Webinar Series

 

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Digital Transmission of Financial Knowledge: Evidence from Stock Market Investment

This paper examines the impact of a digital platform’s transmission of financial knowledge on users’ stock market participation and investment performance. Leveraging a Chinese platform’s randomly distributed prompts as an instrument, the authors demonstrate that access to financial information increases stock investment, enhances portfolio diversification, and improves risk-adjusted returns, even among older, less educated, and less affluent users. Although initial responses to the prompts are modest, sustained exposure overcomes inertia and drives considerable engagement. Digitalization thus holds promises for democratizing finance by providing scalable, low-cost financial education that helps individuals make more informed investment decisions.

16
Oct
2025
Thursday

Session Chair: Xiaoyan ZHANG
Xinyuan Chair Professor of Finance, Associate Dean, PBC School of Finance, Tsinghua University and ABFER

10:00 am
Digital Transmission of Financial Knowledge: Evidence from Stock Market Investment

Bernard YEUNG, Chair Professor, Southern University of Science and Technology; Emeritus Professor, NUS Business School, National University of Singapore and Emeritus President, ABFER

Co-authors:
Xiaomin GUO, PhD Fellow, SUSTech Business School, Southern University of Science and Technology
Yi HUANG, Special Adviser, Bank for International Settlements and Fellow, ABFER
Qi SUN, Associate Professor of Marketing, College of Business, Shanghai University of Finance and Economics
10:25 am
Discussion
Discussant:
Alberto ROSSI, Hachigian Family Professor of Finance at the McDonough School of Business, Georgetown University
10:50 am
Q&A
11:10 am

Updated 1 Oct 2025

Session Format

Each session lasts for 1 hour 10 minutes (25 minutes for the author, 25 minutes for the discussant and 20 minutes for participants' Q&A). Sessions will be recorded and posted on ABFER website, except in cases where speakers or discussants request us not to.

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