TITLE:
Analysis of Stock-Shareholder Associated Network Based on Complex Network
AUTHORS:
Haopeng Tong, Zhen Jia, Min Zhang, Jinzhi Qi
KEYWORDS:
Bipartite Network, Single-Mode Projection, Stock Correlation Network
JOURNAL NAME:
Journal of Mathematical Finance,
Vol.11 No.1,
February
26,
2021
ABSTRACT: From the perspective of equity holdings, this article selects the stock and equity data related to the financial sector in the Shanghai and Shenzhen securities markets in China, uses the bipartite network model to construct stock-shareholders associated network and performs a single-mode projection on the network to obtain the stock correlation network, further study the structure and financial nature of the network. The study found that in the stock-shareholders associated networks, minority shareholders hold a large number of stocks, which on the one hand illustrates the investment direction of major shareholders, and has become a vein for retail shareholders to invest in stocks; on the other hand, it is confirmed that the long-term and large-scale holding of major shareholders can stabilize the financial market to a certain extent. The weight and degree distribution of the stock correlation network are non-uniform, and many of the state-owned banks have higher weight values, which reflects the close relationship between state-owned banks. Finally, the shareholder’s holding behavior reflects that their identification with financial stocks in the A-share market tends to be consistent.