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COVID 19 ilk olarak Çin Wuhan eyaletinde Aralık 2019 ayında tespit edildi, Türkiye’de ise 11 Mart 2020 tarihinde ilk vaka duyuruldu. COVID 19 pandemi olarak nitelendirilmesinden sonra sadece bir sağlık sorunu olmasının ötesinde birçok sosyal, siyasal ve ekonomik etkileri oldu. Özellikle karantina uygulamaları çerçevesinde uluslararası sınırlandırmalar ile birlikte tedarik zincirlerindeki kesintiler ekonomik faaliyetlerde daralmaya yol açtı. Bu süreçte bazı sektörlerde yatırımlar azaldı ve özellikle gıda sektöründe talep artışı görüldü. Pandemiyle birlikte menkul kıymet borsalarında satışlar hisse senedi fiyatlarını düşürdü. Daha sonraki süreçte ise borsalarda toparlanma hareketi gözlendi. Bu çalışmada BİST İmalat Sektörü hisse senetleri üzerinde COVID 19 pandemisinin etkisi incelenmiştir. Hisse senedi getiri sonuçlarına göre, BİST 100’de işlem gören İmalat sektörüne ait hisse senetlerinin gün bazında ortalama olarak negatif getiri ürettikleri görülmektedir. Söz konusu getiri duyuru tarihinden bir gün sonrasında daha belirgindir (Dt+1: -0,07). Bu tarihte pandemi etkisiyle Dünya borsalarında görülen düşüşe paralel BİST’te de düşüş gerçekleşmiştir. Araştırmada pandeminin yarattığı belirsizlik ortamında özellikle Duyuru tarihi etrafında fiyat oynaklığının yüksek olduğu gözlemlenmiştir. Araştırma verileri süreç bazında incelendiğinde ise duyuru tarihinden 130 gün önceki süreçte (Dt-130) ortalama olarak %0,12, duyuru tarihinden sonraki 130 günlük süreçte (Dt+130) ortalama olarak %0,46 pozitif getiri ürettiği görülmektedir. Bu verilere göre BİST 100 de işlem gören imalat sektörü hisse senetlerinin pandemiden önceki süreçten daha fazla getiri ürettikleri görülmektedir. Bu veriler BİST bazında sektörün pandeminin olumsuz etkilerini giderdiği ve toparlandığı şeklinde yorumlanmaktadır.
COVID 19 was first identified in December 2019 in the Chinese state of Wuhan, and in Turkey the first case was announced on March 11, 2020. After COVID 19 was called a pandemic, it had many social, political and economic effects beyond being just a health problem. In particular, in the framework of quarantine practices, the cuts in supply chains, along with international restrictions, led to economic activity reduction. During this process, investment in some sectors decreased and demand increased, especially in the food sector. With the pandemic, sales on the stock exchanges lowered the stock prices. In the subsequent process, a recovery movement was observed in the stock markets. This study has studied the impact of COVID 19 pandemic on BIST Manufacturing Sector shares. According to the results of the stock return, the stock stocks of the manufacturing sector that are traded in BIST 100 appear to produce a negative return on average on a day basis. This return is clearer one day after the announcement date (Dt+1: -0,07). In this date, the impact of the pandemic saw a decline in the world’s stock exchanges in parallel with the BIST. The research has observed that in the uncertainty environment created by the pandemic, especially around the announcement date, the price gap is high. When the research data is examined on the basis of the process, it is estimated that in the 130 days before the date of announcement (Dt-130) the average 0.12% and in the 130 days after the date of announcement (Dt+130) the average 0.46% positive return was produced. According to these data, the manufacturing sector shares that are traded in BIST 100 have produced more revenue than the process before the pandemic. These data are interpreted in the form that the negative effects of the industry pandemic are removed and recovered.
COVID19 first time in December 2019 in Wuhan province in China, first in Turkey on March 11, 2020 is beyond many social, political and economic impact was. Especially international restrictions within the framework of quarantine practices and interruptions in supply chains led to a contraction in economic activities. During this period, investments in some sectors decreased and demand cases were announced, especially in the food sector. After COVID 19 was described as a pandemic, there was an increase in only one health problem. With the pandemic, sales in stock markets lowered stock prices. In the following period, a recovery movement was observed in the stock markets. In this study, the effect of Covid 19 pandemic on BIST Manufacturing Sector stocks was examined. According to the stock return results, it is seen that the stocks of the manufacturing sector, which are traded in BIST 100, produce negative returns on average on a daily basis. The said return is more noticeable one day after the announcement date (Dt + 1: -0.07). On this date, there was a decrease in BIST in parallel with the decrease seen in the world stock markets due to the pandemic effect. In the research, it has been observed that in the uncertainty environment created by the pandemic, price volatility is high, especially around the date of the Announcement. When the research data are analyzed on a process basis, it is seen that it produced an average of 0.12% in the period 130 days before the announcement date (Dt-130), and an average of 0.46% positive return in the 130 days after the announcement date (Dt + 130). According to these data, it is seen that the manufacturing sector stocks traded in the BIST 100 generate higher returns than the period before the pandemic. These data are interpreted as the sector eliminated the negative effects of the pandemic and recovered on the basis of BIST.
Field : Eğitim Bilimleri; Filoloji; Güzel Sanatlar; Hukuk; İlahiyat; Sosyal, Beşeri ve İdari Bilimler; Spor Bilimleri
Journal Type : Uluslararası
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