Table of Contents Author Guidelines Submit a Manuscript
Discrete Dynamics in Nature and Society
Volume 2017, Article ID 9731219, 11 pages
https://doi.org/10.1155/2017/9731219
Research Article

Structure Characteristics of the International Stock Market Complex Network in the Perspective of Whole and Part

1School of Economics and Management, Nanjing University of Information Science & Technology, Ningliu Road 219, Nanjing 210044, China
2Collaborative Innovation Center on Forecast and Evaluation of Meteorological Disasters, Nanjing University of Information Science & Technology, Ningliu Road 219, Nanjing 210044, China
3School of Economics and Management, Nanjing University of Science and Technology, Nanjing 210094, China

Correspondence should be addressed to Guangxi Cao; nc.ude.tsiun@ixgnaugoac

Received 23 September 2016; Accepted 12 February 2017; Published 6 March 2017

Academic Editor: Juan Pavón

Copyright © 2017 Guangxi Cao et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

International stock market forms an abstract complex network through the fluctuation correlation of stock price index. Past studies of complex network almost focus on single country’s stock market. Here we investigate the whole and partial characteristics of international stock market network (ISMN) (hereinafter referred to as ISMN). For the analysis on the whole network, we firstly determine the reasonable threshold as the basic of the following study. Robustness is applied to analyze the stability of the network and the result shows that ISMN has robustness against random attack but intentional attack breaks the connection integrity of ISMN rapidly. In the partial network, the sliding window method is used to analyze the dynamic evolution of the relationship between the Chinese (Shanghai) stock market and the international stock market. The connection between the Chinese stock market and foreign stock markets becomes increasingly closer, and the links between them show a significant enhancement especially after China joined the WTO. In general, we suggest that transnational investors pay more attention to some significant event of the stock market with large degree for better risk-circumvention.