Araştırma Makalesi
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Yıl 2022, Cilt: 6 Sayı: 2, 95 - 106, 15.10.2022

Öz

Kaynakça

  • Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., and Alhammadi, S. (2020). Death and contagious infectious diseases: Impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, 27, 1-6.
  • Alber, N. (2020). The Effect of Coronavirus Spread on Stock Markets: The Case of the Worst 6 Countries (April 16, 2020). Available at SSRN: https://ssrn.com/abstract=3578080 or http://dx.doi.org/10.2139/ ssrn.3578080.
  • Albulescu, C. T. (2020). Coronavirus and Oil Price Crash (March 12, 2020). Available at SSRN: https://ssrn. com/abstract=3553452 or http://dx.doi.org/10.2139/ssrn.3553452.
  • Al-Tamimi, H. A., Alwan, A. A., and Abdel Rahman, A. A. (2011). Factors affecting stock prices in the UAE financial markets. Journal of Transnational Management, 16(1), 3-19.
  • Ashraf, B. N. (2020). Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54(101249).
  • Baele, L., Bekaert, G., Ingelbrecth, K., and Wei, M. (2020). Flights to Safety. Review of Financial Studies, 33(2), 689–746. Retrieved from http://hdl.handle.net/1854/LU-8607743.
  • Baker, S. R., Bloom, N., Davis, S. J., Kost, K., Sammon, M., and Viratyosin, T. (2020). The unprecedented stock market reaction to COVID-19. The Review of Asset Pricing Studies, 10(4), 742-758.
  • Barut, A., and Kaygın, C. Y. (2020). Covid-19 Pandemisinin Seçilmiş Borsa Endeksleri Üzerine Etkisinin İncelenmesi. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19, 59-70.
  • Dickey, D. A., and Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American statistical association, 74(366a), 427-431. The Effect of COVID-19 on the Insurance Sector of Emerging Market Countries 105
  • Durbin, J., and Watson, G. S. (1950). Testing for serial correlation in least squares regression: I. Biometrika, 37(3/4), 409-428.
  • Fredericks, B. (2020, March 13). WHO says Europe is new epicenter of coronavirus pandemic. Retrieved April 11, 2021, from New York Post: https://nypost.com/2020/03/13/who-says-europe-is-newepicenter- of-coronavirus-pandemic/.
  • Göker, İ. E., Eren, B. S., and Karaca, S. S. (2020). The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector Index Returns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19, 14-41.
  • Gülhan, Ü. (2020). Covid-19 Pandemisine BIST 100 Reaksiyonu: Ekonometrik Bir Analiz. Electronic Turkish Studies, 15(4), 497-509.
  • Haroon, O., and Rizvi, S. A. (2020). COVID-19: Media coverage and financial markets behavior—A sectoral inquiry. Journal of Behavioral and Experimental Finance, 27, 1-5.
  • Kılıç, Y. (2020). Borsa İstanbul’da COVID-19 (Koronavirüs) Etkisi. JOEEP: Journal of Emerging Economies and Policy, 5(1), 66-77.
  • Liu, H., Manzoor, A., Wang, C., Zhang, L., and Manzoor, Z. (2020). The COVID-19 outbreak and affected countries stock markets response. International Journal of Environmental Research and Public Health, 17(8).
  • MacKinnon, M., Vanderklippe, N., and Robertson, G. (2020, April 25). Flattery and foot dragging: China’s influence over the WHO under scrutiny. Retrieved April 11, 2021, from The Global and Mail: https://www.theglobeandmail.com/world/article-flattery-and-foot-dragging-chinas-influenceover- the-who-under/.
  • Mokhova, N., and Zinecker, M. (2014). Macroeconomic factors and corporate capital structure. Procedia- Social and Behavioral Sciences, 110, 530-540.
  • MSCI. (2021, April 11). Market cap indexes. Retrieved April 11, 2021, from MSCI: https://www.msci.com/ market-cap-weighted-indexes.
