THE GENERAL OWNERSHIP STRUCTURE OF THE EUROPEAN AEROSPACE INDUSTRY A STATISTICAL AND NETWORK ANALYSIS

2021 ◽  
Vol 24 (05) ◽  
Author(s):  
LUCIO BIGGIERO ◽  
ROBERT MAGNUSZEWSKI
Keyword(s):  
Ownership Structure ◽  
Business Groups ◽  
Small World ◽  
Equity Capital ◽  
Scale Free ◽  
Topological Parameters ◽  
New Methods ◽  
Aerospace Companies ◽  
Capital Transfer

In this paper, we investigate the ownership structure of the 3143 EU28 aerospace companies in 2019, and extend the analysis to the 2428 neighbor partners outside EU28 and/or aerospace. Different from the previous studies, we consider all equity capital flows regardless of their size, and their monetary value instead of the corresponding ownership share. We further innovate by applying new methods to measure degree of influence power and hierarchical structure. The resulting picture shows that between the pure EU28 aerospace companies: (i) ownership relationships concern only relatively few companies (10%), which trigger horizontal and vertical structures; (ii) density is extremely low; (iii) relationships are fully hierarchical with no cross-ownership; (iv) capital is seldom transferred across business groups; (v) most of the main topological parameters have a typically polarized scale-free structure. When including also the ownership neighbors, some of those traits change substantially: (i) the share of connected companies substantially grows up to 63%; (ii) size and length of the largest pyramidal structures will grow remarkably, reaching a top of 874 companies; (iii) the industry becomes a full small-world structure, thus allowing huge capital transfer across business groups. Finally, a dramatic financialization, meant as a pivotal and quantitatively heavy role of financial operators, emerges also as a clear characteristic of the extended network.

scholarly journals The Mechanism Research of Qishen Yiqi Formula by Module-Network Analysis

2015 ◽  
Vol 2015 ◽  
pp. 1-12 ◽  
Author(s):  
Shichao Zheng ◽  
Yanling Zhang ◽  
Yanjiang Qiao
Keyword(s):  
Protein Interactions ◽  
Blood Circulation ◽  
Blood Stasis ◽  
Interaction Network ◽  
Enrichment Analysis ◽  
Small World ◽  
Blood Stasis Syndrome ◽  
Active Components ◽  
Scale Free ◽  
Topological Parameters

Qishen Yiqi formula (QSYQ) has the effect of tonifying Qi and promoting blood circulation, which is widely used to treat the cardiovascular diseases with Qi deficiency and blood stasis syndrome. However, the mechanism of QSYQ to tonify Qi and promote blood circulation is rarely reported at molecular or systems level. This study aimed to elucidate the mechanism of QSYQ based on the protein interaction network (PIN) analysis. The targets’ information of the active components was obtained from ChEMBL and STITCH databases and was further used to search against protein-protein interactions by String database. Next, the PINs of QSYQ were constructed by Cytoscape and were analyzed by gene ontology enrichment analysis based on Markov Cluster algorithm. Finally, based on the topological parameters, the properties of scale-free, small world, and modularity of the QSYQ’s PINs were analyzed. And based on function modules, the mechanism of QSYQ was elucidated. The results indicated that Qi-tonifying efficacy of QSYQ may be partly attributed to the regulation of amino acid metabolism, carbohydrate metabolism, lipid metabolism, and cAMP metabolism, while QSYQ improves the blood stasis through the regulation of blood coagulation and cardiac muscle contraction. Meanwhile, the “synergy” of formula compatibility was also illuminated.

scholarly journals Characterizing the Structure of the Railway Network in China: A Complex Weighted Network Approach

2019 ◽  
Vol 2019 ◽  
pp. 1-10 ◽  
Author(s):  
Weiwei Cao ◽  
Xiangnan Feng ◽  
Jianmin Jia ◽  
Hong Zhang
Keyword(s):  
Structural Characteristics ◽  
Flow Distribution ◽  
Small World ◽  
Centrality Measures ◽  
Railway Network ◽  
Weighted Network ◽  
Scale Free ◽  
Topological Measures ◽  
Free Network

