The Impact of Political Elections on Financial Markets as Political Risk Factor: A Case Study of the 2023 Turkey Presidential Elections

Esra Karpuz; Yasemin Deniz Koç; Onur Demir

doi:10.59372/turajas.1348877

EN TR

The Impact of Political Elections on Financial Markets as Political Risk Factor: A Case Study of the 2023 Turkey Presidential Elections

Abstract

The aim of the study is to analyze the impact of the 2023 Presidential elections on the BIST-30 index using the event study methodology. When evaluating the findings regarding the impact of the 2023 Presidential elections held in Turkey on the stock returns of companies traded in the BIST-30 index, in the 1st round election is a negative abnormal return while the 2nd round election has a positive abnormal return. According to the research findings, while investors' expectations during the election process were towards the continuation of market stability, the elections proceeding to the 2nd round led to a negative reaction contrary to those expectations. In the second round, the election outcome, which aligned with market expectations, is met with a positive abnormal return in the market. The absence of a study conducted on the 2023 political elections is the originality of the research and its contribution to the literature.

Keywords

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Finans ve Yatırım (Diğer)

Bölüm

Araştırma Makalesi

Yazarlar

Esra Karpuz ^*
0000-0003-2765-4082
Türkiye

Yasemin Deniz Koç
0000-0001-8280-7657
Türkiye

Onur Demir
0009-0000-0837-5577
Türkiye

Erken Görünüm Tarihi

31 Aralık 2023

Yayımlanma Tarihi

3 Ocak 2024

Gönderilme Tarihi

23 Ağustos 2023

Kabul Tarihi

26 Aralık 2023

Yayımlandığı Sayı

Yıl 1970 Cilt: 6 Sayı: 2

DOI

https://doi.org/10.59372/turajas.1348877

IZ

https://izlik.org/JA82GT59KD

Kaynak Göster

RIS / Bibtex

APA

Karpuz, E., Koç, Y. D., & Demir, O. (2024). The Impact of Political Elections on Financial Markets as Political Risk Factor: A Case Study of the 2023 Turkey Presidential Elections. Turkish Research Journal of Academic Social Science, 6(2), 139-146. https://doi.org/10.59372/turajas.1348877

Cited By

Gelişmekte Olan Ülkeler Perspektifinden Politik Riskin Pay Senedi Piyasalarına Yansımalarına Yönelik Ekonometrik Kanıtlar

TESAM Akademi Dergisi

https://doi.org/10.30626/tesamakademi.1422381

Politik Risk Unsuru Olarak Siyasi Seçimlerin Finansal Piyasalara Etkisi: 2023 Türkiye Cumhurbaşkanlığı Seçimleri Olay Çalışması

The Impact of Political Elections on Financial Markets as Political Risk Factor: A Case Study of the 2023 Turkey Presidential Elections

Abstract

Keywords

Politik Risk Unsuru Olarak Siyasi Seçimlerin Finansal Piyasalara Etkisi: 2023 Türkiye Cumhurbaşkanlığı Seçimleri Olay Çalışması

Öz

Anahtar Kelimeler

Kaynakça

Ayrıntılar

Birincil Dil

Konular

Bölüm

Yazarlar

Erken Görünüm Tarihi

Yayımlanma Tarihi

Gönderilme Tarihi

Kabul Tarihi

Yayımlandığı Sayı

DOI

IZ

Kaynak Göster

Cited By

Gelişmekte Olan Ülkeler Perspektifinden Politik Riskin Pay Senedi Piyasalarına Yansımalarına Yönelik Ekonometrik Kanıtlar