Digital Social Assets: Identification, Valuation, and Pricing-Evidence from KOL Transaction Market in China

The social behavior of individuals or organizations will form social capital. Social behavior based on the internet forms digital social capital. This paper focuses on the identification, measurement, and pricing of digital social capital, which will contribute to the current research of social capital. We constructed a pricing model of digital social capital and conducted an empirical analysis based on the KOL exchange data. The main factors that affect social capital value are social behavior efficiency and recent social behavior efficiency. However, the link width (especially the number of followers) of social capital has no significant effect on pricing.