“Good and bad investments” in public health stocks amid the COVID-19 shock: evidence from a transformer-based model

This study systematically reveals the structural differentiation and dynamic evolution of public health-related enterprises during the pandemic, thereby extending the research frontier at the intersection of public health emergency response, financial risk, and investment portfolio construction. By bridging these domains, it provides both theoretical foundations and empirical evidence to guide investment strategies and policy formulation for industries closely associated with public health, contributing to more resilient and informed financial decision-making amid future crises.