The impact of natural disaster shocks on business confidence level and Istanbul Stock Exchange: A wavelet coherence approach

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dc.authoridBilgili, Faik/0000-0003-4138-6897
dc.authoridMagazzino, Cosimo/0000-0002-3176-9838
dc.contributor.authorToguc, Nurhan
dc.contributor.authorKuskaya, Sevda
dc.contributor.authorMagazzino, Cosimo
dc.contributor.authorBilgili, Faik
dc.date.accessioned2024-09-11T19:50:06Z
dc.date.available2024-09-11T19:50:06Z
dc.date.issued2023
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThe focus of this study is to examine the short-and long-term causal effects of natural disaster shocks on the stock market and business confidence level in the time-frequency domain by studying the co-movements between earthquake data and the Istanbul Stock Index closing prices, using the Wavelet Coherence and Phase Difference analyses. The empirical findings reveal that the relationship between earthquake events and financial markets is not stable over time and across different time horizons. The linkage becomes stronger in the long term when the impact of the earthquake event coincides with a financial crisis reflecting a combined effect. This nexus is also strong during the years 2007-2011 reflecting a similar combined effect of both an earthquake event and the global financial crisis. Meanwhile, co-movement between the earthquake and the financial market index implies a negative effect in the period 2011-2012, indicating short-run effects of stock market shocks. Differentiating these short-term and long-term effects has implications for risk man-agement and policymaking.en_US
dc.identifier.doi10.1002/gj.4868
dc.identifier.endpage4624en_US
dc.identifier.issn0072-1050
dc.identifier.issn1099-1034
dc.identifier.issue12en_US
dc.identifier.scopus2-s2.0-85169795198en_US
dc.identifier.startpage4610en_US
dc.identifier.urihttps://doi.org/10.1002/gj.4868
dc.identifier.urihttps://hdl.handle.net/11363/7556
dc.identifier.volume58en_US
dc.identifier.wosWOS:001062997000001en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherWileyen_US
dc.relation.ispartofGeological Journalen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectBIST-100 indexen_US
dc.subjectdecision makingen_US
dc.subjectearthquakeen_US
dc.subjectphase differenceen_US
dc.subjectrisk managementen_US
dc.subjectTurkeyen_US
dc.subjectwavelet coherenceen_US
dc.titleThe impact of natural disaster shocks on business confidence level and Istanbul Stock Exchange: A wavelet coherence approachen_US
dc.typeArticleen_US

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