Research On Risk Measurement And Prevention Countermeasures Of Internet Money Funds In China

In recent years,in the context of the benign interaction between the real economy and finance,Internet finance has also developed rapidly,among which,Internet money fund-type financial products began to enter the view of the general public frequently with the big sale of Balance Bao,and the products exemplified by Balance Bao were sought by most people for their relatively high returns,relatively flexible output methods and low risks,and became popular for a while.However,due to a combination of factors,the yields of such financial products have been declining since 2014,causing both investor dissatisfaction and concerns about the various risks they have exposed and may expose.Many scholars point out that the development of Internet fund-type financial products may produce huge spillover effects with the multiple superposition of risk potential,in other words,such financial products not only affect investors but also may have a non-negligible impact on other market players,based on this,in order to protect the healthy development of China’s economy and avoid the occurrence of systemic financial risks,the construction of a scientific risk model to measure In order to ensure the healthy development of China’s economy and avoid systemic financial risks,it is urgent to construct a scientific risk model to measure the risks of Internet money funds and explore risk prevention measures on this basis.Firstly,this paper analyzes the characteristics and advantages of Internet money funds,their operation mechanism and development status from the basic level,and summarizes the risks from the qualitative perspective.Second,from a quantitative perspective,this paper constructs a risk model to assess the risk of Internet money fund-type financial products.Concretely,the author selects the most representative 12 of the three types of Internet money funds and uses them to build a GARCH-type-Va R model to measure their risk,fits these 12 funds under different distributions and compares the fitting results to determine the optimal model,which is used to The optimal model is determined and used to lay the model foundation for estimating Va R values later.Again,based on the calculated return-risk,the factors influencing the risk of Internet money funds are analyzed.Finally,based on the results of this paper,several suggestions for risk prevention from the regulatory level are proposed from the actual situation in China.The following conclusions are mainly drawn,in the current context,there are many potential risks of Internet money funds in China,and to measure the risk values more accurately,a GARCH-Va R model should be chosen to be fitted under the GED distribution,and due to the differences between individual funds,their applicable models are different,so it is especially important to choose a risk measurement model that meets the characteristics of their own platforms;meanwhile,the derived The Va R value shows that the risk of different products varies greatly,and the risk of each product has a certain volatility,therefore,the estimation of the risk of such products can provide a basis for investors’ investment decisions,and also conclude that real-time regulation should be implemented;in addition,China’s current relevant laws and regulations and policies are not sufficient,and there are still many aspects that need to be strengthened,under such circumstances In addition,fund companies should make corresponding efforts to improve their own risk prevention capabilities.With the rapid development of China’s Internet money funds,there is still a long way to go in terms of risk prevention,and only through continuous exploration and discovery can we find ways to promote the stable and sustainable development of the economy.