleri arasında 1,2,3,4 ve 5 yıllık vadelerle oluşturulan portföylerin, izleyen 1,2,3,4 ve 5 yıllık vadelerdeki performansları incelenmiştir. Analiz sonucunda, zıtlık stratejisinin Borsa İstanbul'da karlı bir yatırım stratejisi olduğu sonucuna ulaşılmıştır.

The objective of this study is to examine whether there is a relationship between the performances and corporate governance levels of companies traded in corporate governance index between 2007 and 2015 in Turkey, which is an emerging market. Different from the previous studies conducted in Turkey, the analysis is conducted with a dynamic method, the System Generalized Moments Method (system GMM). Furthermore, the analysis covered a long sampling period from the date when corporate governance is started to be calculated until today (2007 -2015). Analysis results demonstrated that there is a positive and statistically significant relationship between corporate governance scores and accounting-based ROA and market-based Tobin's Q ratios.

One of the frequently mentioned issues in the literature is that studies analyzing the relationship between corporate sustainability and financial performance do not reach a consensus on the existence and direction of the relationship. This study is aimed to contribute to the literature by analyzing the relationship between corporate sustainability practices and financial performances of 58 non-bank firms included in the Borsa Istanbul (BIST) Sustainability Index between the years 2015-2021. The study employed the System Generalized Method of Moments (system GMM) estimator, which is one of the dynamic panel data models. The results of the analysis can be summarized as follows; (i) there is a positive relationship between corporate sustainability practices and both market-based and accounting-based financial performance indicators, (ii) corporate sustainability positively affects different financial performance indicators at different terms, (iii) sustainability investments affect the market value of businesses more and faster than the return on assets, and (iv) the relationship between corporate sustainability and financial performance is dynamic, and the endogeneity problem should be taken into account in the analysis of the relationship between them.