Natural disasters, investor sentiments and stock market reactions: Evidence from Turkey-Syria earthquakes

Sakariyahu, Rilwan; Lawal, Rodiat; Oyekola, Olayinka; Dosumu, Oluwatoyin Esther; Adigun, Rasheed

Abstract

This study provides stylized facts on the relationships between natural disasters, investor sentiments and market performance using the recent Turkey-Syria earthquakes. We employ daily stock market data relating to Turkey’s 21 major trading partners and find significant negative impact of the disaster on the sampled countries’ stock market returns, particularly for countries near Turkey.

Citation

Sakariyahu, R., Lawal, R., Oyekola, O., Dosumu, O. E., & Adigun, R. (2023). Natural disasters, investor sentiments and stock market reactions: Evidence from Turkey-Syria earthquakes. Economics Letters, 228, Article 111153. https://doi.org/10.1016/j.econlet.2023.111153

• Journal Article Type: Article
• Acceptance Date: Apr 29, 2023
• Online Publication Date: May 5, 2023
• Publication Date: 2023-07
• Deposit Date: May 12, 2023
• Publicly Available Date: Jun 6, 2023
• Journal: Economics Letters
• Print ISSN: 0165-1765
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 228
• Article Number: 111153
• DOI: https://doi.org/10.1016/j.econlet.2023.111153
• Keywords: Earthquake, Investor sentiment, Stock market, Turkey-Syria, Trading partners