Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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The Impact of COVID-19 on Agriculture Industry in U.S Stock Market

Authors
Yuhan Jin1, *
1Faculty of Economics, Shenzhen University, Shenzhen 518000, China
*Corresponding author. Email: 2018221003@email.szu.edu.cn
Corresponding Author
Yuhan Jin
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.258How to use a DOI?
Keywords
COVID-19; Agriculture; Fama-French Model; U.S. stock market
Abstract

Under the impact of the global outbreak of COVID-19, macroeconomic fluctuations have different degrees of effects on various industries. The outbreak of the new crown pneumonia epidemic has caused another negative impact on the already weak global economy. This paper analyzes the changes of American agricultural industry to explore the impact of this basic industry based on Fama French five factor model. This study selects the data from 2019.5.1 to 2020.2.28 as the data before the COVID-19 and 2020.3.1 to 2020.12.31 as the data after the appearance of COVID-19 in the U.S. The significance of five factors and the change of beta in 10 months before and after the epidemic are compared by multiple linear regression. According to the results, the market factor MKT of the agricultural industry did not change much, which was still less than 1. The market value factor SMB of the agricultural industry has changed from significant to insignificant. As for t-Stat of HML factor changed from 0.61 to 3.88, which turned to be significant during COVID-19. Moreover, RMW and CMA stayed redundant. Based on the analysis, this paper aims to evaluate the stocks of American agricultural companies suitable for investment in the epidemic stage. These results shed light for a reference of industry analysis and stock investment during the epidemic period.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
10.2991/assehr.k.211209.258
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.258How to use a DOI?
Copyright
© 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

risenwbib
TY  - CONF
AU  - Yuhan Jin
PY  - 2021
DA  - 2021/12/15
TI  - The Impact of COVID-19 on Agriculture Industry in U.S Stock Market
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1591
EP  - 1596
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.258
DO  - 10.2991/assehr.k.211209.258
ID  - Jin2021
ER  -