| Under the background of the new media,the way of information diffusion changes,relative to the traditional media under a single linear spread of information,the information in the new media background is no longer one-way transmission,the delivery of information is platform-based,interactive,large Data-based and provide a rich service experience.In the context of new media,information that affects asset prices is passed to investors through traditional media or new media channels.Investors can choose to forward the information directly through the new media channel,or release after processing the information.The initial information was analyzed,sorted,packaged and distributed through a large number of individuals,the information was interactively transmitted,which has an impact on asset pricing.On the basis of Zhang Yongjie's network open source information model in 2010,this paper builds up the complex network diffusion model based on the network open source information model by using the micro-index of quantification of large data,and studies the relationship between micro-index and asset yield.A total of 100 small and medium-sized board stocks less affected by noise were selected as the research object.After the data was cleaned,the remaining 79 stocks were taken as the research object.The experimental results show that the WI index has an impact on the pricing of assets in the complex network model.The impact degree is 20.3% at the 5% significance level and 13.9% at the 1% significance level.At the same time,the WI index also contained information not included in the volume,the degree of impact was 12.7% at the 5% significance level and 5.1% at the 1% significance level.Compared to 8% of the 5% significance condition of the 2010 open source information model and 2.5% at 1% significance level.It shows that the information diffusion mode under Web2.0 do have some influence on the pricing of assets,andit has a more significant impact than Web1.0on the pricing of assets,and opens up a new research direction of asset pricing under the background of Internet. |
