Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War

Mine Aksoy; Mustafa Kemal Yılmaz; Övgü Kalkan Küçüksolak

doi:10.33203/mfy.1670587

EN TR

Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War

Öz

This study aims to examine the impact of the Hamas-Israel conflict on G20 stock markets and gold prices by employing an event study approach. The results show a continuous decline of the stock markets in the following 10 working days in the aftermath of the attack. The country-wise findings indicate that there are no significant abnormal returns in any stock market on the first day following the conflict. For longer event windows (+3, +5, +10), China, France, Germany, India, Italy, Mexico, South Africa, Türkiye, and the US exhibited negative and significant cumulative abnormal returns (CARs), while Argentina and Russia had positive and significant CARs. The findings also reveal that gold preserves its role as a safe-heaven asset during high tension periods.

Anahtar Kelimeler

Geopolitical conflicts, Gold, Hamas-Israel war, Stock market returns

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Sermaye Piyasaları

Bölüm

Araştırma Makalesi

Yazarlar

Mine Aksoy ^*
0000-0002-4773-1770
Türkiye

Mustafa Kemal Yılmaz
0000-0001-6036-0559
Türkiye

Övgü Kalkan Küçüksolak
0000-0002-3052-9728
Türkiye

Erken Görünüm Tarihi

29 Eylül 2025

Yayımlanma Tarihi

1 Ekim 2025

Gönderilme Tarihi

6 Nisan 2025

Kabul Tarihi

18 Eylül 2025

Yayımlandığı Sayı

Yıl 2025 Sayı: 124

DOI

https://doi.org/10.33203/mfy.1670587

IZ

https://izlik.org/JA23CJ97XN

APA

Aksoy, M., Yılmaz, M. K., & Kalkan Küçüksolak, Ö. (2025). Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War. Maliye ve Finans Yazıları, 124, 21-35. https://doi.org/10.33203/mfy.1670587

AMA

1.Aksoy M, Yılmaz MK, Kalkan Küçüksolak Ö. Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War. Maliye ve Finans Yazıları. 2025;(124):21-35. doi:10.33203/mfy.1670587

Chicago

Aksoy, Mine, Mustafa Kemal Yılmaz, ve Övgü Kalkan Küçüksolak. 2025. “Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War”. Maliye ve Finans Yazıları, sy 124: 21-35. https://doi.org/10.33203/mfy.1670587.

EndNote

Aksoy M, Yılmaz MK, Kalkan Küçüksolak Ö (01 Ekim 2025) Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War. Maliye ve Finans Yazıları 124 21–35.

IEEE

[1]M. Aksoy, M. K. Yılmaz, ve Ö. Kalkan Küçüksolak, “Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War”, Maliye ve Finans Yazıları, sy 124, ss. 21–35, Eki. 2025, doi: 10.33203/mfy.1670587.

ISNAD

Aksoy, Mine - Yılmaz, Mustafa Kemal - Kalkan Küçüksolak, Övgü. “Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War”. Maliye ve Finans Yazıları. 124 (01 Ekim 2025): 21-35. https://doi.org/10.33203/mfy.1670587.

JAMA

1.Aksoy M, Yılmaz MK, Kalkan Küçüksolak Ö. Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War. Maliye ve Finans Yazıları. 2025;:21–35.

MLA

Aksoy, Mine, vd. “Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War”. Maliye ve Finans Yazıları, sy 124, Ekim 2025, ss. 21-35, doi:10.33203/mfy.1670587.

Vancouver

1.Mine Aksoy, Mustafa Kemal Yılmaz, Övgü Kalkan Küçüksolak. Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War. Maliye ve Finans Yazıları. 01 Ekim 2025;(124):21-35. doi:10.33203/mfy.1670587

Maliye ve Finans Yazıları dergisinin kapsamını ekonomi, maliye, finans ve bankacılık alanlarındaki çalışmalar oluşturmaktadır.

Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War

Heterogeneous Market Reactions of the G20 Stock Markets to the Hamas-Israel War

Öz

Anahtar Kelimeler

Hamas-İsrail Savaşına Karşı G20 Borsalarının Heterojen Piyasa Tepkileri

Öz

Anahtar Kelimeler

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Erken Görünüm Tarihi

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Yayımlandığı Sayı

DOI

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