New Global Studies, cilt.18, ss.1-26, 2023 (Scopus)
In this study, we examined the Covid-19 effect in the global scale on the global retail markets
with the Event Study methodology. The sample used in the study consists of data from 10
developed and developing countries in 6 continents, which are obtained from Reuters
DataStream. The top large-cap, blue-chip companies in the stock market for each economies
were included in the study, which is totaled of 91 active retail sector shares and major indices.
Based on our findings; the cumulative average of abnormal returns (CAAR) of the retailers in
three Event Studies in question showed a distortion in the efficiency of the formation of the
retail prices at the 0.01, 0.01 and 0.05 significance levels and the global retail stock prices
overreacted more.