  • Nakiboğlu, A., and Işık, S. (2020). Kovid-19 salgınının ekonomi üzerindeki etkileri: Türkiye’de işletme sahipleri üzerinde bir araştırma. Turkish Studies, 15(4), 765-789.
  • Okorie, D. I., and Lin, B. (2021). Stock markets and the COVID-19 fractal contagion effects. Finance Research Letters, 38.
  • Onali, E. (2020). COVID-19 and Stock Market Volatility (May 28, 2020). Available at SSRN: https://ssrn. com/abstract=3571453 or http://dx.doi.org/10.2139/ssrn.3571453.
  • Özlen, S., and Ergun, U. (2012). Macroeconomic factors and stock returns. International Journal of Academic Research in Business and Social Sciences, 2(9), 315.
  • Öztürk, Ö., Şişman, M. Y., Uslu, H., and Çıtak, F. (2020). Effect of COVID-19 outbreak on Turkish stock market: a sectoral-level analysis. Hitit University Journal of Social Sciences Institute, 13(1), 56-68.
  • Sansa, N. A. (2020). Analysis for the Impact of the COVID – 19 to the Petrol Price in China (March 2, 2020). Available at SSRN: https://ssrn.com/abstract=3547413 or http://dx.doi.org/10.2139/ssrn.3547413.
  • Şenol, Z., and Zeren, F. (2020). Coronavirus (COVID-19) and stock markets: The effects of the pandemic on the global economy. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi, 7(4), 1-16.
  • Severgnini, C. (2020, January 31). Coronavirus, primi due casi in Italia “Sono due cinesi in vacanza a Roma” Sono arrivati a Milano il 23 gennaio. Retrieved April 11, 2021, from Corriere Della Sera: https:// www.corriere.it/cronache/20_gennaio_30/coronavirus-italia-corona-9d6dc436-4343-11ea-bdc8-faf1f56f19b7.shtml.
  • Sharif, A., Aloui, C., and Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach. International Review of Financial Analysis, 70(10).
  • Sharif, T., Purohit, H., and Pillai, R. (2015). Analysis of factors affecting share prices: The case of Bahrain stock exchange. International Journal of Economics and Finance, 7(3), 207-216.
  • Tayar, T., Gümüştekin, E., Dayan, K., and Mandi, E. (2020). Covid-19 Krizinin Türkiye’deki Sektörler Üzerinde Etkileri: Borsa İstanbul Sektör Endeksleri Araştırması. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Salgın Hastalıklar Özel Sayısı, 293-320. The Associated Press. (2020, June 2). China delayed releasing coronavirus info, frustrating
  • WHO. Retrieved April 11, 2021, from The Associated Press: https://apnews.com/ article/3c061.794.970661042b18d5aeaaed9fae.
  • Wagner, A. F. (2020). What the stock market tells us about the post-COVID-19 world. Nature Human Behaviour, 4(5), 440-440.
  • World Health Organization. (2021, April 11). Coronavirus disease (COVID-19). Retrieved April 11, 2021, from WHO: https://www.who.int/emergencies/diseases/novel-coronavirus-2019.
  • Yan, C. (2020). COVID-19 Outbreak and Stock Prices: Evidence from China (April 13, 2020). Available at SSRN: https://ssrn.com/abstract=3574374 or http://dx.doi.org/10.2139/ssrn.3574374.
  • Zach, T. (2003). Political events and the stock market: Evidence from Israel. International Journal of Professional Business Review, 8(3), 243-266.
  • Zaremba, A., Kizys, R., Aharon, D. Y., and Demir, E. (2020). Infected markets: Novel coronavirus, government interventions, and stock return volatility around the globe. Finance Research Letters, 35, 101597, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2020.101597.
  • Zeren, F., and Hızarcı, A. (2020). The impact of COVID-19 coronavirus on stock markets: evidence from selected countries. Muhasebe ve Finans İncelemeleri Dergisi, 3(1), 78-84.
  • Zhang, D., Hu, M., and Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 36, 101528, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2020.101528.

