Risk Perception and Asset Pricing: Evidence from Expectancy Theory and Big Data at Baidu.com
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| Title | Risk Perception and Asset Pricing: Evidence from Expectancy Theory and Big Data at Baidu.com
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| Author | Zeng Jianguang |
| Organization | School of Accounting, Southwestern University of Finance and Economics |
| Email | zengjg@pku.edu.cn |
| Key Words | YuEBao; Risk Perception; Risk Premium; Expectancy Theory; Big Data |
| Abstract | With the rapid economic development Internet finance takes palce on Internet. And more and more Internet users with a little money pay more and more attention to the risk that the money would be stolen away, because Internet would facilitate matters if an ill-disposed hacker looks for and discovers a vulnerability in the security mechanism that allows him to break through the authentication ,or he is able to exploits some unknown limitations of the security mechanism without the need to know the required user's authentication information. These make up of the investors' perceived risks. And this attention reflects the status quo of investors' perceived risks. This paper investigates whether the investors' perceived risks to YuEBao has an effect on the return of Internet finance. We find that more attentions paid to perceived risk significantly increase the risk premium,and more attention from personal computer is significantly able to increase the risk premium. |
| Serial Number | WP697 |
| Time | 2014-09-11 |
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