Price Bubble Detection In The Covid-19 Period: Empirical Evidence From BIST Bank Index

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Quantrade Journal of Complex Systems in Social Sciences
Cilt: 7 Sayı: 2
Price Bubble Detection In The Covid-19 Period: Empirical Evidence From BIST Bank Index

Price Bubble Detection In The Covid-19 Period: Empirical Evidence From BIST Bank Index

Authors : Diler Türkoğlu, Fatih Konak

Pages : 142-153

View : 49 | Download : 202

Publication Date : 2025-12-31

Article Type : Research Paper

Abstract :Price bubbles are known to upset market equilibrium and affect investor choices in times of financial crisis. Determining which assets are impacted by price bubbles is therefore crucial for scholars and market players alike. Accordingly, this study investigates whether price bubbles developed in the shares of banks that are part of the BIST Banking Index between March 11, 2020, when the Covid-19 pandemic initially surfaced in Turkey, and April 9, 2022, when all pandemic-related restrictions were repealed. The study also looked into whether these bubbles varied amongst banks. To find price bubbles, the SADF and GSADF tests were used. Price bubbles have developed in the shares of Akbank, Halkbank, and Şekerbank, according to the findings of the analysis carried out at a 5% significance level. In contrast, the shares of ICBC, Garanti Bankası, and Vakıfbank did not exhibit any price bubbles. Test results from other banks were not included in the analysis because they did not fit the requirements for statistical significance.
Keywords : Fiyat Balonu, GSADF, BIST Banka Endeksi

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