{"id":"https://openalex.org/W4412352762","doi":"https://doi.org/10.1109/access.2025.3588385","title":"Hierarchical Structure Estimation of Financial Networks and Sentiment Analysis of Financial News Headlines","display_name":"Hierarchical Structure Estimation of Financial Networks and Sentiment Analysis of Financial News Headlines","publication_year":2025,"publication_date":"2025-01-01","ids":{"openalex":"https://openalex.org/W4412352762","doi":"https://doi.org/10.1109/access.2025.3588385"},"language":"en","primary_location":{"id":"doi:10.1109/access.2025.3588385","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2025.3588385","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.1109/access.2025.3588385","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5115959183","display_name":"Naijia Liu","orcid":null},"institutions":[{"id":"https://openalex.org/I74801974","display_name":"The University of Tokyo","ror":"https://ror.org/057zh3y96","country_code":"JP","type":"education","lineage":["https://openalex.org/I74801974"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Naijia Liu","raw_affiliation_strings":["School of Engineering, The University of Tokyo, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0009-0009-4062-7653","affiliations":[{"raw_affiliation_string":"School of Engineering, The University of Tokyo, Tokyo, Japan","institution_ids":["https://openalex.org/I74801974"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5072804902","display_name":"Kaira Sekiguchi","orcid":"https://orcid.org/0000-0001-6473-3391"},"institutions":[{"id":"https://openalex.org/I74801974","display_name":"The University of Tokyo","ror":"https://ror.org/057zh3y96","country_code":"JP","type":"education","lineage":["https://openalex.org/I74801974"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Kaira Sekiguchi","raw_affiliation_strings":["School of Engineering, The University of Tokyo, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0000-0001-6473-3391","affiliations":[{"raw_affiliation_string":"School of Engineering, The University of Tokyo, Tokyo, Japan","institution_ids":["https://openalex.org/I74801974"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5110329224","display_name":"Yoshiyuki Nakata","orcid":null},"institutions":[{"id":"https://openalex.org/I4210123968","display_name":"NOF Corporation (Japan)","ror":"https://ror.org/02xnraw58","country_code":"JP","type":"company","lineage":["https://openalex.org/I4210123968"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Yoshiyuki Nakata","raw_affiliation_strings":["Nissay Asset Management Corporation, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0009-0004-9493-4599","affiliations":[{"raw_affiliation_string":"Nissay Asset Management Corporation, Tokyo, Japan","institution_ids":["https://openalex.org/I4210123968"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5045117650","display_name":"Toshiaki Sugie","orcid":null},"institutions":[{"id":"https://openalex.org/I4210123968","display_name":"NOF Corporation (Japan)","ror":"https://ror.org/02xnraw58","country_code":"JP","type":"company","lineage":["https://openalex.org/I4210123968"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Toshiaki Sugie","raw_affiliation_strings":["Nissay Asset Management Corporation, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0009-0003-8026-3512","affiliations":[{"raw_affiliation_string":"Nissay Asset Management Corporation, Tokyo, Japan","institution_ids":["https://openalex.org/I4210123968"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5048385061","display_name":"Takaaki Yoshino","orcid":null},"institutions":[{"id":"https://openalex.org/I4210123968","display_name":"NOF Corporation (Japan)","ror":"https://ror.org/02xnraw58","country_code":"JP","type":"company","lineage":["https://openalex.org/I4210123968"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Takaaki Yoshino","raw_affiliation_strings":["Nissay Asset Management Corporation, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0009-0006-1775-9584","affiliations":[{"raw_affiliation_string":"Nissay Asset Management Corporation, Tokyo, Japan","institution_ids":["https://openalex.org/I4210123968"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5060604714","display_name":"Yukio Ohsawa","orcid":"https://orcid.org/0000-0003-2943-2547"},"institutions":[{"id":"https://openalex.org/I74801974","display_name":"The University of Tokyo","ror":"https://ror.org/057zh3y96","country_code":"JP","type":"education","lineage":["https://openalex.org/I74801974"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Yukio Ohsawa","raw_affiliation_strings":["School of Engineering, The University of Tokyo, Tokyo, Japan"],"raw_orcid":"https://orcid.org/0000-0003-2943-2547","affiliations":[{"raw_affiliation_string":"School of Engineering, The University of Tokyo, Tokyo, Japan","institution_ids":["https://openalex.org/I74801974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":6,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":1850,"currency":"USD","value_usd":1850},"apc_paid":{"value":1850,"currency":"USD","value_usd":1850},"fwci":1.7588,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.87406182,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":95,"max":98},"biblio":{"volume":"13","issue":null,"first_page":"129476","last_page":"129492"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13083","display_name":"Advanced Text Analysis Techniques","score":0.8830999732017517,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T13083","display_name":"Advanced Text Analysis