基于社会网络视角的分行业中国上公司交叉持股分析-AtlantisPress.PDFVIP

Advances in Social Science, Education and Humanities Research, volume 91 International Conference on Modern Management, Education Technology, and Social Science (MMETSS 2016) Cross - shareholding Analysis of China s Listed Companies by Sector based on Social Network Perspective Huifang Fei1,a,*,Canzhong Yao1,b 1school of economics and commerce, South China University of Technology, guangzhou, guangdong, china aashleyfeifang@163.com, b163.com keywords: Cross-shareholdings, social network, QAP analysis, Performance Impact Analysis. Abstract:Taking the cross shareholdings(CSH) A-share firms from Shanghai and Shenzhen stock markets from 2006 to 2014 as research samples, this study constructs corporate network and industrial network of CSH from the perspective of social network. QAP analysis is used to explore the influence factors of industry shareholding relationship ，and Multi-regression analysis is used to explore the influence of network location index on different industry performance. The results show that CSH of industrial relationship tends to occur among industries having weak correlation, similar industrial profitability and operating capacity. CSH relationship is irrelevant to whether these enterprises are in the same industries or not. The network location index only has significant influence on the performance of the public utility industry and the information technology industry with degree centrality and betweenness centrality having a significant positive effect for the former and betweenness centrality having a significant negative impact for the latter. 基于社会网络视角的分行业中国上市公司交叉持股分析 1,a 1,b 费慧芳 姚灿中