dorsal/arxiv
View SchemaChange of ownership networks in Japan
| Authors | Wataru Souma, Yoshi Fujiwara, Hideaki Aoyama |
|---|---|
| Categories | |
| ArXiv ID | physics/0504045 |
| URL | https://arxiv.org/abs/physics/0504045 |
Abstract
As complex networks in economics, we consider Japanese shareholding networks as they existed in 1985, 1990, 1995, 2000, 2002, and 2003. In this study, we use as data lists of shareholders for companies listed on the stock market or on the over-the-counter market. The lengths of the shareholder lists vary with the companies, and we use lists for the top 20 shareholders. We represent these shareholding networks as a directed graph by drawing arrows from shareholders to stock corporations. Consequently, the distribution of incoming edges has an upper bound, while that of outgoing edges has no bound. This representation shows that for all years the distributions of outgoing degrees can be well explained by the power law function with an exponential tail. The exponent depends on the year and the country, while the power law shape is maintained universally. We show that the exponent strongly correlates with the long-term shareholding rate and the cross-shareholding rate.
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"abstract": "As complex networks in economics, we consider Japanese shareholding networks\nas they existed in 1985, 1990, 1995, 2000, 2002, and 2003. In this study, we\nuse as data lists of shareholders for companies listed on the stock market or\non the over-the-counter market. The lengths of the shareholder lists vary with\nthe companies, and we use lists for the top 20 shareholders. We represent these\nshareholding networks as a directed graph by drawing arrows from shareholders\nto stock corporations. Consequently, the distribution of incoming edges has an\nupper bound, while that of outgoing edges has no bound. This representation\nshows that for all years the distributions of outgoing degrees can be well\nexplained by the power law function with an exponential tail. The exponent\ndepends on the year and the country, while the power law shape is maintained\nuniversally. We show that the exponent strongly correlates with the long-term\nshareholding rate and the cross-shareholding rate.",
"arxiv_id": "physics/0504045",
"authors": [
"Wataru Souma",
"Yoshi Fujiwara",
"Hideaki Aoyama"
],
"categories": [
"physics.soc-ph"
],
"title": "Change of ownership networks in Japan",
"url": "https://arxiv.org/abs/physics/0504045"
},
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