Impact of COVID-19 Attention on Pharmaceutical Stock Prices Based on Internet Search Data

Based on Baidu Index, 223 pharmaceutical stocks selected from the CSI 300 index from November 1, 2019 to June 8, 2020 were selected as research samples. Fama-French three-factor model and panel regression analysis were adopted to study the impact of investors’ attention to COVID-19 on the pharmaceut...

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Bibliographic Details
Published inBig Data Analytics for Cyber-Physical System in Smart City Vol. 1303; pp. 1213 - 1220
Main Authors Xia, Yuanting, Hu, Wenxiu
Format Book Chapter
LanguageEnglish
Published Singapore Springer 2021
Springer Singapore
SeriesAdvances in Intelligent Systems and Computing
Subjects
Baidu index
COVID-19
Investor attention
Online AccessGet full text
ISBN9789813345737
981334573X
ISSN2194-5357
2194-5365
DOI10.1007/978-981-33-4572-0_174

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Summary:Based on Baidu Index, 223 pharmaceutical stocks selected from the CSI 300 index from November 1, 2019 to June 8, 2020 were selected as research samples. Fama-French three-factor model and panel regression analysis were adopted to study the impact of investors’ attention to COVID-19 on the pharmaceutical stock market. Based on the three-factor model, this study explained the impact of investors’ increasing concern about the epidemic on the medical stock market from three dependent variables of return rate, trading volume and amplitude. The results show that investors’ attention to COVID-19 has a significant positive impact on the return, volume and amplitude of the pharmaceutical stock market during the same period.
ISBN:9789813345737
981334573X
ISSN:2194-5357
2194-5365
DOI:10.1007/978-981-33-4572-0_174