题目：A flight-to-safety from bitcoin to stock markets: Evidence from cyber attacks
时间：11月12日 19:00-21:00（周五）
地点：腾讯会议 ID：317 776 158
报告人：姜春霞 副教授

讲座内容：

We discover a novel flight-to-safety effect from cryptocurrency markets to stock markets. It occurs after a series of hacking attacks on crypto exchanges as greater uncertainty heightens investors' risk awareness and perception, which, in turn, induces herd-like behaviour in favor of safer stock markets over riskier cryptocurrency markets. We extensively examine this effect worldwide across 39 countries and confirm this novelty.This effect is amplified when investors' risk awareness is strengthened by frequent attacks. Intriguingly, the sentiment elicited from the attacks discussed on social media not only serves as a timely warning indicator for the forthcoming attack events, but also measures the flight-to-safety pressure after attack events. We conclude that the collapse of investors' confidence is the primary cause of such an effect. Through the lens of cyber attacks, we document how a shock in crypto markets is transmitted into stock markets through investors' flight-to-safety behavior.

姜春霞：女，留英经济学博士,现任英国阿伯丁大学商学院（University of Aberdeen，Business School）金融学高级讲师（副教授），博士导师。 美国Fordham 大学商学院伦敦中心客座副教授。应邀到重庆大学、西安交通大学等交流讲学。主讲银行学理论与实践、银行业的金融风险管理、金融市场与监管、国际金融、和计量经济学。

姜春霞博士2010年还获得英国特许会计师ACCA (Association of Chartered Certified Accountants) 和英国高等教育资格证书PGCert HE (Postgraduate certificate in Higher Education)。姜博士从2003年开始从事银行效率、竞争、金融稳定性、发展中国家银行业改革的研究，并一直关注中国银行业的改革。近年来，研究拓展到科技金融、加密货币、众筹等前沿领域，著有(英文版)学术专著《中国银行业改革》， 并在在《经济研究》、International Review of Financial Analysis (SSCI)、Energy Economics (SSCI)， Journal of Banking and Finance (SSCI) 、Journal of Financial Stability (SSCI)、 Transportation Research Part A (SSCI)等国内外权威期刊发表多篇高质量论文，经常参加国际论文讨论会，并参与国际学术杂志的评审工作。她曾共同参与或主持多项由欧盟、英国政府、以及中国国家自科基金资助的科研项目。并于2014年应邀到芬兰央行进行访问研究。