Proceedings of the 2021 International Conference on Financial Management and Economic Transition (FMET 2021)

Effect of COVID-19 on US TV Stocks Based on Fama-French Model Analysis

Authors
Long Long, Weichao Wu, Yuxiang Weng, Chaobang Zhang
Corresponding Author
Long Long
Available Online 18 September 2021.
DOI
10.2991/aebmr.k.210917.084How to use a DOI?
Keywords
COVID-19, US TV stocks, Fama-French model analysis
Abstract

The COVID-19 has become a global crisis since it broke out at the beginning of 2020, which has led to a global economic recession and a deep influence on the stock market. This research adopted the Fama-French model to analyze the impact of the epidemic on the listed TV companies’ stock in the US stock market. The research data was consulted from the CRSP database with the factors of the Fama-French model and the value & equal-weighted returns for 38 industry portfolios in the US market. The research selected the data above from April 1, 2019, to January 29, 2021 and chose March 1 as the date of the outbreak of the epidemic in the US, which represented the timeline before and after COVID-19. After multiple linear regression, it was found that COVID-19 has had a significant effect on the TV industry. The analysis of five factors concluded that the market preference shows the following characteristics: value stock, high profitability, and aggressive investment style. It is recommended that the investors who want to invest in the TV industry in the US stock market can take the stocks with the above features as the investment targets in the post-epidemic period, and this theory can also be applied to future investment whenever an analogous event happens.

Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2021 International Conference on Financial Management and Economic Transition (FMET 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
18 September 2021
ISBN
10.2991/aebmr.k.210917.084
ISSN
2352-5428
DOI
10.2991/aebmr.k.210917.084How to use a DOI?
Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Long Long
AU  - Weichao Wu
AU  - Yuxiang Weng
AU  - Chaobang Zhang
PY  - 2021
DA  - 2021/09/18
TI  - Effect of COVID-19 on US TV Stocks Based on Fama-French Model Analysis
BT  - Proceedings of the 2021 International Conference on Financial Management and Economic Transition (FMET 2021)
PB  - Atlantis Press
SP  - 554
EP  - 559
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210917.084
DO  - 10.2991/aebmr.k.210917.084
ID  - Long2021
ER  -