The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study

kandil göker, ilkut elif; EREN, Binali Selman; Karaca, Süleyman Serdar

The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study

İlkut Elif KANDİL GÖKER, (Kırıkkale Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Kırıkkale, Türkiye)

Binali Selman EREN, (Bitlis Eren Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Bitlis / Türkiye)

Süleyman Serdar KARACA (Tokat Gaziosmanpaşa Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümü, Tokat, Türkiye)

Gaziantep Üniversitesi Sosyal Bilimler Dergisi

3 1

Yıl: 2020 Cilt: 19 Sayı: COVID-19 Özel Sayı Sayfa Aralığı: 14 - 41 Metin Dili: İngilizce İndeks Tarihi: 19-11-2021

The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study

Öz:

This study aims to analyze the impact of the COVID-19 outbreak on the Borsa Istanbul sector index returns. COVID-19 first emerged in Wuhan, China in December 2019 and spread to many countries in a short time. With the declaration of the COVID-19 outbreak a global pandemic by the World Health Organization on March 11, 2020, commercial and financial mobility is restricted at both national and international levels. This directly affects both the financial and real sectors. When the effects of previous outbreaks on the economies of the countries are analyzed, it is observed that there are differences on a sector basis. From this point of view this study reveals the impact of the pandemic on sector basis. The data of 26 sectors in BIST are analyzed by the event study. According to the findings, in most of the event windows examined, most of the sectors have negative cummulative abnormal returns (CAAR); in some periods, it is seen that few sectors have positive CAARs. Although the abnormal return rates vary according to different event windows, the highest lost is found in the Sports, Tourism and Transportation sectors.

Anahtar Kelime:

COVID-19 (Koronavirüs)’un Borsa İstanbul Sektör Endeks Getirileri Üzerindeki Etkisi: Bir Olay Çalışması

Öz:

Bu çalışma COVID-19 salgınının Borsa İstanbul sektör endeks getirileri üzerindeki etkisini analiz etmeyiamaçlamaktadır. COVID-19 ilk olarak 2019 yılı aralık ayında Çin’in Wuhan kentinde ortaya çıkmış olup kısasürede pek çok ülkeye yayılmıştır. Dünya Sağlık Örgütü tarafından pandemi ilan edilmesi ile gerek ulusalgerekse uluslararası düzeyde ticari ve mali hareketlilikler kısıtlanmıştır. Bu durum hem finansal hem de reelsektörü doğrudan etkilemiştir. Dünyada daha önce yaşanan salgınların ülke ekonomileri üzerine etkileriincelediğinde sektör bazında farklılaşmalar olduğu görülmüştür. Bu noktadan hareket ederek bu çalışma,salgından etkilenme durumunu sektör bazında ortaya koymaktadır. BIST’te yer alan 26 sektöre ait verilerkullanılarak yapılan olay çalışması bulgularına göre, incelenen olay dönemlerinin çoğunda çoğu sektörünnegatif Birikimli Ortalama Olağanüstü Getiri (CAAR) elde ettiği, bazı dönemlerde ise farklı sektörlerin CAARdeğerlerinin pozitif olduğu görülmüştür. Farklı olay pencerelerine göre oranlar değişmekle birlikte en yüksekkaybın Spor, Turizm ve Taşımacılık sektörlerinde olduğu tespit edilmiştir.

Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	kandil göker i, EREN B, Karaca S (2020). The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. , 14 - 41.
Chicago	kandil göker ilkut elif,EREN Binali Selman,Karaca Süleyman Serdar The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. (2020): 14 - 41.
MLA	kandil göker ilkut elif,EREN Binali Selman,Karaca Süleyman Serdar The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. , 2020, ss.14 - 41.
AMA	kandil göker i,EREN B,Karaca S The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. . 2020; 14 - 41.
Vancouver	kandil göker i,EREN B,Karaca S The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. . 2020; 14 - 41.
IEEE	kandil göker i,EREN B,Karaca S "The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study." , ss.14 - 41, 2020.
ISNAD	kandil göker, ilkut elif vd. "The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study". (2020), 14-41.

APA	kandil göker i, EREN B, Karaca S (2020). The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19(COVID-19 Özel Sayı), 14 - 41.
Chicago	kandil göker ilkut elif,EREN Binali Selman,Karaca Süleyman Serdar The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi 19, no.COVID-19 Özel Sayı (2020): 14 - 41.
MLA	kandil göker ilkut elif,EREN Binali Selman,Karaca Süleyman Serdar The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, vol.19, no.COVID-19 Özel Sayı, 2020, ss.14 - 41.
AMA	kandil göker i,EREN B,Karaca S The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi. 2020; 19(COVID-19 Özel Sayı): 14 - 41.
Vancouver	kandil göker i,EREN B,Karaca S The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi. 2020; 19(COVID-19 Özel Sayı): 14 - 41.
IEEE	kandil göker i,EREN B,Karaca S "The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study." Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19, ss.14 - 41, 2020.
ISNAD	kandil göker, ilkut elif vd. "The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study". Gaziantep Üniversitesi Sosyal Bilimler Dergisi 19/COVID-19 Özel Sayı (2020), 14-41.