Techniques","score":0.8830999732017517,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/estimation","display_name":"Estimation","score":0.6199014782905579},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.49532046914100647},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.44508761167526245},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.23984888195991516},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.14132875204086304}],"concepts":[{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.6199014782905579},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.49532046914100647},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.44508761167526245},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.23984888195991516},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.14132875204086304},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1109/access.2025.3588385","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2025.3588385","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:1b46c00ceba348d78a02f3218c5b64ae","is_oa":true,"landing_page_url":"https://doaj.org/article/1b46c00ceba348d78a02f3218c5b64ae","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"IEEE Access, Vol 13, Pp 129476-129492 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1109/access.2025.3588385","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2025.3588385","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G4858236669","display_name":null,"funder_award_id":"JPMJPF2013","funder_id":"https://openalex.org/F4320311687","funder_display_name":"Ministry of Education"}],"funders":[{"id":"https://openalex.org/F4320311687","display_name":"Ministry of Education","ror":"https://ror.org/03m01yf64"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":49,"referenced_works":["https://openalex.org/W1928856156","https://openalex.org/W1991750682","https://openalex.org/W2010312432","https://openalex.org/W2030223245","https://openalex.org/W2058815839","https://openalex.org/W2115066119","https://openalex.org/W2128160875","https://openalex.org/W2128366083","https://openalex.org/W2142712325","https://openalex.org/W2145134598","https://openalex.org/W2171468534","https://openalex.org/W2483492516","https://openalex.org/W2737518127","https://openalex.org/W2786487836","https://openalex.org/W2891551565","https://openalex.org/W2897249806","https://openalex.org/W2946975908","https://openalex.org/W2962905570","https://openalex.org/W2983668733","https://openalex.org/W3026479760","https://openalex.org/W3031664652","https://openalex.org/W3043074120","https://openalex.org/W3045914311","https://openalex.org/W3104130320","https://openalex.org/W3125952890","https://openalex.org/W3134073826","https://openalex.org/W3151670002","https://openalex.org/W3177401773","https://openalex.org/W3207496317","https://openalex.org/W3215289990","https://openalex.org/W3216249210","https://openalex.org/W4200410992","https://openalex.org/W4205935407","https://openalex.org/W4293056099","https://openalex.org/W4310230942","https://openalex.org/W4313565716","https://openalex.org/W4322710510","https://openalex.org/W4385430200","https://openalex.org/W4385681328","https://openalex.org/W4390905774","https://openalex.org/W4391528831","https://openalex.org/W4392669749","https://openalex.org/W4396223094","https://openalex.org/W4400676904","https://openalex.org/W4400911482","https://openalex.org/W4404172054","https://openalex.org/W4406459045","https://openalex.org/W6630355025","https://openalex.org/W6748577499"],"related_works":["https://openalex.org/W4391375266","https://openalex.org/W2899084033","https://openalex.org/W2748952813","https://openalex.org/W2390279801","https://openalex.org/W4391913857","https://openalex.org/W2358668433","https://openalex.org/W4396701345","https://openalex.org/W2376932109","https://openalex.org/W2001405890","https://openalex.org/W4396696052"],"abstract_inverted_index":{"In":[0,29,155],"financial":[1,123,176,224],"markets,":[2],"there":[3],"have":[4],"been":[5],"several":[6],"crises,":[7],"and":[8,48,63,79,168,191],"it":[9,71],"is":[10,68,126],"often":[11],"suggested":[12],"that":[13,209],"early":[14],"signs":[15],"of":[16,122,133,138,175],"these":[17,65],"crises":[18],"can":[19],"be":[20,145],"observed":[21],"in":[22,86,101,107,149,163],"market":[23,46,66,134,139,192,197,225],"structures":[24],"before":[25],"they":[26,151],"fully":[27],"emerge.":[28],"this":[30,91,156,214],"study,":[31,157],"we":[32,93,158],"apply":[33],"the":[34,49,87,99,102,108,119,160,164,172,180,201,205],"one-layer":[35],"Hierarchical":[36],"Stochastic":[37],"Block":[38],"Model":[39],"(HSBM)":[40],"to":[41,56,74,77,95,144],"detect":[42],"anomalies":[43],"by":[44],"analyzing":[45],"changes":[47,85,162,194],"underlying":[50],"spatial":[51],"structure,":[52],"providing":[53],"crucial":[54],"insights":[55,217],"support":[57],"investors\u2019":[58],"investment":[59],"decisions.":[60],"Moreover,":[61],"understanding":[62,223],"explaining":[64],"shifts":[67],"essential,":[69],"as":[70,105,129],"enables":[72],"investors":[73],"respond":[75],"effectively":[76],"fluctuations":[78],"proactively":[80],"prepare":[81],"for":[82,115,222],"similar":[83],"major":[84],"future.":[88],"To":[89],"deepen":[90],"analysis,":[92],"extended":[94],"two-layer":[96,113],"HSBM,":[97],"treating":[98],"blocks":[100],"lower":[103],"layer":[104],"nodes":[106],"upper":[109],"layer,":[110],"using":[111],"a":[112,130,186,219],"approach":[114],"cause":[116],"analysis.":[117],"Additionally,":[118],"sentiment":[120,141,173,189],"score":[121],"news":[124,177],"headlines":[125,178],"widely":[127],"regarded":[128],"strong":[131],"indicator":[132],"conditions.":[135,198],"During":[136],"periods":[137,211],"prosperity,":[140],"scores":[142,174,190],"tend":[143],"more":[146,153],"positive,":[147],"while":[148],"downturns,":[150],"become":[152],"negative.":[154],"analyzed":[159],"structural":[161],"S&P":[165],"100":[166],"indices":[167],"compared":[169],"them":[170],"with":[171],"from":[179],"same":[181],"period.":[182],"Our":[183],"findings":[184],"reveal":[185],"correlation":[187],"between":[188,204],"structure":[193],"under":[195],"normal":[196],"However,":[199],"during":[200],"pandemic,":[202],"discrepancies":[203],"two":[206],"emerged,":[207],"suggesting":[208],"crisis":[210],"may":[212],"disrupt":[213],"relationship.":[215],"These":[216],"provide":[218],"new":[220],"perspective":[221],"dynamics.":[226]},"counts_by_year":[{"year":2026,"cited_by_count":1}],"updated_date":"2026-06-11T09:08:48.828518","created_date":"2025-10-10T00:00:00"}
