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

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Research on Building Industry in U.S. Stock Market during COVID-19

Authors
Yiwa Lai1, †, Feiming Qiu2, †, Wenkai Xu3, †, Yujing Yang4, *, †
1University of Science and Technology Beijing, Beijing, 100000, China
2East China University of Science and Technology, Shanghai, 200000, China
3Beijing University of Technology, Beijing, 100000, China
4Shanghai Lixin University of Accounting and Finance, Shanghai, 200000, China
†

These authors contributed equally.

*Corresponding author: e-mail: guanghua.ren@gecacademy.cn
Corresponding Author
Yujing Yang
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.377How to use a DOI?
Keywords
Fama-French model; COVID-19; Construction material industry; U.S stock market
Abstract

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.

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
978-94-6239-483-4
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.377How 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  - 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  -