Proceedings of The 4th International Conference on Research in Business, Management and Finance
The Holiday Seasonal Effect of Stock Price in Beverage Industry
Luzi Zhong , Jianing Zhang
This paper analyzes the correlation between the holiday effect of stock prices in beverage industry. This paper analyzes data on the closing prices of beverage industry stocks over the past ten years obtained from the Wind database, showing the anomalies of trading days around holidays compared to other trading days. The purpose of this paper is to further demonstrate the impact of the pre-holiday effect on the beverage industry in the stock market and to further understand the reasons for the pre-holiday effect on the beverage industry. This study analyzes and predicts the beverage industry stock prices affected by the holiday effect based on dummy line regression and the Autoregressive Integrated Moving Average (ARIMA) model. As that result may fluctuate by the outbreak, people are asked not to attend large gatherings, home quarantine, and people’s purchases of beverages are reduced in strength. Therefore, we used linear regression analysis of interactions and COVID-19 as bounds for robustness testing. The results show that the presence of a positive holiday seasonal impact in the stock market of the beverage industry remains robust. This paper will contribute to investors’ stock market forecasts for the beverage industry ahead of the upcoming holidays, as well as fill the gap in research on the holiday effect in the beverage industry in the Chinese market.
keywords: Holiday Effect, beverage industry, seasonal fluctuation .