{"id":"https://openalex.org/W3213137694","doi":"https://doi.org/10.1155/2021/7676457","title":"A Network\u2010Based Approach to Study Returns Synchronization of Stocks: The Case of Global Equity Markets","display_name":"A Network\u2010Based Approach to Study Returns Synchronization of Stocks: The Case of Global Equity Markets","publication_year":2021,"publication_date":"2021-01-01","ids":{"openalex":"https://openalex.org/W3213137694","doi":"https://doi.org/10.1155/2021/7676457","mag":"3213137694"},"language":"en","primary_location":{"id":"doi:10.1155/2021/7676457","is_oa":true,"landing_page_url":"https://doi.org/10.1155/2021/7676457","pdf_url":"https://downloads.hindawi.com/journals/complexity/2021/7676457.pdf","source":{"id":"https://openalex.org/S207319443","display_name":"Complexity","issn_l":"1076-2787","issn":["1076-2787","1099-0526"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319869","host_organization_name":"Hindawi Publishing Corporation","host_organization_lineage":["https://openalex.org/P4310319869","https://openalex.org/P4310320595"],"host_organization_lineage_names":["Hindawi Publishing Corporation","Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Complexity","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://downloads.hindawi.com/journals/complexity/2021/7676457.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5073403536","display_name":"Jaime F. Lav\u00edn","orcid":"https://orcid.org/0000-0003-1380-6938"},"institutions":[{"id":"https://openalex.org/I21067949","display_name":"Adolfo Ib\u00e1\u00f1ez University","ror":"https://ror.org/0326knt82","country_code":"CL","type":"education","lineage":["https://openalex.org/I21067949"]}],"countries":["CL"],"is_corresponding":true,"raw_author_name":"Jaime F. Lavin","raw_affiliation_strings":["Business School, Universidad Adolfo Ib\u00e1\u00f1ez, Santiago, Chile uai.cl","Business School, Universidad Adolfo Ib\u00e1\u00f1ez, Santiago"],"raw_orcid":"https://orcid.org/0000-0003-1380-6938","affiliations":[{"raw_affiliation_string":"Business School, Universidad Adolfo Ib\u00e1\u00f1ez, Santiago, Chile uai.cl","institution_ids":["https://openalex.org/I21067949"]},{"raw_affiliation_string":"Business School, Universidad Adolfo Ib\u00e1\u00f1ez, Santiago","institution_ids":["https://openalex.org/I21067949"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5073066295","display_name":"Mauricio A. Valle","orcid":"https://orcid.org/0000-0003-1362-2776"},"institutions":[{"id":"https://openalex.org/I4210113179","display_name":"Finis Terrae University","ror":"https://ror.org/0225snd59","country_code":"CL","type":"education","lineage":["https://openalex.org/I4210113179"]}],"countries":["CL"],"is_corresponding":false,"raw_author_name":"Mauricio A. Valle","raw_affiliation_strings":["Faculty of Economics and Business, Universidad Finis Terrae, Santiago, Chile finisterrae.cl","Faculty of Economics and Business, Universidad Finis Terrae, Santiago"],"raw_orcid":"https://orcid.org/0000-0003-1362-2776","affiliations":[{"raw_affiliation_string":"Faculty of Economics and Business, Universidad Finis Terrae, Santiago, Chile finisterrae.cl","institution_ids":["https://openalex.org/I4210113179"]},{"raw_affiliation_string":"Faculty of Economics and Business, Universidad Finis Terrae, Santiago","institution_ids":["https://openalex.org/I4210113179"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5019662032","display_name":"Nicol\u00e1s S. Magner","orcid":"https://orcid.org/0000-0002-3414-3996"},"institutions":[{"id":"https://openalex.org/I911713783","display_name":"Universidad Diego Portales","ror":"https://ror.org/03gtdcg60","country_code":"CL","type":"education","lineage":["https://openalex.org/I911713783"]}],"countries":["CL"],"is_corresponding":false,"raw_author_name":"Nicol\u00e1s S. Magner","raw_affiliation_strings":["Facultad de Econom\u00eda y Empresa, Universidad Diego Portales, Santiago, Chile udp.cl","Facultad de Econom\u00eda y Empresa, Universidad Diego Portales, Santiago"],"raw_orcid":"https://orcid.org/0000-0002-3414-3996","affiliations":[{"raw_affiliation_string":"Facultad de Econom\u00eda y Empresa, Universidad Diego Portales, Santiago, Chile udp.cl","institution_ids":["https://openalex.org/I911713783"]},{"raw_affiliation_string":"Facultad de Econom\u00eda y Empresa, Universidad Diego Portales, Santiago","institution_ids":["https://openalex.org/I911713783"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5073403536"],"corresponding_institution_ids":["https://openalex.org/I21067949"],"apc_list":{"value":2760,"currency":"USD","value_usd":2760},"apc_paid":{"value":2760,"currency":"USD","value_usd":2760},"fwci":1.4046,"has_fulltext":true,"cited_by_count":8,"citation_normalized_percentile":{"value":0.87848947,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":96},"biblio":{"volume":"2021","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.9994000196456909,"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"}},"topics":[{"id":"https://openalex.org/T11270","display_name":"Complex Systems and Time Series Analysis","score":0.9994000196456909,"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":0.991599977016449,"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/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.968999981880188,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/equity","display_name":"Equity (law)","score":0.6964113712310791},{"id":"https://openalex.org/keywords/synchronization","display_name":"Synchronization (alternating current)","score":0.6712399125099182},{"id":"https://openalex.org/keywords/stock","display_name":"Stock (firearms)","score":0.5126227736473083},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.49079903960227966},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.45056360960006714},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.44916093349456787},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"Emerging markets","score":0.43474531173706055},{"id":"https://openalex.org/keywords/stock-market","display_name":"Stock market","score":0.42208540439605713},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.41263002157211304},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.36101579666137695},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.27255934476852417},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.18115708231925964},{"id":"https://openalex.org/keywords/telecommunications","display_name":"Telecommunications","score":0.11075195670127869},{"id":"https://openalex.org/keywords/geography","display_name":"Geography","score":0.10208427906036377},{"id":"https://openalex.org/keywords/context","display_name":"Context (archaeology)","score":0.07434135675430298}],"concepts":[{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6964113712310791},{"id":"https://openalex.org/C2778562939","wikidata":"https://www.wikidata.org/wiki/Q1298791","display_name":"Synchronization (alternating current)","level":3,"score":0.6712399125099182},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5126227736473083},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.49079903960227966},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.45056360960006714},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.44916093349456787},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.43474531173706055},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.42208540439605713},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.41263002157211304},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.36101579666137695},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.27255934476852417},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.18115708231925964},{"id":"https://openalex.org/C76155785","wikidata":"https://www.wikidata.org/wiki/Q418","display_name":"Telecommunications","level":1,"score":0.11075195670127869},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.10208427906036377},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.07434135675430298},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C127162648","wikidata":"https://www.wikidata.org/wiki/Q16858953","display_name":"Channel (broadcasting)","level":2,"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/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1155/2021/7676457","is_oa":true,"landing_page_url":"https://doi.org/10.1155/2021/7676457","pdf_url":"https://downloads.hindawi.com/journals/complexity/2021/7676457.pdf","source":{"id":"https://openalex.org/S207319443","display_name":"Complexity","issn_l":"1076-2787","issn":["1076-2787","1099-0526"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319869","host_organization_name":"Hindawi Publishing Corporation","host_organization_lineage":["https://openalex.org/P4310319869","https://openalex.org/P4310320595"],"host_organization_lineage_names":["Hindawi Publishing Corporation","Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Complexity","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:hin:complx:7676457","is_oa":false,"landing_page_url":"http://downloads.hindawi.com/journals/complexity/2021/7676457.xml","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,"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"},{"id":"pmh:oai:doaj.org/article:85af32dbd6374fa0b50bb1d7a01d759f","is_oa":true,"landing_page_url":"https://doaj.org/article/85af32dbd6374fa0b50bb1d7a01d759f","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":"Complexity, Vol 2021 (2021)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1155/2021/7676457","is_oa":true,"landing_page_url":"https://doi.org/10.1155/2021/7676457","pdf_url":"https://downloads.hindawi.com/journals/complexity/2021/7676457.pdf","source":{"id":"https://openalex.org/S207319443","display_name":"Complexity","issn_l":"1076-2787","issn":["1076-2787","1099-0526"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319869","host_organization_name":"Hindawi Publishing Corporation","host_organization_lineage":["https://openalex.org/P4310319869","https://openalex.org/P4310320595"],"host_organization_lineage_names":["Hindawi Publishing