Regardless of the industry in which a company operates, evaluating corporate performance is one of the most critical and vital processes; the most essential and prominent performance evaluation is related to financial performance. Appropriate performance analysis is complex and critical for decision-makers in different financial performance factors; thus, a methodological framework is needed to solve such complex decision problems. Therefore, this research aims to rank the companies included in the sustainability index (excluding banks) in Turkey by considering their financial performance. The criteria weights were determined using the full consistency method (FUCOM) by considering the evaluations of four experts. The firms were ranked using nine multi-criteria decision-making methods. The consensus among the nine rankings was ensured with the Copeland technique. The decision matrix includes financial ratios and the stock market performance of the firms; 100,000 FUCOM weights were created with random evaluations to validate the results. The results indicate that the most crucial criterion is the current ratio by considering expert evaluations. Weight simulation indicates that alternative 16 (alternative 21) is superior (inferior) to the other alternatives, even though the weights are determined with random evaluations. Ranking with expert evaluations is similar to the mean of the weight simulation results. The results demonstrate that the proposed framework can be performed as a basis for financial performance ranking.

This study investigated the effect of sustainability performance on financial performance in developed and developing countries. It also aimed to determine the moderator effect of firm size. The factor for sustainability performance was listed in the BIST Sustainability Index for Turkey and the Dow Jones Sustainability Korea Index for South Korea. ROE, ROA, ROS, and MV/BV were used as financial performance factors. Companies included in the KOSPI 100 index for South Korea and the BIST 100 index for Turkey were examined. Panel regression analysis and Generalized Method of Moments (GMM) analysis were performed to determine the effect of the past value of financial performance factors on their current value. The results show that the impact of sustainability performance on financial performance differs between South Korea and Turkey. In addition, the moderator variable has a significant effect only on ROA (return on assets) for Turkey and on ROE (return on equity) and ROS (return on sales) for South Korea. The results of the GMM analysis show that the past ROA and ROE values affect the current values statistically and positively for South Korea. For Turkey, the past ROE, ROS, and MV/BV (Market Value/Book Value) positively affect the current values. In addition to theoretical implications, implications for policy-makers and practitioners are also presented. Finally, this study provides significant insights for decision-makers and policy-makers to improve sustainability and corporate responsibility in financial and other similar settings.

This study aims to explore the relationship between corporate social responsibility (CSR) and green innovation due to the fragmented and inconsistent findings in previous research. To achieve this, a meta-analysis is conducted on 29 peer-reviewed articles. The aim is to unravel the overall relationship between CSR and green innovation and identify potential factors that may influence this relationship, such as industry, data type, and region. The author’s results concluded that the robust relationship between CSR and green innovation remains consistent and strong, whether in manufacturing or other industries. Moreover, the outcomes indicate that research based on primary data demonstrates a more robust relationship between CSR and green innovation than secondary data studies. The findings also bring attention to regional differences in the relationship between CSR and green innovation, with studies conducted in North America displaying the most notable influence. This study represents the first-ever comprehensive meta-analytic investigation into the relationship between CSR and green innovation.

Purpose: Providing high-quality service for airline companies cannot be overstated, as it directly impacts their survival and competitiveness. Hence, there is an increasing need to measure loyalty in the air transport industry. Loyal customers are highly valued as they are less price-sensitive and require minimal communication efforts. Despite this, there is limited knowledge about the factors that influence a passenger’s level of loyalty towards an airline company. Therefore, understanding the precursors of loyalty is essential. This research investigates the serial mediation effect of consumer brand identification (CBI) and perceived value on the relationship between service quality and loyalty.Design/methodology/approach: In this research, quality is related to loyalty through value and CBI. A conclusive research design was adopted to determine whether value and CBI have a serial mediating effect on the quality-loyalty link. The research framework includes a three-path mediation model.Findings: Based on the analysis of 406 questionnaires, the study concludes that a serial mediation effect of CBI and perceived value on the quality-loyalty relationship exists. The research results indicate that CBI has a greater influence on improving customer loyalty than perceived value.Originality/value: This study contributes to limited research on the serial mediating effect of value and CBI in the quality-loyalty relationship. It also provides empirical evidence on the determinants of loyalty as part of the Turkish aviation industry. This study highlights the significance of CBI as a critical factor for airlines to maintain their competitiveness in the market.