摘要
本文构建了温州企业间担保网络,通过网络分析法研究了担保网络的网络规模、拓扑结构与特征、关联性以及风险演化过程。研究发现:温州企业担保网络具有"无标度"特性并存在明显的系统重要性企业,使其在面临随机冲击时具有非常好的稳定性,但在面临针对系统重要性企业的冲击时很容易出现系统性崩溃。同时,担保网络存在突出的"小世界"现象和"社区聚集",任何一个企业平均三步就可以通过担保关系将风险传递到另一个企业。
Based on Network Analysis, this paper builds an intercorporate loan guarantee network in Wenzhou and studies the size of the network scale, topology characteristics, and the risk evolution process of the guarantee network. The empirical results show that the topology of the presented loan guarantee network is close to a scalefree structure, and reveals the existence of several systemically important companies, which makes the network robust against accidental failures but vulnerable to coordinated attacks. Another important properties we find are the 'small world' and 'community clustering' effect, meaning that from any one node in the network, it takes on average only 3 steps to reach the other node, even though the network size is large.
出处
《浙江金融》
2019年第3期62-69,共8页
Zhejiang Finance
关键词
担保网络
网络分析
风险演化
系统性风险
Guarantee Network
Network Analysis
Risk Evolution
Systemic Risk
