The Effect of Marmara Earthquake on Financial Institutions

Bu çalışmanın amacı, “olay çalışması” yöntemi kullanmak suretiyle, İMKB’de işlem görmekte olan finansal sektör hisselerinin getirileri üzerinde, büyük Marmara depreminin yarattığı etkiyi ölçebilmektir. Sonuçlar, depremin bu hisseler üzerinde kayda değer büyüklükte negatif bir “artık getiri” oluşturduğuna işaret etmektedir. İnceleme kapsamındaki tüm sigorta sektörü hisselerinde yüksek anlamlılık düzeyinde negatif “artık getiriler” gözlenmiştir. Bankacılık sektörü hisselerinde de negatif “artık getiriler” gözlenmiş olmakla birlikte, anlamlılık düzeyleri daha düşük bulunmuştur.

Marmara Depreminin Finansal Kurumların Piyasa Değerleri Üzerindeki Etkisi

This study aims to measure the effect of Marmara earthquake on the stock returns of the firms quoted in ISE and operating in financial sector by the use of conventional econometric methodology of event studies. The results indicate that the occurrence of the earthquake has produced negative and significant abnormal returns. For each of the insurance firms studied, largely significant abnormal returns are observed just after the earthquake. The response of banks is negative but the significance level is less important.

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