Corporation","Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Complexity","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3213137694.pdf","grobid_xml":"https://content.openalex.org/works/W3213137694.grobid-xml"},"referenced_works_count":76,"referenced_works":["https://openalex.org/W1981510969","https://openalex.org/W1997529623","https://openalex.org/W2014150910","https://openalex.org/W2017927472","https://openalex.org/W2023431567","https://openalex.org/W2029730669","https://openalex.org/W2039734130","https://openalex.org/W2064266889","https://openalex.org/W2065769502","https://openalex.org/W2067622202","https://openalex.org/W2070772003","https://openalex.org/W2072010802","https://openalex.org/W2073128439","https://openalex.org/W2081681829","https://openalex.org/W2085003836","https://openalex.org/W2086799485","https://openalex.org/W2090942787","https://openalex.org/W2094688862","https://openalex.org/W2094862176","https://openalex.org/W2097580026","https://openalex.org/W2102173527","https://openalex.org/W2108209281","https://openalex.org/W2108914359","https://openalex.org/W2116701769","https://openalex.org/W2123199877","https://openalex.org/W2123423040","https://openalex.org/W2128391133","https://openalex.org/W2129737628","https://openalex.org/W2137034394","https://openalex.org/W2138144286","https://openalex.org/W2140875361","https://openalex.org/W2154084173","https://openalex.org/W2173587936","https://openalex.org/W2246394597","https://openalex.org/W2537156869","https://openalex.org/W2593136423","https://openalex.org/W2594577095","https://openalex.org/W2597275872","https://openalex.org/W2611011638","https://openalex.org/W2769724348","https://openalex.org/W2793213869","https://openalex.org/W2795884122","https://openalex.org/W2811237396","https://openalex.org/W2950838466","https://openalex.org/W2955597194","https://openalex.org/W2963138373","https://openalex.org/W3020982786","https://openalex.org/W3040000434","https://openalex.org/W3089648760","https://openalex.org/W3094695430","https://openalex.org/W3103071483","https://openalex.org/W3105517623","https://openalex.org/W3115965943","https://openalex.org/W3119648259","https://openalex.org/W3121664163","https://openalex.org/W3122377502","https://openalex.org/W3122493854","https://openalex.org/W3122768207","https://openalex.org/W3122926601","https://openalex.org/W3123068586","https://openalex.org/W3123808667","https://openalex.org/W3123933399","https://openalex.org/W3123951588","https://openalex.org/W3123999895","https://openalex.org/W3124094741","https://openalex.org/W3124317733","https://openalex.org/W3125156342","https://openalex.org/W3125841019","https://openalex.org/W3126021322","https://openalex.org/W4230327943","https://openalex.org/W4230644069","https://openalex.org/W4246501183","https://openalex.org/W4246715751","https://openalex.org/W4248503640","https://openalex.org/W4253163276","https://openalex.org/W4300009529"],"related_works":["https://openalex.org/W209252387","https://openalex.org/W2036133148","https://openalex.org/W3193164354","https://openalex.org/W2982754925","https://openalex.org/W1967407015","https://openalex.org/W3125842711","https://openalex.org/W2140187337","https://openalex.org/W2351385984","https://openalex.org/W1669006136","https://openalex.org/W2645942849"],"abstract_inverted_index":{"The":[0],"synchronization":[1,21,41,70,119,144,162,201],"in":[2,98,147],"financial":[3,80],"markets":[4,46,95,114],"has":[5],"increased":[6],"during":[7],"the":[8,37,43,91,143,158,169,203,208],"rise":[9],"of":[10,19,39,47,67,93,110,129,145,160,172,176,198,205,207],"global":[11,14,40,68,94,118,125,200],"markets.":[12],"Nevertheless,":[13],"shocks":[15,120],"provoke":[16],"high":[17,199],"levels":[18],"returns":[20,92,146],"that":[22,64,90],"jeopardize":[23],"market":[24,134,177,210],"stability.":[25,211],"Using":[26],"correlation\u2010based":[27],"networks,":[28],"regressions,":[29],"and":[30,35,54,59,82,107,124,141,151,187],"VAR":[31],"models,":[32],"we":[33],"measure":[34,66],"estimate":[36],"effect":[38],"on":[42],"world":[44],"equity":[45],"North":[48],"America,":[49,51],"Latin":[50],"Europe,":[52],"Asia,":[53],"Oceania":[55],"between":[56],"July":[57],"2001":[58],"April":[60],"2020.":[61],"We":[62],"find":[63],"our":[65,190],"stock":[69],"is":[71,104,192],"dynamic":[72],"over":[73],"time,":[74],"its":[75,86],"minimums":[76],"coincide":[77],"with":[78],"significant":[79,106],"shocks,":[81],"it":[83,103],"shrinks":[84],"to":[85,117,138,167,182,195],"minimum":[87],"levels,":[88],"indicating":[89],"are":[96,127],"moving":[97],"a":[99,105,148,164,173,193],"synchronized":[100],"way.":[101,154],"Also,":[102],"positive":[108],"factor":[109,166],"regional":[111],"synchronization.":[112,130],"Regional":[113],"react":[115],"heterogeneously":[116],"suggesting":[121],"both":[122],"local":[123],"factors":[126],"sources":[128],"Our":[131,155],"work":[132,191],"helps":[133],"participants":[135,178],"who":[136],"need":[137],"measure,":[139],"monitor,":[140],"manage":[142],"parsimonious,":[149],"dynamic,":[150],"empirically":[152],"tractable":[153],"evidence":[156],"highlights":[157],"necessity":[159],"including":[161],"as":[163],"risk":[165],"assess":[168],"decision\u2010making":[170],"criteria":[171],"broad":[174],"range":[175],"ranging":[179],"from":[180],"regulators":[181],"investors.":[183],"To":[184],"policy\u2010makers,":[185],"governments,":[186],"central":[188],"banks,":[189],"call":[194],"incorporate":[196],"events":[197],"into":[202],"radar":[204],"hazards":[206],"whole":[209]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1}],"updated_date":"2026-08-21T09:56:20.448147","created_date":"2025-10-10T00:00:00"}
