复杂网络视角下重要金融机构识别问题研究  

The Study on Identifying Important Financial Institutions from the Perspective of Complex Networks

作　　者：孔志 李志民[1] KONG Zhi;LI Zhimin(School of Mathematics-Physicsand Finance,An Hui Polythetic University,Wuhu Anhui 241000,China)

机构地区：[1]安徽工程大学数理与金融学院,安徽芜湖241000

出　　处：《太原师范学院学报(自然科学版)》2025年第1期10-21,共12页Journal of Taiyuan Normal University:Natural Science Edition

基　　金：安徽高校省级自然科学研究重大项目(KJ2019ZD16);国家自然科学基金面上项目(61873294)。

摘　　要：针对系统重要性金融机构准确识别的问题,基于35家上市金融机构的日收益率数据,提出了复杂网络生成方法,结合网络的拓扑结构给出识别系统重要性金融机构的指标体系,通过测度这些机构的系统风险贡献度,分析影响风险贡献度的因素,验证重要性金融机构指标的有效性.实证结果表明,中心性、特征向量中心性和点强度中心性等指标能够较好识别系统重要性金融机构,进一步通过面板回归分析发现,网络的中心性指标与系统风险贡献度之间存在显著的正向关系.这意味着,中心性较高的金融机构在金融网络中具有更大的系统性风险贡献,表明其在系统稳定性中的关键地位及潜在风险需要得到特别关注.To address the accurate identification of systemically important financial institu-tions,this study proposes a complex network generation method based on daily return data from 35 listed financial institutions.Combining the topological structure of the network,an indicator system for identifying systemically important financial institutions is established.By measuring the systemic risk contribution of these institutions,the factors influencing risk contribution are analyzed,and the validity of the importance indicators is verified.The empirical results show that indicators such as centrality,eigen-vector centrality,and strength centrality effectively identify systemically important financial institutions.Furthermore,through panel regression analysis,a significant positive relationship is found between net-work centrality indicators and systemic risk contribution.This implies that financial institutions with higher centrality make greater contributions to systemic risk within the financial network,highlighting their critical role in systemic stability and the need for special attention to their potential risks.

关 键 词：复杂网络 系统重要性金融机构 系统风险贡献 

分 类 号：F831[经济管理—金融学]