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Investigate the Impact of the Covid-19 Epidemic on Stock Investments in the American Insurance Industry Based on the Fama-French Five-Factor Model

In: Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

Author

Listed:
  • Xinyuan Zhang

    (Lanzhou University, Department of Economics)

Abstract

As one of the most important indicators in financial markets, stock markets can reflect the changing trends of the market. In this paper, using the background of the American insurance industry, according to the Fama-French Five-Factor model and Multiple Linear Regression, the pertinence relations between the five impact factors and the stock excess return rates in the re-epidemic period, post-epidemic before vaccination period, and post-epidemic after vaccination period are calculated respectively. Then, longitudinal changes of each factor are compared to explain the changes in stock investment situations. Empirical research shows that affected by the epidemic, investors make varying degrees of investment changes in five aspects. Finally, some suggestions are given to investors. In this model, insurance industry investors should allocate small-cap stocks, value stocks, and aggressive stocks considering the impact of the COVID-19 epidemic.

Suggested Citation

  • Xinyuan Zhang, 2022. "Investigate the Impact of the Covid-19 Epidemic on Stock Investments in the American Insurance Industry Based on the Fama-French Five-Factor Model," Advances in Economics, Business and Management Research, in: Yushi Jiang & Yuriy Shvets & Hrushikesh Mallick (ed.), Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), pages 151-157, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-036-7_23
    DOI: 10.2991/978-94-6463-036-7_23
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