Prediction and Analysis of the Impact of Covid-19 on Luxury Goods Stock Prices

Zhiyu Fan ()
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Zhiyu Fan: Zhongnan University of Economics and Law, The School of Information and Safety Engineering

A chapter in Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), 2022, pp 551-557 from Springer

Abstract: Abstract COVID-19 has had a huge negative impact on the entire stock market, especially in the early period of the epidemic. At the start of the pandemic, global stock markets fell sharply. Luxury goods, as products with high price elasticity of demand, are more affected by the epidemic. According to research literature, sales of luxury goods have been greatly affected by the pandemic. As sales are an important factor that directly affects the price of luxury stocks, the price of luxury stocks has also declined significantly. This paper selects several luxury goods and establishes a linear regression model to predict the stock price in 2020 based on 2017–2009. By comparing the actual stock prices in 2020, the differences between the stock prices of luxury goods at the beginning of the epidemic and the predicted stock prices were further analyzed. By comparing the stock price forecast – an actual difference of several luxury goods and analyzing the correlation, this paper is concluded that COVID-19 has a large negative impact on the luxury goods stock market in the early period.

Keywords: Stock market; Luxury goods; COVID-19 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-036-7_82

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DOI: 10.2991/978-94-6463-036-7_82

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