THE EFFECT OF COVID-19 ON THE INSURANCE SECTOR OF EMERGING MARKET COUNTRIES

Yıl 2022, Cilt: 6 Sayı: 2, 95 - 106, 15.10.2022

Öz

The fear and uncertainty that arose during the COVID-19 pandemic caused an increase in volatility in financial and commodity markets. This study is conducted to show the impact of the number of COVID-19 cases on the insurance sector of developing countries. In the period between the first case dates and March 23, 2021, the relationship between the increase in the number of cases and the increase in the insurance sector index or company return is examined in the selected countries. According to the results, a negative relationship is revealed in all countries except Greece and Hungary, which is not significant.

Kaynakça

  • Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., and Alhammadi, S. (2020). Death and contagious infectious diseases: Impact of the COVID-19 virus on stock market returns. Journal of Behavioral and Experimental Finance, 27, 1-6.
  • Alber, N. (2020). The Effect of Coronavirus Spread on Stock Markets: The Case of the Worst 6 Countries (April 16, 2020). Available at SSRN: https://ssrn.com/abstract=3578080 or http://dx.doi.org/10.2139/ ssrn.3578080.
  • Albulescu, C. T. (2020). Coronavirus and Oil Price Crash (March 12, 2020). Available at SSRN: https://ssrn. com/abstract=3553452 or http://dx.doi.org/10.2139/ssrn.3553452.
  • Al-Tamimi, H. A., Alwan, A. A., and Abdel Rahman, A. A. (2011). Factors affecting stock prices in the UAE financial markets. Journal of Transnational Management, 16(1), 3-19.
  • Ashraf, B. N. (2020). Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54(101249).
  • Baele, L., Bekaert, G., Ingelbrecth, K., and Wei, M. (2020). Flights to Safety. Review of Financial Studies, 33(2), 689–746. Retrieved from http://hdl.handle.net/1854/LU-8607743.
  • Baker, S. R., Bloom, N., Davis, S. J., Kost, K., Sammon, M., and Viratyosin, T. (2020). The unprecedented stock market reaction to COVID-19. The Review of Asset Pricing Studies, 10(4), 742-758.
  • Barut, A., and Kaygın, C. Y. (2020). Covid-19 Pandemisinin Seçilmiş Borsa Endeksleri Üzerine Etkisinin İncelenmesi. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19, 59-70.
  • Dickey, D. A., and Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American statistical association, 74(366a), 427-431. The Effect of COVID-19 on the Insurance Sector of Emerging Market Countries 105
  • Durbin, J., and Watson, G. S. (1950). Testing for serial correlation in least squares regression: I. Biometrika, 37(3/4), 409-428.
  • Fredericks, B. (2020, March 13). WHO says Europe is new epicenter of coronavirus pandemic. Retrieved April 11, 2021, from New York Post: https://nypost.com/2020/03/13/who-says-europe-is-newepicenter- of-coronavirus-pandemic/.
  • Göker, İ. E., Eren, B. S., and Karaca, S. S. (2020). The Impact of the COVID-19 (Coronavirus) on The Borsa Istanbul Sector Index Returns: An Event Study. Gaziantep Üniversitesi Sosyal Bilimler Dergisi, 19, 14-41.
  • Gülhan, Ü. (2020). Covid-19 Pandemisine BIST 100 Reaksiyonu: Ekonometrik Bir Analiz. Electronic Turkish Studies, 15(4), 497-509.
  • Haroon, O., and Rizvi, S. A. (2020). COVID-19: Media coverage and financial markets behavior—A sectoral inquiry. Journal of Behavioral and Experimental Finance, 27, 1-5.
  • Kılıç, Y. (2020). Borsa İstanbul’da COVID-19 (Koronavirüs) Etkisi. JOEEP: Journal of Emerging Economies and Policy, 5(1), 66-77.
  • Liu, H., Manzoor, A., Wang, C., Zhang, L., and Manzoor, Z. (2020). The COVID-19 outbreak and affected countries stock markets response. International Journal of Environmental Research and Public Health, 17(8).
  • MacKinnon, M., Vanderklippe, N., and Robertson, G. (2020, April 25). Flattery and foot dragging: China’s influence over the WHO under scrutiny. Retrieved April 11, 2021, from The Global and Mail: https://www.theglobeandmail.com/world/article-flattery-and-foot-dragging-chinas-influenceover- the-who-under/.
  • Mokhova, N., and Zinecker, M. (2014). Macroeconomic factors and corporate capital structure. Procedia- Social and Behavioral Sciences, 110, 530-540.
