{"id":"https://openalex.org/W3138391007","doi":"https://doi.org/10.1111/acfi.12775","title":"Risk contagion of global stock markets under COVID\u201019:A network connectedness method","display_name":"Risk contagion of global stock markets under COVID\u201019:A network connectedness method","publication_year":2021,"publication_date":"2021-03-21","ids":{"openalex":"https://openalex.org/W3138391007","doi":"https://doi.org/10.1111/acfi.12775","mag":"3138391007"},"language":"en","primary_location":{"id":"doi:10.1111/acfi.12775","doi":"https://doi.org/10.1111/acfi.12775","is_oa":true,"landing_page_url":"https://doi.org/10.1111/acfi.12775","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.12775","source":{"id":"https://openalex.org/S4210171597","display_name":"Accounting and Finance","issn_l":"0810-5391","issn":["0810-5391","1467-629X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.12775","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5100643773","display_name":"Honghai Yu","orcid":"https://orcid.org/0000-0002-9105-6768","observed_orcids":["https://orcid.org/0000-0002-9105-6768"]},"institutions":[{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Honghai Yu","raw_affiliation_strings":["School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5050412272","display_name":"Wangyu Chu","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Wangyu Chu","raw_affiliation_strings":["School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5030252626","display_name":"Yu\u2019ang Ding","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yu\u2019ang Ding","raw_affiliation_strings":["School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China","institution_ids":["https://openalex.org/I881766915"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101545454","display_name":"Xuezhou Zhao","orcid":"https://orcid.org/0000-0002-9433-8015","observed_orcids":["https://orcid.org/0000-0002-9433-8015"]},"institutions":[{"id":"https://openalex.org/I881766915","display_name":"Nanjing University","ror":"https://ror.org/01rxvg760","country_code":"CN","type":"education","lineage":["https://openalex.org/I881766915"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Xuezhou Zhao","raw_affiliation_strings":["School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China"],"raw_orcid":"https://orcid.org/0000-0002-9433-8015","affiliations":[{"raw_affiliation_string":"School of Management and Engineering, Nanjing University, Nanjing, Jiangsu, China","institution_ids":["https://openalex.org/I881766915"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5101545454"],"corresponding_institution_ids":["https://openalex.org/I881766915"],"apc_list":{"value":3000,"currency":"USD","value_usd":3000},"apc_paid":null,"fwci":7.2557,"has_fulltext":false,"cited_by_count":39,"citation_normalized_percentile":{"value":0.97290487,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"61","issue":"4","first_page":"5745","last_page":"5782"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.7865999937057495,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.7865999937057495,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11711","display_name":"COVID-19 Pandemic Impacts","score":0.1281999945640564,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.07720000296831131,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/contagion-risk","display_name":"risk contagion","score":0.9129999876022339},{"id":"https://openalex.org/keywords/international-stock-markets","display_name":"international stock markets","score":0.9470000267028809},{"id":"https://openalex.org/keywords/covid-19","display_name":"COVID-19 pandemic","score":0.9950000047683716},{"id":"https://openalex.org/keywords/network-connectivity","display_name":"network connectivity","score":0.8619999885559082},{"id":"https://openalex.org/keywords/frequency-analysis","display_name":"frequency analysis","score":0.4650000035762787},{"id":"https://openalex.org/keywords/low-frequency-components","display_name":"low-frequency components","score":0.5929999947547913},{"id":"https://openalex.org/keywords/supply-chain-risk","display_name":"supply chain risk","score":0.5149999856948853},{"id":"https://openalex.org/keywords/investor-expectations","display_name":"investor expectations","score":0.8889999985694885},{"id":"https://openalex.org/keywords/united-kingdom","display_name":"United Kingdom","score":0.7760000228881836},{"id":"https://openalex.org/keywords/italy","display_name":"Italy","score":0.7889999747276306},{"id":"https://openalex.org/keywords/financial-risk-transmission","display_name":"financial risk transmission","score":0.33000001311302185}],"concepts":[{"id":"https://openalex.org/C201943243","wikidata":"https://www.wikidata.org/wiki/Q7551008","display_name":"Social connectedness","level":2,"score":0.9273836016654968},{"id":"https://openalex.org/C3008058167","wikidata":"https://www.wikidata.org/wiki/Q84263196","display_name":"Coronavirus disease 2019 (COVID-19)","level":4,"score":0.6636050939559937},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.585762619972229},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5273911356925964},{"id":"https://openalex.org/C89623803","wikidata":"https://www.wikidata.org/wiki/Q12184","display_name":"Pandemic","level":5,"score":0.48721712827682495},{"id":"https://openalex.org/C2778890369","wikidata":"https://www.wikidata.org/wiki/Q499041","display_name":"Financial contagion","level":3,"score":0.4849103093147278},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.4626624882221222},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4578297734260559},{"id":"https://openalex.org/C144587487","wikidata":"https://www.wikidata.org/wiki/Q1369234","display_name":"Systemic