COVID-19 Finansal Çalkantısı Sırasında Pandemi ile İlgili Haberlerin Borsa İstanbul’a Etkisi

Abstract

Aralık 2019’da ortaya çıkan ve ardından dünyaya yayılan COVID-19 salgını sadece ekonomik ve sosyal hayatı değil finansal piyasaları da etkilemiştir Yatırımcılar büyük ölçüde paniklemiş ve kararlarını etkilemiştir. Bu çalışmada, COVID-19 ile ilgili haberlerin Borsa İstanbul üzerindeki etkisi panel kantil regresyon yöntemi kullanılarak analiz edilmiştir. Çalışma dönemi olarak 10 Mart 2020 ile 17 Nisan 2020 tarihleri arası belirlenmiştir. Analiz için RavenPack veri platformu tarafından oluşturulan panik endeksi, medyatiklik endeksi, sahte haber endeksi, ülke duyarlılık endeksi, infodemi endeksi ve medya ilgi endeksi kullanılmıştır. Sonuçlara göre haberlerin etkisi kantiller arasında değişiklik göstermektedir ve Borsa İstanbul’un getirisi ile COVID-19 ile ilgili haberler arasında asimetrik bir bağımlılık vardır. Sonuçlar, COVID-19 ile bağlantılı finansal çalkantıyı hafifletmek için daha verimli iletişim kanallarının kullanılması gerektiğini göstermektedir.

Keywords

• COVID-19
• Borsa Istanbul
• Finansal piyasalar
• sahte haber endeksi
• ülke duyarlılık endeksi
• Panel Kantil Regresyon

The Impact of News about Pandemic on Borsa Istanbul during the COVID-19 Financial Turmoil

Abstract

The COVID-19 pandemic, which emerged in December 2019 and then spread worldwide, has affected not only economic and social life but also the financial markets. It has left investors greatly panicked and affected their decisions. In this study, the effect of COVID-19 related news on Borsa Istanbul is analyzed using the panel quantile regression method. The study period is set between 10 March 2020 and 17 April 2020. The panic index, media hype index, fake news index, country sentiment index, infodemic index, and media coverage index created by the RavenPack data platform are used for the analysis. The impact of news, it was found, varies amongst the quantiles, and there exists an asymmetric dependence between the returns of Borsa Istanbul and COVID-19 related news. More efficient communication channels, the results indicate, should be used to alleviate the financial turmoil caused by COVID-19.

Keywords

• COVID-19
• Borsa Istanbul
• financial markets
• Fake News Index
• Country Sentiment Index
• Panel Quantile Regression

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