The Relationship Between Equity And Housing Premium With Intermediary Risk Appetite

The2008financial crisis has had a profound impact on the global economy. Aprominent feature of the crisis is the financial intermediaries play an important rolein the crisis. After the crisis, risk appetite of the financial Intermediaries duringEconomic stability period and in crisis was researched, they found that there is somerelationship between financial intermediary risk appetite and asset risk premium.But no one study domestic situation. So this paper researched the relationshipbetween financial intermediaries risk appetite, equity premium, and economicgrowth on the basis of previous studies.This paper tacked total asset growth rate and equity multiplier as the financialintermediaries risk appetite, collected the financial data of Securities Company fromthe first quarter of2001to2012in the third quarter. The paper analyzed the datawith VAR model, and found there are closely connection between financialintermediaries risk appetite, equity premium, and real GDP growth rate. That’smeans when equity premium is higher, the risk appetite of financial intermediarywill actively, and the real GDP growth is faster.