{"id":"https://openalex.org/W4385623520","doi":"https://doi.org/10.1016/j.pacfin.2023.102104","title":"Explosive behavior in the Chinese stock market: A sectoral analysis","display_name":"Explosive behavior in the Chinese stock market: A sectoral analysis","publication_year":2023,"publication_date":"2023-08-07","ids":{"openalex":"https://openalex.org/W4385623520","doi":"https://doi.org/10.1016/j.pacfin.2023.102104"},"language":"en","primary_location":{"id":"doi:10.1016/j.pacfin.2023.102104","doi":"https://doi.org/10.1016/j.pacfin.2023.102104","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.pacfin.2023.102104","pdf_url":null,"source":{"id":"https://openalex.org/S29049940","display_name":"Pacific-Basin Finance Journal","issn_l":"0927-538X","issn":["0927-538X","1879-0585"],"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-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Pacific-Basin Finance Journal","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.1016/j.pacfin.2023.102104","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101337803","display_name":"Hui Yang","orcid":"https://orcid.org/0009-0004-4451-3382","observed_orcids":["https://orcid.org/0009-0004-4451-3382"]},"institutions":[{"id":"https://openalex.org/I16097986","display_name":"Universitat de Val\u00e8ncia","ror":"https://ror.org/043nxc105","country_code":"ES","type":"education","lineage":["https://openalex.org/I16097986"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Hui Yang","raw_affiliation_strings":["Department of Financial and Actuarial Economics, University of Valencia, Spain"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Financial and Actuarial Economics, University of Valencia, Spain","institution_ids":["https://openalex.org/I16097986"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5039308852","display_name":"Rom\u00e1n Ferrer","orcid":"https://orcid.org/0000-0003-0275-0596","observed_orcids":["https://orcid.org/0000-0003-0275-0596"]},"institutions":[{"id":"https://openalex.org/I16097986","display_name":"Universitat de Val\u00e8ncia","ror":"https://ror.org/043nxc105","country_code":"ES","type":"education","lineage":["https://openalex.org/I16097986"]}],"countries":["ES"],"is_corresponding":true,"raw_author_name":"Rom\u00e1n Ferrer","raw_affiliation_strings":["Department of Financial and Actuarial Economics, University of Valencia, Spain"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Financial and Actuarial Economics, University of Valencia, Spain","institution_ids":["https://openalex.org/I16097986"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5039308852"],"corresponding_institution_ids":["https://openalex.org/I16097986"],"apc_list":{"value":2480,"currency":"USD","value_usd":2480},"apc_paid":{"value":2480,"currency":"USD","value_usd":2480},"fwci":2.8571,"has_fulltext":true,"cited_by_count":16,"citation_normalized_percentile":{"value":0.91595149,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":99},"biblio":{"volume":"81","issue":null,"first_page":"102104","last_page":"102104"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.8579000234603882,"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.8579000234603882,"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/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.08950000256299973,"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/T11059","display_name":"Market Dynamics and Volatility","score":0.022099999710917473,"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/chinese-stock-market","display_name":"Chinese stock market","score":0.8679999709129333},{"id":"https://openalex.org/keywords/sectoral-analysis","display_name":"sectoral analysis","score":0.843999981880188},{"id":"https://openalex.org/keywords/stock-market-bubbles","display_name":"stock market bubbles","score":0.7760000228881836},{"id":"https://openalex.org/keywords/bubble-detection","display_name":"bubble detection","score":0.8149999976158142},{"id":"https://openalex.org/keywords/contagion-effect","display_name":"contagion effect","score":0.6980000138282776},{"id":"https://openalex.org/keywords/emerging-stock-markets","display_name":"emerging stock markets","score":0.49900001287460327}],"concepts":[{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.7440944910049438},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7021921277046204},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.6704007387161255},{"id":"https://openalex.org/C154238967","wikidata":"https://www.wikidata.org/wiki/Q12870","display_name":"Explosive material","level":2,"score":0.4755955636501312},{"id":"https://openalex.org/C2991943566","wikidata":"https://www.wikidata.org/wiki/Q209380","display_name":"Chinese market","level":3,"score":0.4656238257884979},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.43736159801483154},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4276901185512543},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3587538003921509},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.2190195918083191},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C178790620","wikidata":"https://www.wikidata.org/wiki/Q11351","display_name":"Organic chemistry","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1016/j.pacfin.2023.102104","doi":"https://doi.org/10.1016/j.pacfin.2023.102104","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.pacfin.2023.102104","pdf_url":null,"source":{"id":"https://openalex.org/S29049940","display_name":"Pacific-Basin Finance