Investigating the Effects of Natural Disasters on the Stock Market on a Sectoral Basis: The Case of 2023 Kahramanmaraş/Türkiye Earthquake

The aim of this study is to examine the effects two earthquakes in Kahramanmaraş/Türkiye on February 06, 2023 Borsa Istanbul (BIST) stock markets a sectoral basis. In context, it investigated whether there statistically significant difference between returns before and after earthquake. study, 18 BIST index are divided into sub-samples as pre-earthquake post-earthquake analyzed by event method. For purpose, Paired Samples t-Test, parametric test, Wilcoxon Signed Rank Test, which non-parametric equivalent used. According results research, no was found sector indices. findings show that, case investing indices, abnormal cannot be obtained depending earthquake event. Accordingly, can stated that indices an efficient market semi-strong form.