本文關(guān)鍵詞：南北車重組前后央企股票網(wǎng)絡(luò)的相關(guān)研究　出處：《江蘇大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 央企股票 復(fù)雜網(wǎng)絡(luò) 逼近理想點(diǎn)排序法 拓?fù)浣Y(jié)構(gòu) 社團(tuán)結(jié)構(gòu)

【摘要】：央企是國(guó)民經(jīng)濟(jì)的中堅(jiān)力量,推動(dòng)社會(huì)經(jīng)濟(jì)發(fā)展的引擎。改革開(kāi)放以來(lái),中國(guó)經(jīng)濟(jì)得到飛速發(fā)展,但是央企的發(fā)展卻并不順利。為了改變這一現(xiàn)狀,政府決心對(duì)央企實(shí)施重組,然而在實(shí)際重組過(guò)程中卻存在許多問(wèn)題,國(guó)家希望通過(guò)企業(yè)間的強(qiáng)強(qiáng)聯(lián)合,將企業(yè)做大做強(qiáng),而重組后卻福禍未知。因此,對(duì)央企重組問(wèn)題進(jìn)行研究具有十分重要的現(xiàn)實(shí)意義。論文以2009-2016年102只央企股票的每日收盤價(jià)為研究對(duì)象,以中國(guó)南車集團(tuán)公司和中國(guó)北車集團(tuán)公司重組的時(shí)間為分界點(diǎn),將數(shù)據(jù)分為重組前后兩個(gè)時(shí)間段,進(jìn)而從復(fù)雜網(wǎng)絡(luò)理論的角度出發(fā),對(duì)重組前后股票關(guān)聯(lián)網(wǎng)絡(luò)的結(jié)構(gòu)特征進(jìn)行對(duì)比分析。論文主要內(nèi)容如下:首先,基于對(duì)數(shù)收益率計(jì)算出兩個(gè)時(shí)段內(nèi)股票間的相關(guān)系數(shù),結(jié)合上市央企的財(cái)務(wù)指標(biāo),利用逼近理想點(diǎn)排序法衡量股票節(jié)點(diǎn)之間的影響力,并以此為權(quán)重,運(yùn)用閾值法構(gòu)建加權(quán)有向股票關(guān)聯(lián)網(wǎng)絡(luò)。接著運(yùn)用貪婪算法尋找網(wǎng)絡(luò)中的社團(tuán)結(jié)構(gòu)。結(jié)果表明,重組前后兩個(gè)時(shí)期的股票關(guān)聯(lián)網(wǎng)絡(luò)結(jié)構(gòu)發(fā)生了明顯的變化,進(jìn)行重組的央企在網(wǎng)絡(luò)中的影響力比重組之前有所增大。其次,對(duì)重組前后兩個(gè)時(shí)期股票關(guān)聯(lián)網(wǎng)絡(luò)的拓?fù)浣Y(jié)構(gòu)特性進(jìn)行對(duì)比分析,接著利用K核循環(huán)因子法對(duì)重組前后兩個(gè)時(shí)期內(nèi)股票關(guān)聯(lián)網(wǎng)絡(luò)中的節(jié)點(diǎn)進(jìn)行排序,進(jìn)而探索節(jié)點(diǎn)的影響力大小,并對(duì)股票價(jià)格異常波動(dòng)下的央企股票關(guān)聯(lián)網(wǎng)絡(luò)的穩(wěn)定性進(jìn)行分析。結(jié)果表明,與重組央企存在上下游產(chǎn)業(yè)鏈關(guān)系的股票節(jié)點(diǎn)的重要性有所提高,在網(wǎng)絡(luò)受到攻擊的情況下,重組前后的股票網(wǎng)絡(luò)表現(xiàn)出不同的特點(diǎn)。綜上,論文并未效仿大部分學(xué)者,單獨(dú)分析重組央企本身的發(fā)展?fàn)顩r,而是將重組的央企放到由眾多上市央企組成的股票網(wǎng)絡(luò)中,運(yùn)用復(fù)雜網(wǎng)絡(luò)理論對(duì)該股票網(wǎng)絡(luò)進(jìn)行探究分析。
[Abstract]:The central enterprise is the backbone of the national economy and the engine of promoting the social and economic development. Since the reform and opening up, China's economy has developed rapidly, but the development of the central enterprises is not smooth. In order to change this situation, the government is determined to reorganize the central enterprises. However, there are many problems in the actual reorganization process. The state hopes to make the enterprises bigger and stronger through the strong combination among enterprises, but after the reorganization, it will be unknown. Therefore, it is of great practical significance to study the restructuring of the central enterprises. Based on the daily closing price of 2009-2016 102 central enterprises stock as the research object, to Chinese CSR Corporation and Chinese Beiche Group company reorganization time as the cut-off point, the data will be divided into two periods before and after the reorganization, and then from the complex network theory, the structural characteristics of the heavy group before and after the stock correlation network the comparative analysis. The main contents of this paper are as follows: firstly, the logarithmic rate of return correlation coefficient to calculate stock two periods on the basis of the combination of financial indicators of listed central enterprises, using TOPSIS ranking method to measure the stock between nodes influence, and as the weight weighted network to construct stock correlation using threshold method. Then the greedy algorithm is used to find the community structure in the network. The results show that the structure of the stock related network has changed significantly in the two periods before and after the reorganization, and the influence of the restructured central enterprises in the network has increased. Secondly, the comparative analysis of the topology characteristics of recombinant two periods before and after the stock correlation network, then sort the node stock correlation network before and after the reorganization in two periods in the nuclear cycle using K factor method, and then explore the influence of node size, and the stability of the central enterprises stock correlation network of abnormal fluctuation of stock price under the analysis. The results show that the importance of stock nodes with upstream and downstream industry chain relationship is improved. Under the circumstances of network attack, the stock network before and after restructuring shows different characteristics. In summary, the paper did not imitate most scholars, and analyzed the development of restructured central enterprises independently. Instead, it put the restructured central enterprises into a stock network composed of many listed central enterprises, and applied complex network theory to explore and analyze the stock network.
【學(xué)位授予單位】：江蘇大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F426.472;F271;F832.51

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