Advances in Economics, Management and Political Sciences

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Proceedings of the 2023 International Conference on Management Research and Economic Development

Series Vol. 21 , 13 September 2023


Open Access | Article

The Performance Variation of Film Industry During Different Phases of COVID-19 Based on CAPM

Yanying Chen * 1
1 Shanghai Jiaotong University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 21, 45-52
Published 13 September 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yanying Chen. The Performance Variation of Film Industry During Different Phases of COVID-19 Based on CAPM. AEMPS (2023) Vol. 21: 45-52. DOI: 10.54254/2754-1169/21/20230232.

Abstract

The COVID-19 pandemic has shocked the financial market since 2020. The lock-down and social distancing measures have brought challenges to the film industry. This study analyzes stock prices and examines the impact of the pandemic on film industry through CAPM. Five big film companies are selected as a typical sample to investigate the performance of film industry. Data including daily returns and close prices of each stock is extracted from Yahoo Finance. In addition, linear regression is used in this study to calculate the stock’s beta, alpha and R-square based on CAPM. According to the analysis, the pandemic outbreak has increased the unavoidable risks of the film industry brought from the market. Stocks of five film companies performed worse than expected, which indicated that the pandemic did put a bad effect on the film industry. Besides, the performance of five film companies is relative with the market but with higher fluctuation, indicating that there are more uncertainties in film industry compared to the market. These results shed light on guiding further exploration of film industry’s emergency responses towards events like pandemic.

Keywords

CAPM, COVID-19, film industry

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2023 International Conference on Management Research and Economic Development
ISBN (Print)
978-1-915371-85-0
ISBN (Online)
978-1-915371-86-7
Published Date
13 September 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/21/20230232
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated