The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector IndexReturns: An Event Study
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Tarih
2020
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
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.
Açıklama
Anahtar Kelimeler
İktisat, İşletme Finans
Kaynak
Gaziantep Üniversitesi Sosyal Bilimler Dergisi
WoS Q Değeri
Scopus Q Değeri
Cilt
19
Sayı
COVID-19 Özel Sayı
