Study on the Impact of COVID-19 on the Yield of Traditional Chinese Medicine Sector

DOI

10.2991/aebmr.k.220603.016How to use a DOI?

Keywords

COVID-19 Pandemic; Event Study Methodology; Traditional Chinese medicine; Media reports

Abstract

In order to investigate whether the release of relevant news has a significant effect on the daily return of the Chinese medicine sector so as to discuss consumer behavior. Based on the epidemic era and the efficient market hypothesis, this article uses the CSI Traditional Chinese medicine index and the CSI 300 index stock data to examine the data using event study methodology and hypothesis testing to investigate whether the results are significant. A total of three tests are conducted and the results are all significant, thus proving the hypothesis that the release of relevant news has a significant impact on the daily return of the Chinese medicine sector. This indicates that the investors’ decisions are not completely rational and there is a great possibility of irrational behavior of blindly following public opinion to follow the trend of investment.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

Download article (PDF)

TY  - CONF
AU  - Yucheng Zhou
AU  - Xinrui Ma
AU  - Yuxuan Zhao
AU  - Weiren Xu
PY  - 2022
DA  - 2022/07/01
TI  - Study on the Impact of COVID-19 on the Yield of Traditional Chinese Medicine Sector
BT  - Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)
PB  - Atlantis Press
SP  - 83
EP  - 89
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220603.016
DO  - 10.2991/aebmr.k.220603.016
ID  - Zhou2022
ER  -