Understanding the structure of the Chinese railway network (CRN) is crucial for maintaining its efficiency and planning its future development. To advance our knowledge of CRN, we modeled CRN as a complex weighted network and explored the structural characteristics of the network via statistical evaluations and spatial analysis. Our results show CRN as a small-world network whose train flow obeys power-law decaying, demonstrating that CRN is a mature transportation infrastructure with a scale-free structure. CRN also shows significant spatial heterogeneity and hierarchy in its regionally uneven train flow distribution. We then examined the nodal centralities of CRN using four topological measures: degree, strength, betweenness, and closeness. Nodal degree is positively correlated with strength, betweenness, and closeness. Unlike the common feature of a scale-free network, the most connected nodes in CRN are not necessarily the most central due to underlying geographical, political, and socioeconomic factors. We proposed an integrated measure based on the four centrality measures to identify the global role of each node and the multilayer structure of CRN and confirm that stable connections hold between different layers of CRN.

Ownership structure and the cost of equity in the European context

2020 ◽  
Vol 28 (3) ◽  
pp. 485-514 ◽  
Author(s):  
Fabio La Rosa ◽  
Francesca Bernini ◽  
Roberto Verona
Keyword(s):  
Ownership Structure ◽  
Value Relevance ◽  
Equity Capital ◽  
Mediating Effect ◽  
Cost Of Equity ◽  
Anglo Saxon ◽  
Content Type ◽  
The Cost ◽  
Positive Effect

Purpose Based on the institutionalized agency theory, this paper aims to analyses the role of earnings management (EM) in mediating the relationship between ownership structure (OS) and the cost of equity capital (COE). Design/methodology/approach The authors test the above relationship by investigating a sample of 249 European non-financial listed companies during 2005-2012. The authors adopt different measures for both EM and COE and identify three main types of ownership by the majority share of the ultimate owners. Path analysis is used to explore the role of direct, mediated (i.e. EM) and total effects of OS on COE. Findings While OS directly affects COE, the results support the idea that an EM-mediating effect contributes to further explain this relationship in some ownership structures. Particularly European listed family-owned firms experience lower COE owing to the prevailing direct and negative effect of OS, despite the fact that both accrual and real EM mediate and have a positive effect on COE. In financial institutions-owned firms, only a direct and positive effect can be observed on COE while state-owned firms do not have a direct influence on the COE, although they do reduce real EM, which, in turn, decreases the COE in a mediated effect. Further analysis comparing the Anglo-Saxon context with Continental Europe shows more detailed results. Practical implications The study marks its entry into the international debate on the evolution in the value relevance of accounting information by arguing that the COE implications of EM depend on institutional factors such as OS and the context investigated. Originality/value The paper contributes to extant finance, accounting and corporate governance literature by providing new, robust evidence on the mediating role of EM in defining COE for different ownership types and their diverse risk-taking propensities in Continental Europe, which differs from the Anglo-Saxon context both institutionally and legally.

A deterministic pseudo-fractal networks with time-delay

2015 ◽  
Vol 29 (22) ◽  
pp. 1550155 ◽  
Author(s):  
Changming Xing ◽  
Lin Yang ◽  
Jun Ma
Keyword(s):  
Time Delay ◽  
Path Length ◽  
Small World ◽  
Average Path Length ◽  
Clustering Coefficient ◽  
The Novel ◽  
Delay Effect ◽  
Scale Free ◽  
Topological Parameters ◽  
Novel Model

In this paper, inspired by the pseudo-fractal networks (PFN) and the delayed pseudo-fractal networks (DPFN), we present a novel delayed pseudo-fractal networks model, denoted by NDPFN. Different from the generation algorithm of those two networks, every edge of the novel model has a time-delay to generate new nodes after producing one node. We derive exactly the main structural properties of the novel networks: degree distribution, clustering coefficient, diameter and average path length. Analytical results show that the novel networks have small-world effect and scale-free topology. Comparing topological parameters of these three networks, we find that the degree exponent of the novel networks is the largest while the clustering coefficient and the average path length are the smallest. It means that this kind of delay could weaken the heterogeneity and the small-world features of the network. Particularly, the delay effect in the NDPFN is contrary to that in the DPFN, which illustrates the variety of delay method could produce different effects on the network structure. These present findings may be helpful for a deeper understanding of the time-delay influence on the network topology.

