Investor Attention and Stock Market under the Outbreak of the COVID-19-Based on the Data of Mask Concept Stocks

Investor Attention and Stock Market under the Outbreak of the COVID-19-Based on the Data of Mask Concept Stocks

Zhang Bokai, Wang Xuan, Rao Meng

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.

2020

10.1051/e3sconf/202021402024

Epidemiology and Health

Korean Society of Epidemiology

Environmental sciences