COVID-19 SALGINININ TURİZM, ULAŞTIRMA VE YİYECEK&amp;İÇECEK SEKTÖRLERİNE ETKİSİ: RALS ENGLE VE GRANGER EŞBÜTÜNLEŞME TESTİ

Güngör, Selim; Aydin, Nercü; İnak, Aydın

doi:10.48145/gopsbad.882760

Cited by 3 publications

(1 citation statement)

References 25 publications

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“…Although there are many theoretical or case studies (Akca, 2020;Kalkın, 2021;Keskin & Ercoşkun Yalçıner, 2021;Şen & Bütün, 2021) investigating the effects of COVID-19 on the aviation industry in the national literature, there are few empirical studies. The existence of a long-term relationship between the number of deaths caused by COVID-19 and BIST Tourism and BIST Transportation Indices was revealed by ARDL Boundary Test (Gümüş & Hacievliyagil, 2020) and RALS Engle and Granger Cointegration Test (Güngör et al, 2021). Deveci et al, (2022), revealed in their studies that COVID-19 affected the Turkish civil aviation industry to a large extent and it was reshaped with fewer carriers during the recovery phase.…”

Section: Literature Reviewmentioning

confidence: 99%

The Nexus Between COVID-19 Government Responses and Aviation Stock Prices in Turkey: OxCGRT Stringency Index-Based Analysis

ÇETİN>

2022

Journal of Aviation

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Air transportation is the significant mode of transmission, enabling the worldwide spread of infectious diseases through the mobility of infected persons. Therefore, governments applied the most comprehensive restrictions and preventions in civil aviation during COVID-19. The industry is one of the most economically impacted due to travel, and flight restrictions. This paper aims to investigate the long- and short-term nexuses between government responses to COVID-19 and the aviation stock prices traded in Borsa Istanbul. The OxCGRT stringency Turkey index is used to measure the Turkish government responses and policies to COVID-19. In the study, the daily data of Turkish Airlines, Pegasus Airlines, Do&Co Catering, TAV Airport Holding, Celebi Ground Handling stock prices, and the OxCGRT stringency Turkey index for the 24.01.2020-11.11.2021 period were used, and Granger causality and Engle-Granger cointegration tests were applied to reveal the nexuses. In conclusion, there is a cointegration nexus and one-way causality from the index to all Turkish aviation stock prices, except the Celebi Ground Handling stock prices. The contribution of this study is that it is probably the first one in Turkey to reveal the nexus between the government's policy and responses to COVID-19 and aviation stock prices.

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Section: Literature Reviewmentioning

confidence: 99%

The Nexus Between COVID-19 Government Responses and Aviation Stock Prices in Turkey: OxCGRT Stringency Index-Based Analysis

ÇETİN>

2022

Journal of Aviation

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TÜRKİYE VE BRICS BORSALARI ARASINDAKİ UZUN ve KISA DÖNEMLİ İLİŞKİLERİN PANDEMİ DÖNEMİ VE ÖNCESİNDE KARŞILAŞTIRMALI ANALİZİ

Kaya

2022

Yönetim Ve Ekonomi Araştırmaları Dergisi

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Bu çalışma Covid-19 pandemisi öncesinde ve pandemi döneminde BİST-100, BİST-50 ve BİST-30 endeksleri arasındaki uzun ve kısa dönemli ilişkilerin belirlenmesini amaçlamaktadır. Çalışmada endeksler arasındaki uzun döneme dair ilişkinin analizi için Johansen Eşbütünleşme Testi, kısa vadeli ilişkilerin belirlenmesi için ise Vektör Hata Düzeltme Modeli (VECM) kullanılmıştır. Ayrıca Granger Nedensellik Testi ile değişkenler arası nedensellik ilişkileri analiz edilmiştir. Eşbütünleşme testi bulgularına göre; hem pandemi öncesinde hem de pandemi döneminde BİST-100, BİST-50 ve BİST-30 arasında eşbütünleşme ilişkisi belirlenmiştir. Vektör Hata Düzeltme Modeli bulgularına göre; pandemi öncesi dönemde analize dahil edilen endekslerden birinde ortaya çıkan ortalamadan sapmaların diğerleri tarafından düzeltilemediği sonucuna ulaşılırken, pandemi döneminde ise BİST-100 ve BİST-50 endekslerinde meydana gelen ortalamadan sapmaların analize dahil edilen diğer endeksler tarafından düzeltilerek uzun vadede tekrar dengeye geldiği tespit edilmiştir. Granger Nedensellik Testinden elde edilen bulgulara göre ise, pandemi öncesi dönemde BİST endeksleri arasında nedensellik ilişkisi bulunamazken, pandemi döneminde ise endeksler arasında nedensellik ilişkisi tespit edilmiştir.

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Volatility Interaction of Bist Main Sector Indices: Findings on the Covid-19 Period

Güzel

2022

Sosyal Ekonomik Araştırmalar Dergisi

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The aim of the study is to determine the volatility interaction between BIST main sector indices for the period of March 2020, the date when COVID-19 was seen in Turkey, and April 2022, when the effects of the pandemic decreased on a national and global basis and the restrictions were lifted to a large extent. In other words, it is the analysis of the volatility spillover of the BIST main sector indices during the COVID-19 pandemic period. Thus, it is aimed to be a reference for investors investing in different sectors, regulatory authorities responsible for ensuring the functioning of the market, policy makers and academic studies. In this study, BIST Technology (XUTEK), BIST Industry (XUSIN), BIST Financial (XUMAL), BIST Services (XUHIZ) indices, which are the main sector indices of BIST, were used, and the Hafner and Herwartz (2006) causality-in-variance test was applied. It was found that XUMAL, XUHIZ and XUTEK are both volatility emitters and receivers at different levels, while XUSIN is a volatility receiver for all series. COVID-19 has significantly affected the volatility structure of the BIST sector indices. In terms of volatility spillover, sector indices interact intensely. The industrial sector is the sector most affected by the volatility spillover from other sectors.

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COVID-19 SALGINININ TURİZM, ULAŞTIRMA VE YİYECEK&İÇECEK SEKTÖRLERİNE ETKİSİ: RALS ENGLE VE GRANGER EŞBÜTÜNLEŞME TESTİ

Cited by 3 publications

References 25 publications

The Nexus Between COVID-19 Government Responses and Aviation Stock Prices in Turkey: OxCGRT Stringency Index-Based Analysis

The Nexus Between COVID-19 Government Responses and Aviation Stock Prices in Turkey: OxCGRT Stringency Index-Based Analysis

TÜRKİYE VE BRICS BORSALARI ARASINDAKİ UZUN ve KISA DÖNEMLİ İLİŞKİLERİN PANDEMİ DÖNEMİ VE ÖNCESİNDE KARŞILAŞTIRMALI ANALİZİ

Volatility Interaction of Bist Main Sector Indices: Findings on the Covid-19 Period

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