risk","level":3,"score":0.45436906814575195},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.367141991853714},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.34113889932632446},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3301846981048584},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1720494031906128},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.14268693327903748},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.08043697476387024},{"id":"https://openalex.org/C524204448","wikidata":"https://www.wikidata.org/wiki/Q788926","display_name":"Infectious disease (medical specialty)","level":3,"score":0.0},{"id":"https://openalex.org/C542102704","wikidata":"https://www.wikidata.org/wiki/Q183257","display_name":"Psychotherapist","level":1,"score":0.0},{"id":"https://openalex.org/C2779134260","wikidata":"https://www.wikidata.org/wiki/Q12136","display_name":"Disease","level":2,"score":0.0},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0},{"id":"https://openalex.org/C142724271","wikidata":"https://www.wikidata.org/wiki/Q7208","display_name":"Pathology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/acfi.12775","doi":"https://doi.org/10.1111/acfi.12775","is_oa":true,"landing_page_url":"https://doi.org/10.1111/acfi.12775","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.12775","source":{"id":"https://openalex.org/S4210171597","display_name":"Accounting and Finance","issn_l":"0810-5391","issn":["0810-5391","1467-629X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"journal-article"},{"id":"pmh:oai:pubmedcentral.nih.gov:8250539","doi":null,"is_oa":true,"landing_page_url":"https://www.ncbi.nlm.nih.gov/pmc/articles/8250539","pdf_url":null,"source":{"id":"https://openalex.org/S2764455111","display_name":"PubMed Central","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1299303238","host_organization_name":"National Institutes of Health","host_organization_lineage":["https://openalex.org/I1299303238"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"Text"}],"best_oa_location":{"id":"doi:10.1111/acfi.12775","doi":"https://doi.org/10.1111/acfi.12775","is_oa":true,"landing_page_url":"https://doi.org/10.1111/acfi.12775","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/acfi.12775","source":{"id":"https://openalex.org/S4210171597","display_name":"Accounting and Finance","issn_l":"0810-5391","issn":["0810-5391","1467-629X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting & Finance","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G235467156","display_name":"\u7f51\u7edc\u89c6\u89d2\u4e0b\u7684\u6295\u8d44\u8005\u4ea4\u6613\u884c\u4e3a\u53ca\u5176\u5f71\u54cd\u7814\u7a76\u2014\u2014\u57fa\u4e8e\u72ec\u7279\u7684\u80a1\u7968\u8d26\u6237\u6570\u636e","funder_award_id":"71972100","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G2714272153","display_name":null,"funder_award_id":"010414370113","funder_id":"https://openalex.org/F4320335787","funder_display_name":"Fundamental Research Funds for the Central Universities"},{"id":"https://openalex.org/G3859494654","display_name":"\u878d\u8d44\u878d\u5238\u975e\u5bf9\u79f0\u4ea4\u6613\u884c\u4e3a\u53ca\u5176\u5f71\u54cd\u7814\u7a76\u2014\u2014\u57fa\u4e8e\u6295\u8d44\u8005\u4fe1\u7528\u8d26\u6237\u6570\u636e","funder_award_id":"71672081","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G4135978206","display_name":null,"funder_award_id":"U1811462","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G6924189370","display_name":null,"funder_award_id":"71720107001","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"},{"id":"https://openalex.org/F4320335787","display_name":"Fundamental Research Funds for the Central Universities","ror":null}],"has_content":{"pdf":true,"grobid_xml":false},"content_urls":{"pdf":"https://content.openalex.org/works/W3138391007.pdf"},"referenced_works_count":19,"referenced_works":["https://openalex.org/W173730209","https://openalex.org/W2000624020","https://openalex.org/W2039734130","https://openalex.org/W2076396344","https://openalex.org/W2162126140","https://openalex.org/W2336724063","https://openalex.org/W2771030840","https://openalex.org/W2779302751","https://openalex.org/W2921545793","https://openalex.org/W2923478859","https://openalex.org/W2949333925","https://openalex.org/W2949335731","https://openalex.org/W2988963552","https://openalex.org/W3020982786","https://openalex.org/W3122471459","https://openalex.org/W3122872482","https://openalex.org/W3124194226","https://openalex.org/W3125666236","https://openalex.org/W4246715751"],"related_works":["https://openalex.org/W4385218382","https://openalex.org/W4385243687","https://openalex.org/W4379145238","https://openalex.org/W3165474314","https://openalex.org/W3129491683","https://openalex.org/W4200042859","https://openalex.org/W4395097784","https://openalex.org/W3033275778","https://openalex.org/W4226092002","https://openalex.org/W3108266956"],"abstract_inverted_index":{"Abstract":[0],"COVID\u201019":[1,30],"spread":[2,87],"throughout":[3],"the":[4,21,29,43,63,84,100],"world":[5],"during":[6,28],"2020,":[7],"bringing":[8],"an":[9],"increase":[10],"in":[11,92],"global":[12,25,93],"financial":[13],"risk.":[14],"We":[15,60],"use":[16,38],"connectedness":[17,74],"network":[18],"to":[19,41,54],"investigate":[20],"risk":[22,44],"contagion":[23,45],"among":[24],"stock":[26],"markets":[27,94],"pandemic":[31],"and":[32,58,66,73,95],"analyse":[33],"its":[34,56],"source.":[35],"Furthermore,":[36],"we":[37],"spectrum":[39],"analysis":[40],"explore":[42,55],"effects":[46],"on":[47],"different":[48],"frequency":[49],"bands,":[50],"which":[51,81],"allows":[52],"us":[53],"speed":[57],"channels.":[59],"find":[61],"that":[62,83],"United":[64],"Kingdom":[65],"Italy":[67],"are":[68,86],"core":[69],"transmitters":[70],"of":[71],"risks,":[72],"is":[75],"mainly":[76],"driven":[77],"by":[78,88],"low\u2010frequency":[79],"components,":[80],"demonstrates":[82],"risks":[85],"affecting":[89],"supply":[90],"chains":[91],"investors\u2019":[96],"long\u2010term":[97],"expectations":[98],"for":[99],"economy.":[101]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":13},{"year":2023,"cited_by_count":12},{"year":2022,"cited_by_count":9},{"year":2021,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2021-03-29T00:00:00"}