Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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Analysis of the Impact of the Epidemic on the Technology-related Industry by Fama-French Five-factors Model

Authors
Guoxu Zhou1, *
1International College, Hailiang Foreign Language School, Zhuji City,311814, China
*Corresponding author. Email:guanghua.ren@gecacdemy.cn
Corresponding Author
Guoxu Zhou
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.422How to use a DOI?
Keywords
Fama-French model; Covid-19; Technology industry; Asset Pricing
Abstract

Before and during the epidemic, all major industries were hit and affected to a certain extent. In this paper, the Fama-French five-factor model is used as the basic model. The data from the French database and the method of linear regression are adopted to analyze the impact on the technology industry. Three industries, chip, software, and hardware, are adopted as the research objects. In the analysis of factor changes, it is found that the model is suitable for the analysis of the technology market, and there is no abnormal existence. The sensitivity of the technology industry as a whole to the changes in supply and demand caused by the epidemic is increasing significantly. As for the market, investors preferred to invest in companies with strong profitability. The technology market is subdivided into hardware and software sectors. The epidemic situation has a certain inhibitory effect on the hardware industry, while it gives a certain development space to the software industry. According to the structural bull market of Nasdaq, the software industry is more in favor of investing in high market capitalization companies. For the technology industry as a whole, the shifts in investors and market preferences have not been significant.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
978-94-6239-483-4
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.422How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - Guoxu Zhou
PY  - 2021
DA  - 2021/12/15
TI  - Analysis of the Impact of the Epidemic on the Technology-related Industry by Fama-French Five-factors Model
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2588
EP  - 2593
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.422
DO  - 10.2991/assehr.k.211209.422
ID  - Zhou2021
ER  -