[Εξωφυλλο}

Η εξέλιξη του οικονομικού δικτύου των γενικών δεικτών των χρηματιστηριων αξιών για επιλεγμένες χώρες από την αμερική, την Ασία, την Ευρώπη και την Ωκεανία, από το 2005 έως το 2015

Γεωργία Μανώλα

Περίληψη


Στην παρούσα διατριβή μελετήθηκε η εξέλιξη του οικονομικού δικτύου των γενικών δεικτών των χρηματιστηρίων αξιών για δεκαοκτώ χώρες της Ευρώπης (με την Ελλάδα), έντεκα της Ασίας, επτά χώρες της Αμερικανικής ηπείρου, δυο της Ωκεανίας, μιας της Αφρικής, και τέλος της Ρωσίας (Ευρασία). Οι παρατηρήσεις χωρίστηκαν σε χρονικά παράθυρα διάρκειας 6 μηνών χωρίς επικάλυψη. Σε κάθε παράθυρο, κάθε γενικός δείκτης αποτέλεσε μια κορυφή και κάθε ακμή που συνδέει δυο κορυφές χαρακτηρίστηκε από την τιμή του συντελεστή συσχέτισης του Pearson, που υπολογίστηκε μεταξύ των χρονοσειρών των λογαριθμημένων αποδόσεων (logarithmic returns) ως ένα μέτρο ομοιότητας (similarity measure). Μετασχηματίζοντας το συγκεκριμένο μέτρο ομοιότητας σε συνάρτηση απόστασης δημιουργήθηκε μια σειρά από Πλήρη Σταθμισμένα Δίκτυα. Οι τεχνικές που χρησιμοποιήθηκαν για την ανάλυση αυτών των δικτύων στηρίχθηκαν στη δημιουργία και εξέλιξη του Ελαχίστου Δένδρου Ζεύξης (MST), του Επίπεδου Μέγιστα Φιλτραρισμένου Γραφήματος (PMFG), τον υπολογισμό των μέτρων κεντρικότητας (centrality measures), των καθολικών μέτρων (global indices), του συντελεστή ενδοκατηγορικής συσχέτισης (ICC), την εύρεση των κοινοτήτων (community structure), τον εντοπισμό των κλικών (cliques) και τη σύγκριση των Πινάκων Συσχετίσεων που αντιστοιχούν στα δίκτυα που μελετήθηκαν   ενώ τα αποτελέσματα ερμηνεύτηκαν με βάση συγκεκριμένα οικονομικά γεγονότα και σχέσεις μεταξύ των χωρών (γεωγραφική περιοχή, οικονομικές/νομισματικές ενώσεις-συνεργασίες, αναπτυγμένες και αναπτυσσόμενες χώρες) που έλαβαν μέρος κατά τη χρονική αυτή περίοδο.

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