The effect of Turkey-centered February 6 earthquakes on Borsa Istanbul

Many events in history have had a negative impact on the countries and cultures where disasters happened. These occurrences have a negative impact on the living standards and quality of life of societies. The consequences of these unforeseen historical occurrences have had a devastating impact not just on the region where they occurred, but also on the entire world as a result of globalization. Natural disasters that occur today are referred to be global events. These events, which have an impact in our country and around the world, have caused not only social but also economic damage, which cannot be overlooked. The aim of the study is to examine the impact of the February 6 Kahramanmaraş Earthquake in Turkey on Borsa Istanbul on a sectoral basis. Accordingly, in this study, Event Study analysis was used as a method to examine the impact of the February 6 Earthquake in Turkey on the Istanbul Stock Exchange. According to the findings of the study, Borsa Istanbul service sector was the sector most negatively affected by the earthquake. While financial, industrial and technology sectors also have negative returns in different event windows, these abnormal returns are not statistically significant. Considering the cumulative average abnormal returns, it is seen that the effect of the earthquake caused negative abnormal returns in the short term, but this effect decreased after a while.