E3S Web Conf.
Volume 214, 20202020 International Conference on Energy Big Data and Low-carbon Development Management (EBLDM 2020)
|Number of page(s)||5|
|Section||Machine Learning and Energy Industry Structure Forecast Analysis|
|Published online||07 December 2020|
Investor Attention and Stock Market under the Outbreak of the COVID-19-Based on the Data of Mask Concept Stocks
1 School of Economics, Sichuan Agricultural University, Chengdu, China
2 School of Finance, Zhongnan University of Economics and Law, Wuhan, China
3 School of Economics and management, East China Jiaotong University, Nanchang, China
With the outbreak of the COVID-19 epidemic, masks have become an important medical material widely concerned by society, which also affects investor sentiment and mask concept stock prices. This article focuses on the impact of investor attention on the rate of return of mask concept stocks. Through the establishment of a panel fixed effect model, it is found that during the epidemic, investor attention to masks has a significant positive impact on the rate of return on mask concept stocks. Then, this article takes the epidemic-related indicators as instrumental variables and uses a two-stage least squares method to carry out the endogenous test, which further verifies the above conclusions and finally puts forward reasonable suggestions.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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