Research Article
A Network-Based Dynamic Analysis in an Equity Stock Market
Table 1
Basic model. This table summarizes the results of the following basic model: . The dependent variable is the proposed index of network change, calculated using the average transaction as a threshold for the existence of a link. corresponds to the returns or growth rate of variables such as IPSA, VIX, Pe, CU, CLP, S&P 500, volume, CDS5, and MSCI. and are month and year fixed effects to control for seasonality and variation associated with any specific year. Columns and show the results for the indexes and , and column displays our preferred specification.
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| Robust standard errors are given in brackets. , , and . | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||