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Investigation of corporate sustainability performance data and developing an innovation-oriented novel analysis method with multi-criteria decision making approach

Haliloglu, Huseyin
; 
Feyzioglu, Ahmet
; 
Piccinetti, Leonardo
; 
Omoruyi, Trevor U.
; 
Hidimoglu, Muzeyyen Burcu
; 
Gok, Akin Emrecan
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Affiliation
Marmara University; Sustainable Innovation Technology Services Ltd, Limerick; University of Chester; Istanbul University-Cerrahpaşa
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Publication Date
2025-10-03
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Marketing and Professional Development
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Abstract
This study addresses the growing importance of integrating innovation into corporate sustainability strategies by examining the financial and environmental performance of ten firms listed on the Borsa Istanbul Sustainability Index over a five-year period. The main objective is to develop and test a novel, data-driven analytical framework that reduces reliance on subjective expert judgments while providing actionable insights for sustainability-oriented decision-making. Within this framework, the entropy method from the Multi-Criteria Decision Making (MCDM) approach is first applied to calculate the objective weights of sustainability criteria, ensuring that the analysis is grounded in real performance data. Building on these weights, an innovative reverse Decision-Making Trial and Evaluation Laboratory (DEMATEL) model, implemented through a custom artificial neural network-based software, is introduced to estimate direct influence matrices and reveal the causal relationships among criteria. This methodological advance makes it possible to explore how environmental and financial factors interact with R&D expenditures and to simulate their systemic interdependencies. The findings demonstrate that R&D serves as a central driver of both environmental and financial sustainability, highlighting its dual role in fostering corporate innovation and long-term resilience. By positioning R&D as both an enabler and outcome of sustainability dynamics, the proposed framework contributes a novel tool for aligning innovation with strategic sustainability goals, offering broader implications for corporate managers, policymakers, and researchers.
Citation
Haliloglu, H., Feyzioglu, A., Piccinetti, L., Omoruyi, T., Hidimoglu, M. B., & Gok, A. E. (2025). Investigation of corporate sustainability performance data and developing an innovation-oriented novel analysis method with multi-criteria decision making approach. Sustainability, 17(19), article-number 8860. https://doi.org/10.3390/su17198860
Publisher
MDPI
Journal
Sustainability
Research Unit
URI
http://hdl.handle.net/10034/629679
DOI
10.3390/su17198860
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PubMed Central ID
Type
Article
Language
en
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© 2025 by the authors. Licensee MDPI, Basel, Switzerland.
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2071-1050
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Unfunded
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https://www.mdpi.com/2071-1050/17/19/8860
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