Related papers: Shareholding Networks in Japan
Following the work of Okuyama, Takayasu and Takayasu [Okuyama, Takayasu and Takayasu 1999] we analyze huge databases of Japanese companies' financial figures and confirm that the Zipf's law, a power law distribution with the exponent -1,…
Employing profits data of Japanese companies in 2002 and 2003, we identify the non-Gibrat's law which holds in the middle profits region. From the law of detailed balance in all regions, Gibrat's law in the high region and the non-Gibrat's…
A model for directed networks is proposed and power laws for their in-degree and/or out-degree distributions are derived from the model. It is based on the Barabasi-Albert model and contains two parameters. The parameters serve as…
We study network growth from a fixed set of initially isolated nodes placed at random on the surface of a sphere. The growth mechanism we use adds edges to the network depending on strictly local gain and cost criteria. Only nodes that are…
We statistically investigate the distribution of share price and the distributions of three common financial indicators using data from approximately 8,000 companies publicly listed worldwide for the period 2004-2013. We find that the…
A large number of complex networks, both natural and artificial, share the presence of highly heterogeneous, scale-free degree distributions. A few mechanisms for the emergence of such patterns have been suggested, optimization not being…
We use rank correlations as distance functions to establish the interconnectivity between stock returns, building weighted signed networks for the stocks of seven European countries, the US and Japan. We establish the theoretical…
We have conducted an agent-based simulation of chain bankruptcy. The propagation of credit risk on a network, i.e., chain bankruptcy, is the key to nderstanding largesized bankruptcies. In our model, decrease of revenue by the loss of…
The degree distribution, referred to as the delta-sequence of a network is studied. Using the non-normalized Lorenz curve, we apply a generalized form of the classical majorization partial order. Next, we introduce a new class of small…
This study presents a method to predict the growth fluctuation of firms interdependent in a network economy. The risk of downward growth fluctuation of firms is calculated from the statistics on Japanese industry.
Some statistical properties of a network of two-Chinese-character compound words in Japanese language are reported. In this network, a node represents a Chinese character and an edge represents a two-Chinese-character compound word. It is…
Understanding the subgraph distribution in random networks is important for modelling complex systems. In classic Erdos networks, which exhibit a Poissonian degree distribution, the number of appearances of a subgraph G with n nodes and g…
A central claim in modern network science is that real-world networks are typically "scale free," meaning that the fraction of nodes with degree $k$ follows a power law, decaying like $k^{-\alpha}$, often with $2 < \alpha < 3$. However,…
Financial networks are typically estimated by applying standard time series analyses to price-based economic variables collected at low-frequency (e.g., daily or monthly stock returns or realized volatility). These networks are used for…
We study partition of networks into basins of attraction based on a steepest ascent search for the node of highest degree. Each node is associated with, or "attracted" to its neighbor of maximal degree, as long as the degree is increasing.…
Our ability to control a whole network can be achieved via a small set of driver nodes. While the minimum number of driver nodes needed for control is fixed in a given network, there are multiple choices for the driver node set. A quantity…
We investigate the effectiveness of a momentum trading signal based on the coverage network of financial analysts. This signal builds on the key information-brokerage role financial sell-side analysts play in modern stock markets. The…
During a financial crisis, the capital markets network frequently exhibits a high correlation between returns. We developed a network analysis framework based on daily returns from 42 countries to determine systemic stability. Our network…
We study the growth of bipartite networks in which the number of nodes in one of the partitions is kept fixed while the other partition is allowed to grow. We study random and preferential attachment as well as combination of both. We…
In this work, we develop the Tsallis entropy approach for examining the cross-shareholding network of companies traded on the Italian stock market. In such a network, the nodes represent the companies, and the links represent the ownership.…