The Effects of Natural Disaster on Financial Markets: The Empirical Analysis of 2023 Earthquakes in Türkiye

Yıl 2024, Cilt: 16 Sayı: 30, 186 - 197, 30.05.2024

Burak Büyükoğlu , Aslı Özpolat , Ferda Nakıpoğlu Özsoy

https://doi.org/10.20990/kilisiibfakademik.1439250

Öz

Purpose: The aim of the study is to investigate the effects of the February 6 earthquakes on financial markets
Design/Methodology: BIST100 index, BIST sustainability index and BIST 100 electricity index were analyzed by the cross quantilogram method..
Findings: As a result of the analysis; According to the findings, the highest negative correlation values are seen in the period after the earthquake date. While the correlation relations between the sustainability and electricity indices included in the study and the BIST100 index were negative shortly before the earthquake, they followed a fluctuating course and maintained a negative effect since the earthquake date. In both indices, the dates when the negative effects are most visible coincide with the post-earthquake period. This situation reveals that both indices were negatively affected by the earthquake.
Limitations: The fact that the February 6 earthquakes are still new and their consequences have not yet fully emerged necessitates the study to be conducted with more comprehensive data in the future.
Originality/Value: It is thought that the study will make a significant contribution to the literature in terms of seeing short-term results and determining economic projections accordingly. Due to the devastating earthquakes that have occurred in recent years, the economic effects of natural events have become very important for Turkey. Therefore, it is inevitable to discuss the consequences of these effects and what needs to be done in the light of these consequences.

Anahtar Kelimeler

Earthquake, Natural disaster, Financial Markets, sustainability, CAR

Doğal Afetlerin Finansal Piyasalara Etkileri: 2023 Türkiye Depremlerinin Ampirik Analizi

Öz

Öz
Amaç: Çalışmanın amacı 6 Şubat depremlerinin finansal piyasalar üzerindeki etkilerini araştırmaktır.
Tasarım/Yöntem: BIST100 endeksi, BIST sürdürülebilirlik endeksi ve BIST 100 elektrik endeksi çapraz quantilogram yöntemiyle analiz edilmiştir.
Bulgular: Analizler sonucunda; Elde edilen bulgulara göre en yüksek negatif korelasyon değerleri deprem tarihinden sonraki dönemde görülmektedir. Çalışmaya dahil edilen sürdürülebilirlik ve elektrik endekslerinin BIST100 endeksi ile korelasyon ilişkileri depremden kısa bir süre önce negatif iken deprem tarihinden itibaren dalgalı bir seyir izlemiş ve olumsuz etkiyi korumuştur. Her iki endekste de olumsuz etkilerin en fazla görüldüğü tarihler deprem sonrasına denk gelmektedir. Bu durum her iki endeksin de depremden olumsuz etkilendiğini ortaya koymaktadır.
Sınırlılıklar:. 6 Şubat depremlerinin henüz yeni olması ve sonuçlarının henüz tam olarak ortaya çıkmaması, çalışmanın gelecekte daha kapsamlı verilerle yapılmasını zorunlu kılmaktadır.
Özgünlük/Değer: Çalışmanın kısa vadeli sonuçların görülmesi ve ekonomik projeksiyonların buna göre belirlenmesi açısından literatüre önemli bir katkı sağlayacağı düşünülmektedir. Son yıllarda meydana gelen yıkıcı depremler nedeniyle doğa olaylarının ekonomik etkileri Türkiye için oldukça önemli hale gelmiştir. Dolayısıyla bu etkilerin sonuçlarının ve bu sonuçlar ışığında yapılması gerekenlerin tartışılması kaçınılmazdır.

Anahtar Kelimeler

: Deprem, Doğal afet, Finansal Piyasalar, sürdürülebilirlik, CAR

Kaynakça

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