New Approaches to CSR, Sustainability and Accountability, Volume VI

Table of Contents

1. Frontmatter

2. Introduction

   1. Frontmatter

   2. Chapter 1. Introduction: Sustainability Reporting in Big Four

      Aslı Selvi, Kıymet Tunca Çalıyurt

      Abstract

      Current events are transforming the way we live and do business. CSRD (Corporate Sustainability Reporting Directive) auditing involves an independent, external review of a company’s sustainability report which requires assurance by an external auditor. Auditing the sustainability statement involves an independent, external review of a company’s sustainability report. This process ensures that the information disclosed is accurate, complete, and in accordance with the European Sustainability Reporting Standards (ESRS). The audit offers stakeholders confidence in the reported data, which is crucial for informed decision-making (Ekobiomanager, CSRD auditing: how and why you need to audit?, 2025). Our aim of this study is to examine the content of the “self-published sustainability reports” of the four major audit companies authorized to audit sustainability reporting. The absence of previous research on this subject shows the study’s originality.

3. Numerical Approach to CSR, Sustainability and Accountability

   1. Frontmatter

   2. Chapter 2. Exploring the Association Between Mass Shootings and Police Violence in the United States

      Hilal Özen, Tuğba Altıntaş, Eyüp Çetin

      Abstract

      This study delves into the distinctive attention given to mass shootings and police violence, particularly in the United States. Analyzing cross-sectional 2022 data, we utilize canonical correlation and multiple correspondence analyses to unveil the relationship between these phenomena. A robust canonical correlation of 0.87 (p < 0.05) underscores a significant relationship, with the number of people killed in mass shootings influencing police violence by 82.7%, and vice versa at 85.7%. Multiple correspondence analysis further supports this link, revealing synchronous trends in variables such as the number of people killed, incidents, and gun sales in mass shootings with the number of people killed by police in police violence. Our study is the first in the literature to reveal a significant correlation between mass shootings and police violence in the United States.

      Our findings: The correlation between mass shootings and police violence does not imply causation. The correlation alone is not enough to prove causality. Further research is needed to establish causality.

   3. Chapter 3. Diagnosing the Importance of Functions of Organizational Culture on the Recruitment Policy and the Performance of an Organization: Key Indicators for Sustainable Corporate Management

      Rauf Nişel

      Abstract

      The aim of the research is to determine the importance of issues that deal with the functions of culture in recruitment process and in performance analysis of companies. In our research, issues that deal with functions of organizational culture are considered and are based on Schein’s conceptual approach to organizational culture. Research has been carried out at a company level with separate samples of 213 managers and 841 employees of a leading company in electronic industry. Importance of issues was assessed by principal components analysis. Results showed that the most important issue in our empirical model for both managers and employees was communication. Communication was considered as an important vehicle for conveying explicit cultural values to newcomers and employees with the goal to ensure consistent performance and work standards. Transmission of core values through communication enables sustainable corporate management. Teamwork and performance reward expectancy were other issues which had a different importance from the perspective of managers and employees. Teamwork will facilitate their socialization process by mutual relations with other members of the team. Hence, the newcomers can make adjustments in their job and organization to accommodate their knowledge and personalities. Teamwork is essential for sustainability of corporate management by reducing role ambiguity and role conflict in the organization. Organizations must continuously examine their reward systems to find ways to make it more effective in improving employee performance in order to achieve sustainable corporate management.

   4. Chapter 4. Optimizing EV Charging Locations for Full Coverage: D400 and D550 Highways Case in Türkiye

      Gamze Neşvat, Eyüp Çetin

      Abstract

      The increasing concern about the environmental damage and sustainability of fossil fuels has led to a surge in electric vehicle adoption. However, the “range anxiety” barrier, which concerns that electric vehicles may not have enough range to reach their destinations, may deter potential buyers. This study aims to create a mathematical model that will help place the fewest possible charging stations needed to allow anyone to travel anywhere within the network, charging their vehicles as needed. The developed model will be applied to the D400 and D550 highways in Turkey, aiming to identify the best regions for investment in energy infrastructure and support Turkey’s transition toward an electric-focused future. Addressing this concern is crucial for promoting wider acceptance of electric vehicles.

