Proceedings of the International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2022, October 28-30, 2022, Shenzhen, China

Research Article

The Impact of COVID-19 on the Medical Industry Based on the OLS Model

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  • @INPROCEEDINGS{10.4108/eai.28-10-2022.2328398,
        author={Hongqi  Cai and Leying  Li and Jianglin  Su},
        title={The Impact of COVID-19 on the Medical Industry Based on the OLS Model},
        proceedings={Proceedings of the International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2022, October 28-30, 2022, Shenzhen, China},
        publisher={EAI},
        proceedings_a={FFIT},
        year={2023},
        month={4},
        keywords={covid-19; ols; medical industry},
        doi={10.4108/eai.28-10-2022.2328398}
    }
    
  • Hongqi Cai
    Leying Li
    Jianglin Su
    Year: 2023
    The Impact of COVID-19 on the Medical Industry Based on the OLS Model
    FFIT
    EAI
    DOI: 10.4108/eai.28-10-2022.2328398
Hongqi Cai1, Leying Li1, Jianglin Su1,*
  • 1: Business Administration University of Macau Macau
*Contact email: bb80210@umac.mo

Abstract

The large-scale outbreak of the new crown in 2020 has led to a great blow to China’s economy. In order to investigate the impact of COVID-19’s on China’s stock market, the daily return data of stock index, bank and medical sector were collected for ordinary least square linear regression analysis, and the results were tested for significance. Based on the analysis, it is concluded that the COVID-19 basically had a negative impact on the domestic stock market, especially in the banking industry, while the medical industry had the opposite impact. However, over time, these effects have also stabilized with the Chinese government’s policy instruments to control the COVID-19. Overall, these results shed light on the impact of COVID-19 on Chinese stock market.