講座題目：Mutual Risk Sharing and Fintech: The Case of Xiang Hu Bao
主講嘉賓：虞彤
特邀主持人：沈建成
時間：2024年6月17日（星期一）上午10:00—12:00
地點：商學院116東方廳
歡迎感興趣的師生參加聆聽！
江南大學商學院
2024年6月12日
主講嘉賓簡介
虞彤，美國辛辛那提大學Lindner商學院Vigil M. Schwarm金融學教授。研究領域：資産定價，機構投資，風險管理和金融科技。虞彤教授的研究成果發表在Journal of Financial Economics, Management Science, Journal of Accounting Research, Journal of Financial Intermediation, Review of Asset Pricing Studies, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Risk and Insurance等刊物，他于2011年獲得美國風險和保險協會授予的Early Career Distinguished Scholarly Achievement Award，2022年獲得美國辛辛那提大學Lindner商學院研究生傑出教學獎，虞彤教授于2015年作為主要發起人之一成立了中國國際風險論壇(China International Risk Forum)和Modern Risk Society。他同時是China Finance Review International, Financial Management, Financial Review, and Journal of Financial Counseling and Planning等刊物的副主編。
特邀主持人簡介
沈建成，蘇州大學商學院金融系特聘教授，博士生導師，瑞士蘇黎世大學訪問教授。曾分别在美國Regent University, Taylor University擔任金融教職。研究領域為實證行為金融，理論資産定價，人工智能大數據，神經實驗經濟學。近年來發表了 20多篇國際高水平期刊論文，諸如 Computer Networks, Journal of Banking and Finance，Journal of Financial Research, Journal of Futures Market等。
講座主要内容
Unlike insurance transferring risks, mutual risk sharing shares losses among participants. Meaning ‘mutual aid’ in Chinese, Xiang Hu Bao (XHB) was the largest online mutual risk sharing platform operated by Alibaba’s Ant Financial to facilitate risk sharing of critical illness exposures. XHB provided restricted coverage to participants, aged individuals particularly, potentially leading to separating equilibrium, à la Rothschild-Stiglitz, where low-risk individuals join mutual aid programs while high-risk individuals purchase insurance. Using XHB’s enrollment and claim data, our analysis corroborates this argument and justifies the role of Fintech and advantageous selection in explaining cost advantages of mutual risk sharing.
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