55,265 research outputs found
The Community Structure of the Global Corporate Network
We investigate the community structure of the global ownership network of
transnational corporations. We find a pronounced organization in communities
that cannot be explained by randomness. Despite the global character of this
network, communities reflect first of all the geographical location of firms,
while the industrial sector plays only a marginal role. We also analyze the
network in which the nodes are the communities and the links are obtained by
aggregating the links among firms belonging to pairs of communities. We analyze
the network centrality of the top 50 communities and we provide the first
quantitative assessment of the financial sector role in connecting the global
economy
Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network
Multinational corporations use highly complex structures of parents and
subsidiaries to organize their operations and ownership. Offshore Financial
Centers (OFCs) facilitate these structures through low taxation and lenient
regulation, but are increasingly under scrutiny, for instance for enabling tax
avoidance. Therefore, the identification of OFC jurisdictions has become a
politicized and contested issue. We introduce a novel data-driven approach for
identifying OFCs based on the global corporate ownership network, in which over
98 million firms (nodes) are connected through 71 million ownership relations.
This granular firm-level network data uniquely allows identifying both
sink-OFCs and conduit-OFCs. Sink-OFCs attract and retain foreign capital while
conduit-OFCs are attractive intermediate destinations in the routing of
international investments and enable the transfer of capital without taxation.
We identify 24 sink-OFCs. In addition, a small set of five countries -- the
Netherlands, the United Kingdom, Ireland, Singapore and Switzerland -- canalize
the majority of corporate offshore investment as conduit-OFCs. Each conduit
jurisdiction is specialized in a geographical area and there is significant
specialization based on industrial sectors. Against the idea of OFCs as exotic
small islands that cannot be regulated, we show that many sink and conduit-OFCs
are highly developed countries
A framework for the forensic investigation of unstructured email relationship data
Our continued reliance on email communications ensures that it remains a major source of evidence during a digital investigation. Emails comprise both structured and unstructured data. Structured data provides qualitative information to the forensics examiner and is typically viewed through existing tools. Unstructured data is more complex as it comprises information associated with social networks, such as relationships within the network, identification of key actors and power relations, and there are currently no standardised tools for its forensic analysis. Moreover, email investigations may involve many hundreds of actors and thousands of messages. This paper posits a framework for the forensic investigation of email data. In particular, it focuses on the triage and analysis of unstructured data to identify key actors and relationships within an email network. This paper demonstrates the applicability of the approach by applying relevant stages of the framework to the Enron email corpus. The paper illustrates the advantage of triaging this data to identify (and discount) actors and potential sources of further evidence. It then applies social network analysis techniques to key actors within the data set. This paper posits that visualisation of unstructured data can greatly aid the examiner in their analysis of evidence discovered during an investigation
The Swiss Board Directors Network in 2009
We study the networks formed by the directors of the most important Swiss
boards and the boards themselves for the year 2009. The networks are obtained
by projection from the original bipartite graph. We highlight a number of
important statistical features of those networks such as degree distribution,
weight distribution, and several centrality measures as well as their
interrelationships. While similar statistics were already known for other board
systems, and are comparable here, we have extended the study with a careful
investigation of director and board centrality, a k-core analysis, and a
simulation of the speed of information propagation and its relationships with
the topological aspects of the network such as clustering and link weight and
betweenness. The overall picture that emerges is one in which the topological
structure of the Swiss board and director networks has evolved in such a way
that special actors and links between actors play a fundamental role in the
flow of information among distant parts of the network. This is shown in
particular by the centrality measures and by the simulation of a simple
epidemic process on the directors network.Comment: Submitted to The European Physical Journal
Small worlds and board interlocking in Brazil: a longitudinal study of corporate networks, 1997-2007
Social Network Analysis (SNA) is an emerging research field in finance, above all in Brazil. This work is pioneering in that it is supported by reference to different areas of knowledge: social network analysis and corporate governance, for dealing with a similarly emerging topic in finance; interlocking boards, the purpose being to check the validity of the small-world model in the Brazilian capital market, and the existence of associations between the positioning of the firm in the network of corporate relationships and its worth. To do so official data relating to more than 400 companies listed in Brazil between 1997 and 2007 were used. The main results obtained suggest that the configuration of the networks of relationships between board members and companies reflects the small-world model. Furthermore, there seems to be a significant relationship between the firm’s centrality and its worth, described according to an “inverted U” curve, which suggests the existence of optimum values of social prominence in the corporate network.Board Interlocking; Social Network Analysis in Finance; Company Boards
Power and Ownership Structures among German Companies. A Network Analysis of Financial Linkages
The literature on ownership structures has made continual use of notions such as cross-holdings and pyramids which are closely related to the vastly increasing network literature. We propose to transfer successfully applied network methods such as network graphs, the MAN-classification scheme, and centrality concepts to the corporate control and corporate governance branch as well. Given these concepts and a unique data set containing 2784 companies we can identify the most powerful German companies and their characteristics.network, ownership structure, corporate control, power, financial link
Complex network analysis and nonlinear dynamics
This chapter aims at reviewing complex network and nonlinear dynamical
models and methods that were either developed for or applied to socioeconomic
issues, and pertinent to the theme of New Economic Geography. After an introduction
to the foundations of the field of complex networks, the present summary
introduces some applications of complex networks to economics, finance, epidemic
spreading of innovations, and regional trade and developments. The chapter also
reviews results involving applications of complex networks to other relevant
socioeconomic issue
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