IDEAS home Printed from https://ideas.repec.org/a/spr/elcore/v25y2025i2d10.1007_s10660-023-09694-5.html
   My bibliography  Save this article

The impact of chinese big tech on the traditional financial market: evidence from Ant Group

Author

Listed:
  • Chen Zhu

    (Nanjing University of Finance and Economics)

  • Jiaxin Chu

    (Nanjing University of Finance and Economics
    Tsinghua University)

Abstract

Based on the actual situation of Chinese financial market, we logically deduce the risk spillover from Big Tech’s financial business to the traditional financial market. We combined the data of Ant Group to empirically analyze the impact of Chinese Big Tech’s financial business on the profitability of the traditional financial market. The results show that Chinese Big Tech’s financial business has an impact on the traditional financial market, but the degree is different. It has a greater impact on the stock and trust markets, followed by insurance and funds, and less on the banking industry. Secondly, impacts have significant time-varying characteristics and have both immediate and long-term effects. The impulse response in banking, insurance and trust markets fluctuated, while equity and fund markets continued to decline. The short-term volatility of each market is mostly positive, but the medium and long-term volatility is negative. Thirdly, the impacts at each major point are significantly different and heterogeneous. The decline of Ant Group’s ABS issuing scale has a greater impact on the banking and trust markets, while its listing turmoil has a greater impact on the stock and fund markets.

Suggested Citation

  • Chen Zhu & Jiaxin Chu, 2025. "The impact of chinese big tech on the traditional financial market: evidence from Ant Group," Electronic Commerce Research, Springer, vol. 25(2), pages 879-905, April.
    • Handle: RePEc:spr:elcore:v:25:y:2025:i:2:d:10.1007_s10660-023-09694-5
    DOI: 10.1007/s10660-023-09694-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10660-023-09694-5
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10660-023-09694-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Ant Group; Big tech; Risk spillover effect; TVP-SVAR-SV;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:elcore:v:25:y:2025:i:2:d:10.1007_s10660-023-09694-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.