Research on Building Industry in U.S. Stock Market during COVID-19
These authors contributed equally.
- 10.2991/assehr.k.211209.377How to use a DOI?
- Fama-French model; COVID-19; Construction material industry; U.S stock market
The pandemic caused by Covid-19 has created a severe global economic recession and destroyed many industries since it broke out at the beginning of 2020. However, many companies in construction material industry had an outstanding performance last fiscal year. This paper applied Fama-French five-factor model to analyze the effect on the construction material industry under the Covid-19. Based on the daily five-factor data (US construction material industry stocks) from the US database, this paper selects the corresponding 18-month data, with the outbreak point of March 2020 as the dividing line (March 2020 to November 2020 is post-epidemic, while June 2019 to February 2020 is pre-epidemic). During the process of multiple-regression analysis, each coefficient of different factors has been compared, and then, it has been found that HML and RMW both have significant changes. COVID-19 has a dramatic positive effect on the construction material industry and investors prefer to invest in the companies with small scale and robust profitability.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Yiwa Lai AU - Feiming Qiu AU - Wenkai Xu AU - Yujing Yang PY - 2021 DA - 2021/12/15 TI - Research on Building Industry in U.S. Stock Market during COVID-19 BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 2302 EP - 2307 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.377 DO - 10.2991/assehr.k.211209.377 ID - Lai2021 ER -