新型媒介背景下的信息扩散方式对资产定价的影响研究

Research on the Influence of Information Diffusion Mode on Asset Pricing under the Background of New Media

随着Web2.0背景下新型媒介的蓬勃发展和信息扩散方式的变革,新型信息传播媒介逐渐深入影响投资者的投资行为。以网络开源信息模型为基础,采用微信指数指标体系建立复杂网络扩散模型,研究Web2.0背景下新型媒介信息传播对资产定价的影响问题。结果表明:Web2.0背景下,微信指数确实会影响资产定价,但微信指数并不包含影响股票收益率的全部信息。同时,相比于网络开源模型,复杂网络扩散模型对于成交量中额外信息的发现能力更强。

With the vigorous development of new media under the background of web2.0 and the reform of information diffusion mode,the new information communication media gradually influences the investment behavior of investors.Based on the network open source information model,this paper uses WeChat index to set up a complex network diffusion model and studies the influence of new media s information diffusion on asset pricing.The results show that WeChat index does affect asset pricing under the background of web2.0,but it does not contain all the information that affects stock returns.Meanwhile,compared with the open source network model,the complex network diffusion model has a stronger ability to discover additional information of the trading volume.