COVID–19’s Impact on the Chinese Stock Market

Abstract

The COVID-19 has had an uncertain impact on the world's stock markets, bringing challenges or opportunities to all industries. This article adopts the descriptive statistical analysis and an event study approach to evaluate whether and how the COVID-19 has affected the animation, comic, and game (ACG) industry in China and discusses the possible reasons for the empirical results. The study found that COVID-19 has a significant positive impact on China's ACG industry and the reasons for this phenomenon can be explained by the development status of China's ACG industry and the impact of the policies of lockdown and quarantine during the event. In response to this result, timely risk warnings to ensure market security are important and investors are suggested to pay attention to the impact of policy changes on the market. This article will play a certain reference significance for future investors to deal with similar events.