The Impact of News about Pandemic on Borsa Istanbul during the COVID-19 Financial Turmoil

Creative Commons License

Tan Ö. F.

TURKIYE ILETISIM ARASTIRMALARI DERGISI-TURKISH REVIEW OF COMMUNICATION STUDIES, cilt.0, sa.37, ss.109-124, 2021 (ESCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 0 Sayı: 37
  • Basım Tarihi: 2021
  • Doi Numarası: 10.17829/turcom.859299
  • Dergi Adı: TURKIYE ILETISIM ARASTIRMALARI DERGISI-TURKISH REVIEW OF COMMUNICATION STUDIES
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.109-124
  • Anahtar Kelimeler: COVID-19, Borsa Istanbul, Financial Markets, Fake News Index, Country Sentiment Index, Panel Quantile Regression, STOCK, MEDIA, UNCERTAINTY, SENTIMENT, RETURNS, TURKEY
  • Marmara Üniversitesi Adresli: Evet

Özet

The COVID-19 pandemic, which emerged in December 2019 and then spread worldwide, has affected not only economic and social life but also the financial markets. It has left investors greatly panicked and affected their decisions. In this study, the effect of COVID-19 related news on Borsa Istanbul is analyzed using the panel quantile regression method. The study period is set between 10 March 2020 and 17 April 2020. The panic index, media hype index, fake news index, country sentiment index, infodemic index, and media coverage index created by the RavenPack data platform are used for the analysis. The impact of news, it was found, varies amongst the quantiles, and there exists an asymmetric dependence between the returns of Borsa Istanbul and COVID-19 related news. More efficient communication channels, the results indicate, should be used to alleviate the financial turmoil caused by COVID-19.