Abstract
Chinese Baijiu industry has always been a popular investment choice. Since 2020, the scale of COVID-19 has been further expanded, followed by a gradual increase in the risk, therefore, calculation and analysis of the risk in Chinese Baijiu industry has become a priority. In this paper, the CAPM model is utilized for empirical research. Taking the 3-year interest rate of national debt as the risk-free interest rate, the opening and closing prices of Kweichow Maotai Co., Ltd, Shanxi Fenjiu Co., Ltd and Kouzijiao Co., Ltd, and Shanghai composite index and Shenwan Baijiu Industry Index from 2019 to 2022 are selected to calculate β, and the risk degree is determined according to the β range. According to the analysis, during the three-year pandemic, the expected rate of return of investment in the Chinese Baijiu industry is higher than the average market rate of return, and the risk level of Chinese Baijiu industry is higher than the risk of the entire market portfolio. In addition, the overall systematic risk of Chinese Baijiu industry is low. The research offers a guideline for investors in the A-share market to understand the real situation of companies in the Baijiu industry in all aspects and provide scientific value guidance for investors who prefer to make equity.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
