Emergence of world-stock-market network

DC FieldValueLanguage
dc.contributor.authorSaeedian, M.-
dc.contributor.authorJamali, T.-
dc.contributor.authorKamali, M. Z.-
dc.contributor.authorBayani, H.-
dc.contributor.authorYasseri, Taha-
dc.contributor.authoret al.-
dc.date.accessioned2022-01-11T13:02:15Z-
dc.date.available2022-01-11T13:02:15Z-
dc.date.copyright2019 Crown Copyrighten_US
dc.date.issued2019-07-15-
dc.identifier.citationPhysica A: Statistical Mechanics and its Applicationsen_US
dc.identifier.issn0378-4371-
dc.identifier.urihttp://hdl.handle.net/10197/12716-
dc.description.abstractForty stock market indices of the world with the highest GDP has been studied. We show each market is a part of a global structure, that we call “world-stock-market network”. Where the correlation between two markets is not independent of the correlation between two other markets. Towards this end, we analyze the cross-correlation matrix of the indices of these forty markets using Random Matrix Theory (RMT). We find the degree of collective behavior among the markets and the share of each market in the world global network. This finding together with the results obtained from the same calculation on four stock markets reinforces the idea of a world financial market. Finally, we draw the dendrogram of the cross-correlation matrix to make communities in this abstract global market visible. The results show that the world financial market comprises three communities each of which includes stock markets with geographical proximity.en_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.rightsThis is the author’s version of a work that was accepted for publication in Physica A: Statistical Mechanics and its Applications. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Physica A: Statistical Mechanics and its Applications (526, Article Number: 120792 (2019)) https://doi.org/10.1016/j.physa.2019.04.028en_US
dc.subjectStock marketsen_US
dc.subjectNetworksen_US
dc.subjectRandom matrix theoryen_US
dc.subjectStatistical theoryen_US
dc.subjectEmerging marketen_US
dc.subjectEnergy levelsen_US
dc.titleEmergence of world-stock-market networken_US
dc.typeJournal Articleen_US
dc.internal.authorcontactothertaha.yasseri@ucd.ieen_US
dc.statusPeer revieweden_US
dc.identifier.volume526en_US
dc.citation.otherArticle Number: 120792en_US
dc.identifier.doi10.1016/j.physa.2019.04.028-
dc.neeo.contributorSaeedian|M.|aut|-
dc.neeo.contributorJamali|T.|aut|-
dc.neeo.contributorKamali|M. Z.|aut|-
dc.neeo.contributorBayani|H.|aut|-
dc.neeo.contributorYasseri|Taha|aut|-
dc.neeo.contributoret al.||aut|-
dc.description.othersponsorshipCognitive Science and Technologies Councilen_US
dc.date.updated2021-12-02T18:39:40Z-
dc.rights.licensehttps://creativecommons.org/licenses/by-nc-nd/3.0/ie/en_US
item.fulltextWith Fulltext-
item.grantfulltextopen-
Appears in Collections:Sociology Research Collection
Geary Institute Research Collection
Files in This Item:
 File SizeFormat
Download1703.08781.pdf155.54 kBAdobe PDF
Show simple item record

Page view(s)

150
Last Week
2
Last month
14
checked on May 16, 2022

Download(s)

12
checked on May 16, 2022

Google ScholarTM

Check

Altmetric


If you are a publisher or author and have copyright concerns for any item, please email research.repository@ucd.ie and the item will be withdrawn immediately. The author or person responsible for depositing the article will be contacted within one business day.