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An Empirical Study of the Market Impact of the COVID-19 on the US Agricultural Sector

In: Proceedings of the 4th International Conference on Economic Development and Business Culture (ICEDBC 2024)

Author

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  • Zitong Jiao

    (Lingnan University, Faculty of Social Sciences)

Abstract

The diagnosis of the first case of a novel coronavirus in the United States on January 21, 2020, caused considerable volatility in the This paper collects a large amount of data and conducts regression analysis to examine the extent of the impact on industry market returns through a five-factor Fama-French model that looks at five aspects: market, size, the ratio of total shareholders’ equity to market capitalization, a firm’s ability to make money, and a firm’s investment style, and draws four conclusions: investors’ propensity to invest before and after the epidemic is reversed in the face of firms with high and low book-to-market ratios. The significance of the element of corporate profitability on industry returns was reversed before and after the epidemic; people’s investment preferences were more inclined to invest in positive companies after the epidemic; and the two factors of market and firm size had a significant impact on industry returns both before and after the epidemic. The study found that the New Crown epidemic, a black swan event, had a significant impact on the condiment industry, and investors should avoid investing in related companies and could make short-term investments in companies whose main business is related to eggs.

Suggested Citation

  • Zitong Jiao, 2024. "An Empirical Study of the Market Impact of the COVID-19 on the US Agricultural Sector," Advances in Economics, Business and Management Research, in: Zhikai Wang & Guijie Zhang & R. Ganesan & Abdul Hadi Zulkafli & Teh Sin Yin (ed.), Proceedings of the 4th International Conference on Economic Development and Business Culture (ICEDBC 2024), pages 278-284, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-538-6_32
    DOI: 10.2991/978-94-6463-538-6_32
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