  • MSCI. (2021, April 11). Market cap indexes. Retrieved April 11, 2021, from MSCI: https://www.msci.com/ market-cap-weighted-indexes.
  • Nakiboğlu, A., and Işık, S. (2020). Kovid-19 salgınının ekonomi üzerindeki etkileri: Türkiye’de işletme sahipleri üzerinde bir araştırma. Turkish Studies, 15(4), 765-789.
  • Okorie, D. I., and Lin, B. (2021). Stock markets and the COVID-19 fractal contagion effects. Finance Research Letters, 38.
  • Onali, E. (2020). COVID-19 and Stock Market Volatility (May 28, 2020). Available at SSRN: https://ssrn. com/abstract=3571453 or http://dx.doi.org/10.2139/ssrn.3571453.
  • Özlen, S., and Ergun, U. (2012). Macroeconomic factors and stock returns. International Journal of Academic Research in Business and Social Sciences, 2(9), 315.
  • Öztürk, Ö., Şişman, M. Y., Uslu, H., and Çıtak, F. (2020). Effect of COVID-19 outbreak on Turkish stock market: a sectoral-level analysis. Hitit University Journal of Social Sciences Institute, 13(1), 56-68.
  • Sansa, N. A. (2020). Analysis for the Impact of the COVID – 19 to the Petrol Price in China (March 2, 2020). Available at SSRN: https://ssrn.com/abstract=3547413 or http://dx.doi.org/10.2139/ssrn.3547413.
  • Şenol, Z., and Zeren, F. (2020). Coronavirus (COVID-19) and stock markets: The effects of the pandemic on the global economy. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi, 7(4), 1-16.
  • Severgnini, C. (2020, January 31). Coronavirus, primi due casi in Italia “Sono due cinesi in vacanza a Roma” Sono arrivati a Milano il 23 gennaio. Retrieved April 11, 2021, from Corriere Della Sera: https:// www.corriere.it/cronache/20_gennaio_30/coronavirus-italia-corona-9d6dc436-4343-11ea-bdc8-faf1f56f19b7.shtml.
  • Sharif, A., Aloui, C., and Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach. International Review of Financial Analysis, 70(10).
  • Sharif, T., Purohit, H., and Pillai, R. (2015). Analysis of factors affecting share prices: The case of Bahrain stock exchange. International Journal of Economics and Finance, 7(3), 207-216.
  • Tayar, T., Gümüştekin, E., Dayan, K., and Mandi, E. (2020). Covid-19 Krizinin Türkiye’deki Sektörler Üzerinde Etkileri: Borsa İstanbul Sektör Endeksleri Araştırması. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, Salgın Hastalıklar Özel Sayısı, 293-320. The Associated Press. (2020, June 2). China delayed releasing coronavirus info, frustrating
  • WHO. Retrieved April 11, 2021, from The Associated Press: https://apnews.com/ article/3c061.794.970661042b18d5aeaaed9fae.
  • Wagner, A. F. (2020). What the stock market tells us about the post-COVID-19 world. Nature Human Behaviour, 4(5), 440-440.
  • World Health Organization. (2021, April 11). Coronavirus disease (COVID-19). Retrieved April 11, 2021, from WHO: https://www.who.int/emergencies/diseases/novel-coronavirus-2019.
  • Yan, C. (2020). COVID-19 Outbreak and Stock Prices: Evidence from China (April 13, 2020). Available at SSRN: https://ssrn.com/abstract=3574374 or http://dx.doi.org/10.2139/ssrn.3574374.
  • Zach, T. (2003). Political events and the stock market: Evidence from Israel. International Journal of Professional Business Review, 8(3), 243-266.
  • Zaremba, A., Kizys, R., Aharon, D. Y., and Demir, E. (2020). Infected markets: Novel coronavirus, government interventions, and stock return volatility around the globe. Finance Research Letters, 35, 101597, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2020.101597.
  • Zeren, F., and Hızarcı, A. (2020). The impact of COVID-19 coronavirus on stock markets: evidence from selected countries. Muhasebe ve Finans İncelemeleri Dergisi, 3(1), 78-84.
  • Zhang, D., Hu, M., and Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 36, 101528, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2020.101528.
Toplam 38 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Ekonomi
Bölüm Makaleler
Yazarlar

Burak Alan 0000-0002-3878-8273

Aslı Aybars Bu kişi benim 0000-0002-7899-2367

Yayımlanma Tarihi 15 Ekim 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 6 Sayı: 2

Kaynak Göster

APA Alan, B., & Aybars, A. (2022). THE EFFECT OF COVID-19 ON THE INSURANCE SECTOR OF EMERGING MARKET COUNTRIES. Journal of Research in Economics, 6(2), 95-106.