文献类型：期刊文献

英文题名：Stock Network Stability After Crashes Based on Entropy Method

作者：Yang, Ming-Yuan[1,2];Ren, Fei[1,3,4];Li, Sai-Ping[5]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai, Peoples R China;[2]Zhejiang Univ Finance & Econ, China Acad Financial Res, Hangzhou, Peoples R China;[3]East China Univ Sci & Technol, Sch Sci, Shanghai, Peoples R China;[4]East China Univ Sci & Technol, Res Ctr Econophys, Shanghai, Peoples R China;[5]Acad Sinica, Inst Phys, Taipei, Taiwan

年份：2020

卷号：8

外文期刊名：FRONTIERS IN PHYSICS

收录：;EI(收录号：20233514652446);WOS:【SCI-EXPANDED(收录号:WOS:000543860600001)】；

基金：This work was partially supported by the National Natural Science Foundation of China (grant nos. 71532009, 71790594, and 71871094), the Humanities and Social Sciences Fund sponsored by Ministry of Education of the People's Republic of China (grant no. 17YJAZH067), and the Fundamental Research Funds for the Central Universities (2015).

语种：英文

外文关键词：stock network; crashes; rescue policies; network stability; entropy; econophysics

摘要：This paper studies the stability of stock networks after crashes based on the entropy method. By measuring network stability using the entropy calculated with the degree distribution, we find that the entropy of a stock network is close to that of the Erdos-Renyi and Watts-Strogatz networks. We further introduce government rescue policies as a natural experiment and use the entropy measurement to study the influence of rescue policies after crashes on the network stability, finding that rescue policies only have short-term effects. Analysis of the relation between stock degrees and government purchasing behavior further confirms the effects of rescue policies on stock network stability.