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

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How Does COVID-19 Impact Chinese New Energy Vehicle Stock Market? - Research based on Fama-French Model

Authors
Handi Yang1, *
1Beijing University of Technology, Beijing, China
*Corresponding author. Email: handi.yang@ucdconnect.ie
Corresponding Author
Handi Yang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_214How to use a DOI?
Keywords
COVID-19; Chinese NEV Stock Market; Fama-French Model; Regression Analysis
Abstract

While Chinese new energy vehicle (NEV) industry is emerging with the support of policies, the plague made damages on the industry by influencing the material supply and technological process of it. During the pandemic, the crude oil price decreased, causing new energy automobiles less attractive. This paper aimed to discover how does COVID-19 impact Chinese NEV stock market, which is helpful for investors, consumers, and the study in NEV field. The research is carried on by employing modified Fama-French model and regression analysis via Eviews. The coefficient of COVID-19 factor is -0.143360, which means the pandemic negatively influenced Chinese NEV stock market and the influence is gentle. This study can bring benefits to both investors and consumers. From the stock market perspective, investors are not recommended to make investments in the Second Board and Chinese NEV market unless risk lovers. Furthermore, since both big enterprises and companies with high book-to-market ratios are mostly overvalued in this market, investors should carefully examine the situation before buying stocks. For the consumers who eager to purchase new energy automobiles, it is not sensible to buy them when the pandemic is severe in the region.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_214How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Handi Yang
PY  - 2022
DA  - 2022/12/31
TI  - How Does COVID-19 Impact Chinese New Energy Vehicle Stock Market? - Research based on Fama-French Model
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1446
EP  - 1451
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_214
DO  - 10.2991/978-94-6463-036-7_214
ID  - Yang2022
ER  -