Study on the Stability of Complex Networks in the Stock Markets of Key Industries in China DOI Creative Commons

Zinuoqi Wang,

Guofeng Zhang,

Xiaojing Ma

et al.

Entropy, Journal Year: 2024, Volume and Issue: 26(7), P. 569 - 569

Published: June 30, 2024

Investigating the significant "roles" within financial complex networks and their stability is of great importance for preventing risks. On one hand, this paper initially constructs a network model stock market based on mutual information theory threshold methods, combined with closing price returns stocks. It then analyzes basic topological characteristics examines its under random targeted attacks by varying values. other using systemic risk entropy as metric to quantify market, validates impact COVID-19 pandemic widespread, unexpected event stability. The research results indicate that exhibits small-world but cannot be strictly classified scale-free network. In network, key roles are played industrial sector, media services, pharmaceuticals healthcare, transportation, utilities. Upon reducing threshold, network's resilience correspondingly strengthened. Dynamically, from 2000 2022, in share markets significantly increased. From static perspective, period around 2019, affected pandemic, experienced most drastic fluctuations. Compared year 2000, 2022 increased nearly sixtyfold, further indicating an increasing instability

Language: Английский

Fractional Transfer Entropy Networks: Short- and Long-Memory Perspectives on Global Stock Market Interactions DOI Creative Commons
Ömer Akgüller, Mehmet Ali Balcı, Larissa M. Batrancea

et al.

Fractal and Fractional, Journal Year: 2025, Volume and Issue: 9(2), P. 69 - 69

Published: Jan. 23, 2025

This study addresses the challenge of capturing both short-run volatility and long-run dependencies in global stock markets by introducing fractional transfer entropy (FTE), a new framework that embeds calculus into entropy. FTE allows analysts to tune memory parameters thus observe how different temporal emphases reshape network directional information flows among major financial indices. Empirical evidence reveals when short-memory effects dominate, swiftly incorporate recent news, creating networks adapt quickly but remain vulnerable transient shocks. In contrast, balanced yield more stable equilibrium, blending immediate reactions with persistent structural ties. Under long-memory configurations, historically entrenched relationships prevail, enabling established market leaders central despite ongoing fluctuations. These findings demonstrate uncovers nuanced dynamics overlooked methods focusing solely on either current events or deep-rooted patterns. Although method relies price returns does not differentiate specific shock types, it offers versatile tool for investors, policymakers, researchers gauge stability, evaluate contagion risk, better understand ephemeral signals historical legacies jointly govern connectivity.

Language: Английский

Citations

0
The Impact of Corporate ESG Performance on Regional Energy Efficiency in China from the Perspective of Green Development DOI Open Access
Linan Wang, Richard Li, Ruoyun Zhao

et al.

Sustainability, Journal Year: 2025, Volume and Issue: 17(6), P. 2465 - 2465

Published: March 11, 2025

In the context of pursuing green and low-carbon transformation, exploring how to improve regional energy efficiency in China is significant. This paper takes Chinese A-share listed companies Shanghai Shenzhen from 2009 2023 as research object empirically test relationship between corporate ESG performance efficiency. The results show that enterprises has significantly improved China. A mechanism analysis reveals practices help alleviate financing constraints, reduce agency costs, enhance information transparency, promoting

Language: Английский

Citations

0
How does the volatility of ESG stock indices spillover in times of high geopolitical risk? New insights from emerging and developed markets DOI Creative Commons
Renata Karkowska, Szczepan Urjasz

Journal of Sustainable Finance & Investment, Journal Year: 2025, Volume and Issue: unknown, P. 1 - 47

Published: April 10, 2025

Language: Английский

Citations

0
Tail Risk Spillover Between Global Stock Markets Based on Effective Rényi Transfer Entropy and Wavelet Analysis DOI Creative Commons

Jingjing Jia

Entropy, Journal Year: 2025, Volume and Issue: 27(5), P. 523 - 523

Published: May 14, 2025

To examine the spillover of tail-risk information across global stock markets, we select nine major markets for period spanning from June 2014 to May 2024 as sample data. First, employ effective Rényi transfer entropy measure spillover. Second, construct a Diebold–Yilmaz connectedness table explore overall characteristics markets. Third, integrate wavelet analysis with assess multi-scale Our findings lead several key conclusions: (1) US and European are primary sources spillover, while Asian predominantly act net receivers; (2) intensity is most pronounced between at medium-high trading frequency, frequency decreases, becomes more complex; (3) all frequencies, market emerges influential, Japanese vulnerable. China’s market, in contrast, demonstrates relative independence.

Language: Английский

Citations

0
Study on the Stability of Complex Networks in the Stock Markets of Key Industries in China DOI Creative Commons

Zinuoqi Wang,

Guofeng Zhang,

Xiaojing Ma

et al.

Entropy, Journal Year: 2024, Volume and Issue: 26(7), P. 569 - 569

Published: June 30, 2024

Investigating the significant "roles" within financial complex networks and their stability is of great importance for preventing risks. On one hand, this paper initially constructs a network model stock market based on mutual information theory threshold methods, combined with closing price returns stocks. It then analyzes basic topological characteristics examines its under random targeted attacks by varying values. other using systemic risk entropy as metric to quantify market, validates impact COVID-19 pandemic widespread, unexpected event stability. The research results indicate that exhibits small-world but cannot be strictly classified scale-free network. In network, key roles are played industrial sector, media services, pharmaceuticals healthcare, transportation, utilities. Upon reducing threshold, network's resilience correspondingly strengthened. Dynamically, from 2000 2022, in share markets significantly increased. From static perspective, period around 2019, affected pandemic, experienced most drastic fluctuations. Compared year 2000, 2022 increased nearly sixtyfold, further indicating an increasing instability

Language: Английский

Citations

2