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http://hdl.handle.net/11129/6428
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Title: | Market Reaction to COVID-19 and the Variants of Concern in BRICS-T Countries |
Authors: | Adaoğlu, Cahit (Supervisor) Shafaei, Danial Eastern Mediterranean University, Faculty of Business and Economics, Dept. of Banking and Finance |
Keywords: | Thesis Tez Banking and Finance Department Market Reactions--COVID-19 Pandemic Shopping--Social Aspects--Consumer behavior Event-study COVID-19 Omicron Delta BRICS-T |
Issue Date: | Aug-2022 |
Publisher: | Eastern Mediterranean University (EMU) - Doğu Akdeniz Üniversitesi (DAÜ) |
Citation: | Shafaei, Danial. (2022). Market Reaction to COVID-19 and the Variants of Concern in BRICS-T Countries. Thesis (M.S.), Eastern Mediterranean University, Institute of Graduate Studies and Research, Dept. of Banking and Finance, Famagusta: North Cyprus. |
Abstract: | This thesis investigates the market reaction effect of the announcements of the initial
surge of COVID-19 and the subsequent variants of concern, namely Delta and
Omicron, on the stock market of Brazil, Russia, India, China, South Africa, and Turkey
(BRICS-T). To this aim, we employ the event study methodology to measure the
abnormal return of the relevant stock market index during the event windows of each
variant’s first case announcement in each country. The results of this investigation
suggest a late market reaction to first case announcement, and in most cases, new
variants do not have statistically significant negative market reactions with the
exception of South Africa for the case of delta variant, Russia and Turkey for the case
of omicron variant. ÖZ:
Bu çalışmada Brezilya, Rusya, Hindistan, Çin, Güney Afrika ve Türkiye (BRICS-T)
borsalarının koronavirüs (COVID-19) salgınının ilk ortaya çıkışına ve ardından ortaya
çıkan Delta ve Omicron gibi yeni varyantlara karşı piyasa tepkileri araştırılmaktadır.
Bu amaçla, her bir ülkede ortaya çıkan yeni varyantların ilk vaka duyurusunun olay
pencereleri sırasında ilgili ülkenin borsa endeksinin anormal getirisini ölçmek için
olay çalışması yöntemi kullanılmıştır. Olay çalışması sonuçlarına göre ilk vaka
duyurusuna piyasa tepkisi geç olmaktadır. Ayrıca, Delta varyantında ortaya çıkan
Güney Afrika piyasa tepksi ile Omicron varyantında Rusya ve Türkiye piyasalarının
tepkileri haricinde yeni varyantların istatistiksel olarak anlamlı ve negatif bir piyasa
tepkisi ile karşılaşılmamıştır. |
Description: | Master of Science in Banking and Finance. Institute of Graduate Studies and Research. Thesis (M.S.) - Eastern Mediterranean University, Faculty of Business and Economics, Dept. of Banking and Finance, 2022. Supervisor: Prof. Dr. Cahit Adaoğlu. |
URI: | http://hdl.handle.net/11129/6428 |
Appears in Collections: | Theses (Master's and Ph.D) – Business and Economics
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