1. COVID 19 Pandemisinin Küresel İslami ve Geleneksel Endeksler Üzerindeki Etkilerinin Karşılaştırılması.
- Author
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SAKINÇ, İlker and AÇIKALIN, Süleyman
- Subjects
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STOCK prices , *STOCK exchanges , *COVID-19 pandemic , *ABNORMAL returns , *WORLD health - Abstract
COVID-19, which has become an international health threat at the end of January 2020, has created very rapid and deep socio-economic effects on a global scale. COVID-19 has caused huge losses in stock markets all over the globe during March 2020. The aim of this study is to determine the effects of the COVID-19 pandemic on Islamic and traditional stock markets and to compare them. Islamic and traditional index daily returns belonging to nine different regions and countries were analyzed using the event study method. The forecast window of this study is (-6, -200) and the event date was January 30, 2020 since the World Health Organization (WHO) declared COVID-19 as global health emergency on this date. The cumulative abnormal return of all Islamic and traditional indices was found to be negative and statistically significant for the 30-day long-term window following the event day. Islamic and traditional indices have responded similarly to the global health crisis as they lost significant value. However, value lost was higher in traditional indices comparing to the Islamic indices with the only exception of the United Kingdom. The average loss in value for nine traditional indices was 28.65% while the same loss was equal to 35.45% for traditional indices. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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