Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

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Empirical Analysis of Holiday Effect on Chinese Baijiu Stocks

Authors
Zongya Chen1, *, Luyun Zhang2, Fangming Li3
1School of Accounting, Shanghai University of Finance and Economics, Shanghai, 200433, China
2School of Economics and Management, University of Science and Technology Beijing, Beijing, 100083, China
3School of Social Science, University of Manchester, Manchester, M13 9PL, UK
*Corresponding author. Email: kathyzc8_317@163.com
Corresponding Author
Zongya Chen
Available Online 14 December 2022.
DOI
10.2991/978-94-6463-054-1_23How to use a DOI?
Keywords
Holiday Effect; Baijiu Industry; Quantitative Analysis; Event Study
Abstract

The baijiu sector is a representative segment of the Chinese stock market. In 1994, the first Baijiu stock “Shanxi Xinghuacun Fen Wine Factory” was successfully listed on Shanghai Stock Exchange. After that the segment faced rapid development, increasing the number of related shares listed successfully. In 2022, the number of stocks in the sector has increased to 40. From an industry perspective, this paper takes Baijiu stocks listed on Shanghai Stock Exchange and Shenzhen Stock Exchange for more than 10 years between 2013 and 2022 as samples and analyzes the pre-holiday and post-holiday returns of Baijiu stocks by using the event analysis method. By comparing the abnormal returns, it is proved that the Baijiu sector is affected by the festival effect.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
14 December 2022
ISBN
10.2991/978-94-6463-054-1_23
ISSN
2352-5428
DOI
10.2991/978-94-6463-054-1_23How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Zongya Chen
AU  - Luyun Zhang
AU  - Fangming Li
PY  - 2022
DA  - 2022/12/14
TI  - Empirical Analysis of Holiday Effect on Chinese Baijiu Stocks
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 199
EP  - 209
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_23
DO  - 10.2991/978-94-6463-054-1_23
ID  - Chen2022
ER  -