Modeling Risk Contagion in the Venture Capital Market: A Multilayer Network Approach
المؤلفون المشاركون
Zhang, X.
Valdez, L. D.
Stanley, H. E.
Braunstein, L. A.
المصدر
العدد
المجلد 2019، العدد 2019 (31 ديسمبر/كانون الأول 2019)، ص ص. 1-11، 11ص.
الناشر
Hindawi Publishing Corporation
تاريخ النشر
2019-12-15
دولة النشر
مصر
عدد الصفحات
11
التخصصات الرئيسية
الملخص EN
Venture capital plays a critical role in spurring innovation, encouraging entrepreneurship, and generating wealth.
As a part of the financial market, venture capital is affected by market downturns and economic cycles, but it also creates bubbles that negatively impact the economy and social stability.
Although the venture capital market is a potential source of systemic risk, there has been little study of its contagion risk mechanism, or how the failure of a single market participant can threaten systemic stability.
We use a multilayer network analysis to model the risk contagion in a venture capital market when an external shock impacts a venture capital firm or start-up company in order to understand how risk can spread through connections between market participants and harm total market robustness.
We use our model to describe both the direct and indirect channels in the venture capital market that propagates risk and loss.
Using real data from the worldwide venture capital market, we find that the venture capital market exhibits the same “robust-yet-fragile” feature as other financial systems.
The coupling effect of direct and indirect risk contagions can cause abrupt transitions and large-scale damage even when the turbulence is minor.
We also find that the network structure, connectivity, and cash position distribution of market participants impact market robustness.
Our study complements other emerging research on measuring systemic risk through multiple connections among market players and on the feedback risk contagion between the financial industry and the real economy.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Zhang, X.& Valdez, L. D.& Stanley, H. E.& Braunstein, L. A.. 2019. Modeling Risk Contagion in the Venture Capital Market: A Multilayer Network Approach. Complexity،Vol. 2019, no. 2019, pp.1-11.
https://search.emarefa.net/detail/BIM-1133165
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Zhang, X.…[et al.]. Modeling Risk Contagion in the Venture Capital Market: A Multilayer Network Approach. Complexity No. 2019 (2019), pp.1-11.
https://search.emarefa.net/detail/BIM-1133165
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Zhang, X.& Valdez, L. D.& Stanley, H. E.& Braunstein, L. A.. Modeling Risk Contagion in the Venture Capital Market: A Multilayer Network Approach. Complexity. 2019. Vol. 2019, no. 2019, pp.1-11.
https://search.emarefa.net/detail/BIM-1133165
نوع البيانات
مقالات
لغة النص
الإنجليزية
الملاحظات
Includes bibliographical references
رقم السجل
BIM-1133165
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
تقوم هذه الخدمة بالتحقق من التشابه أو الانتحال في الأبحاث والمقالات العلمية والأطروحات الجامعية والكتب والأبحاث باللغة العربية، وتحديد درجة التشابه أو أصالة الأعمال البحثية وحماية ملكيتها الفكرية. تعرف اكثر