Maturity in sustainability: The impact of institutionalization level

Abstract

This study examines the impact of institutionalization maturity on sustainability maturity among publicly traded companies in Türkiye. Institutionalization refers to the formalization and standardization of organizational practices, ensuring stability and efficiency. Sustainability maturity, on the other hand, reflects an organization's ability to integrate environmental, social and economic dimensions into its operations. Using data obtained from the Public Disclosure Platform (KAP), this research applies correlation and regression analyses to assess the relationship between institutionalization maturity and sustainability maturity. The findings reveal a significant positive relationship, with institutionalization maturity explaining 31.2% of the variation in sustainability maturity. Additionally, institutionalization maturity is consistently high across firms, whereas sustainability maturity exhibits greater variability, indicating the influence of external regulatory and industry-specific factors. The results suggest that firms aiming to enhance sustainability performance should prioritize strengthening their institutional structures. Moreover, policymakers can develop more cohesive regulatory frameworks to ensure more consistent sustainability practices across industries.