Journal","issn_l":"0927-538X","issn":["0927-538X","1879-0585"],"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-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Pacific-Basin Finance Journal","raw_type":"journal-article"},{"id":"pmh:oai:roderic.uv.es:10550/96959","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/10550/96959","pdf_url":"https://roderic.uv.es/bitstreams/e5097cdb-93c7-4a9e-9e9f-972dea1b5e15/download","source":{"id":"https://openalex.org/S4306400245","display_name":"Repository of Digital Objects for Teaching Research and Culture (University of Valencia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I16097986","host_organization_name":"Universitat de Val\u00e8ncia","host_organization_lineage":["https://openalex.org/I16097986"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"journal article"},{"id":"pmh:oai:RePEc:eee:pacfin:v:81:y:2023:i:c:s0927538x23001750","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0927538X23001750","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.1016/j.pacfin.2023.102104","doi":"https://doi.org/10.1016/j.pacfin.2023.102104","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.pacfin.2023.102104","pdf_url":null,"source":{"id":"https://openalex.org/S29049940","display_name":"Pacific-Basin Finance Journal","issn_l":"0927-538X","issn":["0927-538X","1879-0585"],"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-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Pacific-Basin Finance Journal","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4385623520.pdf","grobid_xml":"https://content.openalex.org/works/W4385623520.grobid-xml"},"referenced_works_count":38,"referenced_works":["https://openalex.org/W1556316478","https://openalex.org/W1990205448","https://openalex.org/W2032805403","https://openalex.org/W2066505524","https://openalex.org/W2119143694","https://openalex.org/W2139238934","https://openalex.org/W2149451408","https://openalex.org/W2510329970","https://openalex.org/W2592589922","https://openalex.org/W2735634402","https://openalex.org/W2757370191","https://openalex.org/W2798569203","https://openalex.org/W2816105620","https://openalex.org/W2910640390","https://openalex.org/W2910898850","https://openalex.org/W3006364968","https://openalex.org/W3033543373","https://openalex.org/W3033767327","https://openalex.org/W3037416585","https://openalex.org/W3047040644","https://openalex.org/W3084883668","https://openalex.org/W3122528088","https://openalex.org/W3123425418","https://openalex.org/W3124546406","https://openalex.org/W3125260748","https://openalex.org/W3125914525","https://openalex.org/W3125973547","https://openalex.org/W3127884275","https://openalex.org/W3137584938","https://openalex.org/W3151723207","https://openalex.org/W3161862051","https://openalex.org/W3192898468","https://openalex.org/W3196503391","https://openalex.org/W3217236731","https://openalex.org/W4200586074","https://openalex.org/W4205660202","https://openalex.org/W4213384506","https://openalex.org/W6687315801"],"related_works":["https://openalex.org/W7165051339","https://openalex.org/W7046702218","https://openalex.org/W2379979320","https://openalex.org/W7124861320","https://openalex.org/W6981527833","https://openalex.org/W2376431144","https://openalex.org/W2478983658","https://openalex.org/W7167663306","https://openalex.org/W7124233185","https://openalex.org/W7056466795"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,8,19,33,49,60,65,69,74,90,93,124,145,153,174,180,185],"existence":[4],"of":[5,32,38,51,68,76,78,108,114,144,149,156,158,160,170],"explosiveness":[6,115,161],"in":[7,55,104,142,162],"Chinese":[9,70,94,119,129,176,186],"stock":[10,71,130],"market":[11,72,96,131],"from":[12,89],"a":[13],"sectoral":[14],"perspective.":[15],"To":[16],"that":[17,92],"end,":[18],"method":[20],"recently":[21],"developed":[22],"by":[23],"Phillips":[24,39],"and":[25,59,101,127,147],"Shi":[26],"(2019),":[27],"which":[28],"is":[29,43,102],"an":[30,105],"extension":[31],"standard":[34],"bubble":[35],"detection":[36],"technique":[37],"et":[40],"al.":[41],"(2015a,b),":[42],"used.":[44],"The":[45,110],"empirical":[46],"results":[47],"reveal":[48],"presence":[50],"several":[52],"explosivity":[53,150],"periods":[54,113,159],"all":[56],"equity":[57,62,95,120,164,177],"sectors":[58,121,141,165],"aggregate":[61],"market,":[63,178],"showing":[64],"high":[66],"propensity":[67],"to":[73,117,123,136,173],"appearance":[75],"episodes":[77],"explosiveness.":[79],"One":[80],"possible":[81],"explanation":[82],"for":[83],"this":[84],"frequent":[85],"explosive":[86,171],"dynamics":[87,172],"stems":[88],"fact":[91],"has":[97],"numerous":[98],"unique":[99],"features":[100],"still":[103],"early":[106],"stage":[107],"development.":[109],"two":[111],"main":[112],"common":[116],"many":[118],"correspond":[122],"well-known":[125],"2007":[126],"2015":[128],"bubbles.":[132],"However,":[133],"there":[134],"seems":[135],"be":[137],"some":[138],"heterogeneity":[139],"across":[140],"terms":[143],"number":[146],"duration":[148],"episodes.":[151],"Furthermore,":[152],"significant":[154],"degree":[155],"co-movement":[157],"different":[163],"suggests":[166],"potential":[167],"contagion":[168],"effects":[169],"whole":[175],"with":[179],"consequent":[181],"detrimental":[182],"impact":[183],"on":[184],"real":[187],"economy.":[188]},"counts_by_year":[{"year":2026,"cited_by_count":8},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":4}],"updated_date":"2026-11-06T12:05:46.655746","created_date":"2023-08-08T00:00:00"}