Country-level sustainability and cross-border banking flows

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dc.authoridAvci, Sureyya Burcu/0000-0001-8056-8509;
dc.authorwosidAvci, Sureyya Burcu/ABA-4135-2020
dc.authorwosid/ACY-0502-2022
dc.contributor.authorAvci, Sureyya Burcu
dc.contributor.authorSungu-Esen, Gozde
dc.date.accessioned2024-07-18T20:47:18Z
dc.date.available2024-07-18T20:47:18Z
dc.date.issued2022
dc.departmentİstanbul Bilgi Üniversitesien_US
dc.description.abstractPurpose This paper aims to investigate the association between country-level sustainability scores and cross-border bank-to-non-bank flows within countries. Design/methodology/approach The authors analyze cross-border banking flows into the real sector firms of 26 developed countries from 2006 to 2017. The authors use a dynamic panel ordinary least square along with an instrumental variable and a generalized method of moments regressions to test the relationship between country-level sustainability scores and cross-border banking flows. Additionally, the authors apply Fama-MacBeth cross-sectional regression and non-parametric portfolio tests to obtain robust results. Findings The impact of country-level sustainability scores on cross-border banking flows is positive and significant. This finding is consistent with the signaling theory, which states that a country's sustainability score is a signal to attract more international fund flows. Notably, the authors deduce that environmental sustainability is more important than the social and governance pillars. Practical implications The findings indicate that the real sector firms located in countries having higher sustainability scores can receive more international bank flows. Consequently, policymakers should focus more on country-level sustainability investments to improve the financing of resident firms. Social implications Policymakers should focus more on country-level sustainability investments to improve the financing of resident firms. Originality/value To the best of the authors' knowledge, no existing study has investigated the signaling function of country-level sustainability scores in the cross-border banking flow conjecture. By investigating this relationship for real sector firms, this study portrays how the non-banking sector can benefit from such a policy that promotes sustainable practices at the country level.en_US
dc.identifier.doi10.1108/SAMPJ-07-2021-0273
dc.identifier.endpage652en_US
dc.identifier.issn2040-8021
dc.identifier.issn2040-803X
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-85122744334en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage626en_US
dc.identifier.urihttps://doi.org/10.1108/SAMPJ-07-2021-0273
dc.identifier.urihttps://hdl.handle.net/11411/7763
dc.identifier.volume13en_US
dc.identifier.wosWOS:000746552800001en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.ispartofSustainability Accounting Management and Policy Journalen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectCountry-Level Sustainabilityen_US
dc.subjectCross-Country Banking Flowsen_US
dc.subjectDeveloped Countriesen_US
dc.subjectDynamic Panelen_US
dc.subjectGmmen_US
dc.subjectG21en_US
dc.subjectQ56en_US
dc.subjectO57en_US
dc.subjectCorporate Social-Responsibilityen_US
dc.subjectFinancial Performanceen_US
dc.subjectStakeholder Theoryen_US
dc.subjectPanel-Dataen_US
dc.subjectEnvironmental-Managementen_US
dc.subjectCapital Inflowsen_US
dc.subjectForeign Banksen_US
dc.subjectCosten_US
dc.subjectCrediten_US
dc.subjectDebten_US
dc.titleCountry-level sustainability and cross-border banking flows
dc.typeArticle

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