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Journals / Muhasebe Bilim Dünyası Dergisi / 2026 / Cilt: 24 Sayı: COVID-19 Özel Sayısı Özel Sayı

THE EFFECT OF PARTIAL AND FULL LOCKDOWN DECISIONS ON STOCK RETURNS IN THE COVID-19 PROCESS: A SECTOR-BASED ANALYSIS IN BORSA ISTANBUL

COVID-19 SÜRECİNDE KISMİ VE TAM KAPANMA KARARLARININ PAY SENEDİ GETİRİLERİNE ETKİSİ: BORSA İSTANBUL’DA SEKTÖREL BAZLI BİR ANALİZ

Mehmet Tursun(Adıyaman Üniversitesi)0000-0001-9731-2198
Pages
211–229
Publication Date
2022-06-30
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

In addition, it was concluded that the decision of full lockdown had a positive effect on the markets, and it was seen that the market was not efficient in the semi-strong form.

📌 3 Key Takeaways

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Objective & Hypothesis:In this study, the sectoral effects of partial lockdown dated 13.04.2021 and full lockdown dated 26.04.2021, which were taken in Turkey during the COVID-19 epidemic process, on the BIST market were tried to be determined.
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Key Findings & Data:In the analysis, it was seen that the partial lockdown decisions taken during the COVID-19 pandemic process had a negative effect on the selected markets within the BIST.
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Conclusion & Impact:In addition, it was concluded that the decision of full lockdown had a positive effect on the markets, and it was seen that the market was not efficient in the semi-strong form.
🔬Design:Araştırma Makalesi
📍Scope:2021 Verileri
⚙️Variables:Covid-19 · Sektörel Endeksler · Olay Çalışması

Abstract

In this study, the sectoral effects of partial lockdown dated 13.04.2021 and full lockdown dated 26.04.2021, which were taken in Turkey during the COVID-19 epidemic process, on the BIST market were tried to be determined. In the study, in which the Event Study method was used, the efficiency of the stock market and whether sector-based abnormal returns could be obtained from this market was measured. In the analysis, it was seen that the partial lockdown decisions taken during the COVID-19 pandemic process had a negative effect on the selected markets within the BIST. In addition, it was concluded that the decision of full lockdown had a positive effect on the markets, and it was seen that the market was not efficient in the semi-strong form.

Özet

Bu çalışmada, COVİD-19 salgın sürecinde Türkiye’de alınan 13.04.2021 tarihli kısmi kapanma ve 26.04.2021 tarihli tam kapanma kararlarının BİST piyasasındaki sektörel etkileri belirlenmeye çalışılmıştır. Olay Çalışması (Event Study) yönteminin kullanıldığı çalışmada, pay senedi piyasasının etkinliği ve bu piyasadan sektörel bazlı anormal getirilerin elde edilip edilemeyeceği ölçülmüştür. Yapılan analizde, COVİD-19 pandemisi sürecinde alınan kısmi kapanma kararlarının BİST bünyesindeki seçilmiş piyasalar üzerinde negatif yönde etkisinin olduğu görülmüştür. Ayrıca, tam kapanma kararının ise piyasalar üzerinde pozitif yönde etkisinin olduğu sonucuna ulaşılmış ve piyasanın yarı güçlü formda etkin olmadığı görülmüştür.

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Cite This Article

Tursun, M. (2022). THE EFFECT OF PARTIAL AND FULL LOCKDOWN DECISIONS ON STOCK RETURNS IN THE COVID-19 PROCESS: A SECTOR-BASED ANALYSIS IN BORSA ISTANBUL. Muhasebe Bilim Dünyası Dergisi, Cilt: 24 Sayı: COVID-19 Özel Sayısı Özel Sayı, 211–229. https://doi.org/10.31460/mbdd.1060929

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