4. New Approach in Auditing, Finance and Management

   1. Frontmatter

   2. Chapter 5. Risks in the Creation of the Internal Control System of Digital Transformation and Internal Audit Function in Management of the Risks: Risk Awareness Investigation in Turkiye

      Seval Selimoğlu, Mehtap Altunel

      Abstract

      This study aims to conduct awareness research in Turkey on how the internal audit function follows/will follow to manage the risks encountered in the digital transformation process and to present suggestions as a result of this research. In the doctoral thesis, the two-phase Delphi technique was used. In the first phase, semi-structured interviews were conducted with 13 participants: academics, internal auditors working in public, independent auditing institutions, and law-making institutions. This stage constitutes the qualitative part of the study. As a result of the interviews, in the second stage, the survey form consisting of 65 statements was presented to the participants and their opinions were taken. The second and third phases constitute the quantitative part of the study. In this study, semi-structured interviews, which are the first phase of the study, are presented. As a result of the study, it was found that the participants were aware of the effects of digital transformation on internal audit and that the institutions had expectations from the internal audit function within the framework of the consultancy role in the digital transformation process.

   3. Chapter 6. Contractor’s Bidding Decision Modeling, Calculating Bid Price, and Distributing to Maximize Cash Flow

      Cihat Doğan, Eyüp Çetin

      Abstract

      In the construction industry while contractors bid for jobs that are highly profitable and will maximize cash flow in a limited time among many requests for proposals in today's competitive conditions, they experience intuitive and experiential difficulties in making a balanced decision between the benefit of the possibility of winning high-return projects and the cost of bidding. In this study, a decision support model to be used in this decision-making process of a contractor company operating in the electromechanical contracting sector abroad: together with a multi-criteria valuation analysis, one of which determines the total bid price and the other of which distributes this amount to the quantities of work breakdowns in a way that maximizes cash flow. The Analytical Hierarchy Process (AHP) is employed and two linear programming methods are studied.

   4. Chapter 7. Entrepreneurship Talent or Skill?

      Vesna Novaković, Elvis Mujkić, Dragan Milovanović

      Abstract

      At the end of the twentieth century and the beginning of the twenty-first century, entrepreneurship emerged as one of the leading drivers of the economic development of a country. This research clarifies whether entrepreneurship can be learned or if potential entrepreneurs are born with an innate talent for entrepreneurship. Our research addresses the problem we defined with the question: Are entrepreneurial abilities and skills innate in a person or are they acquired over time? Based on this, we formulated the hypothesis: Entrepreneurship is a set of skills and knowledge that can be acquired, which we will confirm or refute through the presentation of the theoretical introduction and research results. The subject of research in this chapter is the attitudes of entrepreneurs regarding whether entrepreneurship can be learned by mastering entrepreneurial skills or whether entrepreneurs believe it is a talent.

5. New Approach in CSR and Sustainability

   1. Frontmatter

   2. Chapter 8. Grant Management with Special Focus on Allocated Funds to Non-Profit Organizations in Bosnia and Herzegovina

      Vesna Novaković

      Abstract

      The subject of this chapter includes the grant management in the Republic of Srpska and Federation Bosnia and Herzegovina, i.e., the method of allocating public financial resources to non-governmental sports organizations, with a special focus on football clubs and the performance of the allocated funds. The audit reports of the Supreme Audit Office of the Republic of Srpska Public Sector and the Federation of Bosnia and Herzegovina will be analyzed. The goal is to determine the extent to which grants awarded to non-governmental, i.e., sports organizations from public budgets in the Republic of Srpska and the Federation of Bosnia and Herzegovina are adequately managed. We define the problem with the question: Have competent institutions in grant management effectively implemented the principles of management according to results?

      To answer the question, we will discuss the program budget concept and results-oriented planning. Following the above, the following hypotheses are tested: if grant planning meets the principles of results-oriented planning and if grants are awarded transparently and based on criteria aimed at achieving results.

   3. Chapter 9. A Conceptual Study on Sustainable Consumption

      Aysun Duruş, Şeniz Özhan

      Abstract

      The aim of this study is to address the concept of sustainable consumption, which has become one of the most important issues of recent times in our world, where the global environmental crisis is increasing, from the consumer perspective. Unsustainable production and consumption are one of the biggest threats to humanity and future generations. Sustainable consumption argues that we should use resources to meet our basic needs and not use more resources than we need. Limited resources despite unlimited consumption make the concept of sustainability important. Sustainability is considered a participatory process that creates a social perspective by ensuring the prudent use of all social, scientific, natural, and human resources in society. In order to manage resources consciously within the framework of sustainability, the concepts of reduce, reuse and recycle, summarized as 3-R, have been mentioned in order for both producers and consumers to act together. Sustainability, which refers to a process, includes both the present generation and future generations to have better living conditions. It is very important to understand the factors that determine consumer behavior in creating sustainable consumption awareness and all economic, social, and environmental stakeholders at national, regional, and international levels should be involved in the change process for sustainability. The Ecological Footprint, which is widely used by scientists, businesses, governments, individuals, and institutions to monitor the ecological situation and to advance resource use and sustainable development, is considered as an indicator of total population and consumption status.

6. New Approach in Banking and Economy

   1. Frontmatter

   2. Chapter 10. Analysis of the Labor Market in Turkey with a Focus on Inclusive Growth

      Emel Yıldız, Nural Yıldız

      Abstract

      Inclusive growth is a type of economic expansion where prosperity is distributed equitably across society, ensuring equal access to opportunities and benefits for all. The inclusivity of growth depends on factors such as the education and employment of the population, their participation in production, and the quality and quantity of value added during the production process. Low labor force participation, high unemployment, and inequalities in income distribution and labor markets during this process reveal the presence of injustice in sharing the benefits of economic growth. Inequalities in the economy not only affect individual gains but also result in losses to societal well-being. Inclusive growth, on the other hand, serves as a fundamental basis for the sustainability of development.

      The aim of this study is to analyze the labor market in Turkey, emphasizing employment and equality as essential elements for the sustainability of societal well-being. Based on the analysis conducted using data from the Turkish Statistical Institute (TÜİK), the study suggests that addressing existing inequalities, starting with disadvantaged groups, and increasing labor force participation and employment rates are crucial for promoting inclusive growth and enhancing societal well-being.

   3. Chapter 11. Project-Planning Mode and Its Relation to Team Characteristics and Project Outcomes

      Said Elbanna, Mustafa Çolak

      Abstract

      Based on self-efficacy, team potency, group dynamics, and normative decision theories, we argue in this study that certain project team characteristics, namely, team management skills and team stability, affect the project-planning mode and that planning mode is related to the speed of project completion and project disturbance. We summarize our arguments under five hypotheses, one of which postulates a mediation effect between the two project outcomes. The analysis of 410 projects from the UAE reveals that adopting a more deliberate mode in planning projects is more likely to succeed, and consequently, it demonstrates the importance of normative decision theory as a theoretical lens in the context of planning projects. Our findings offer some implications for both academia, which we discussed in relation to theoretical lenses and contextual variables employed in this study, and practice, which we discussed in relation to team stability and team building and development.

   4. Chapter 12. Hedging Ratio Between Bitcoin and Altcoins Calculation and Creating an Optimal Portfolio

      Fettah Kaba

      Abstract

      Multivariate GARCH models were employed to examine the yield and volatility spreads among Bitcoin, Ripple, and Litecoin. Among these models, the VAR (1) model was identified as the most suitable within the BEKK-GARCH framework. The analysis revealed a unidirectional yield spread from Ripple to both Bitcoin and Litecoin. Additionally, volatility shocks originating from Ripple and Litecoin were found to affect Bitcoin. Continuing the research, the hedging ratio and optimal portfolio weights for bilateral combinations were established for Bitcoin, Ripple, and Litecoin. To hedge against a $1 long position in Bitcoin, it is necessary to take a short position of $0.56 in Ripple or $0.55 in Litecoin. Conversely, to hedge the risk associated with a $1 long position in Ripple, a short position of $0.70 in Litecoin should be taken. For portfolio construction, a $1 portfolio comprising Bitcoin and Ripple should allocate $0.77 to Bitcoin and $0.23 to Ripple. If the portfolio includes Bitcoin and Litecoin, then $0.94 should be invested in Bitcoin and $0.06 in Litecoin.

7. Backmatter