The model of microblog message diffusion based on complex social network

2014 ◽  
Vol 28 (20) ◽  
pp. 1450136 ◽  
Author(s):  
Wei Zhang ◽  
Shu-Ying Bai ◽  
Rui Jin
Keyword(s):  
Small World ◽  
Typical Feature ◽  
Negative Influence ◽  
Typical Case ◽  
Sina Weibo ◽  
Scale Free ◽  
Topological Features ◽  
Speed Up ◽  
The Rich

Microblog is a micromessage communication network in which users are the nodes and the followship between users are the edges. Sina Weibo is a typical case of these microblog service websites. As the enormous scale of nodes and complex links in the network, we choose a sample network crawled in Sina Weibo as the base of empirical analysis. The study starts with the analysis of its topological features, and brings in epidemiological SEIR model to explore the mode of message spreading throughout the microblog network. It is found that the network is obvious small-world and scale-free, which made it succeed in transferring messages and failed in resisting negative influence. In addition, the paper focuses on the rich nodes as they constitute a typical feature of Sina Weibo. It is also found that whether the message starts with a rich node will not account for its final coverage. Actually, the rich nodes always play the role of pivotal intermediaries who speed up the spreading and make the message known by much more people.

EFFECTS OF HETEROGENEOUS INFLUENCE OF INDIVIDUALS ON THE GLOBAL CONSENSUS

2010 ◽  
Vol 21 (08) ◽  
pp. 1011-1019 ◽  
Author(s):  
YING-TING LIN ◽  
HAN-XIN YANG ◽  
ZHI-HAI RONG ◽  
BING-HONG WANG
Keyword(s):  
Small World ◽  
Opinion Dynamics ◽  
Network Size ◽  
Power Exponent ◽  
Scale Free ◽  
Global Consensus ◽  
Optimal Value ◽  
Consensus Time ◽  
The Relationship

We propose an opinion dynamics model to study the effects of heterogeneous influence of individuals on the global consensus. Each individual is assigned a weight that is proportional to the power of its degree, where the power exponent α is an adjustable parameter. Interestingly, it is found that there exists an optimal value of α leading to the shortest consensus time for scale-free networks, random networks and small-world networks. Other quantities, such as the probability that an individual's initial opinion becomes the final opinion as a function of degree, the evolution of the number of opinion clusters, as well as the relationship between average consensus time and the network size, are also studied. Our results are helpful for understanding the role of heterogeneous influence in the opinion dynamics.

External Factors of Big Business Transformation in Russia

2005 ◽  
pp. 72-89 ◽  
Author(s):  
Ya. Pappe ◽  
Ya. Galukhina
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Business Groups ◽  
External Factors ◽  
Big Business ◽  
Business Transformation ◽  
Global Standards ◽  
The World ◽  
Principal Subject

The paper is devoted to the role of the global financial market in the development of Russian big business. It proves that terms and standards posed by this market as well as opportunities it offers determine major changes in Russian big business in the last three years. The article examines why Russian companies go abroad to attract capital and provides data, which indicate the scope of this phenomenon. It stresses the effects of Russian big business’s interaction with the world capital market, including the modification of the principal subject of Russian big business from integrated business groups to companies and the changes in companies’ behavior: they gradually move away from the so-called Russian specifics and adopt global standards.

Business-groups in Russian industries

2004 ◽  
pp. 121-134 ◽  
Author(s):  
S. Avdasheva
Keyword(s):  
Industrial Organization ◽  
Economic System ◽  
Institutional Economics ◽  
Business Groups ◽  
Control Rights ◽  
Organization And Management ◽  
Russian Economy ◽  
Main Determinants ◽  
Soviet Economic System

The chapter of “Institutional Economics” textbook is devoted to the development of business-groups as a specific feature of industrial organization in the Russian economy. The main determinants of forming and functioning of business-groups such as allocation of property rights in Soviet enterprises, networks of directors and executive authorities in the Soviet economic system as well as import of new institutes and inefficient state enforcement are in the center of analysis. Origins, structure, organization and management within the groups and the role of shareholding and informal control rights are considered.

USE OF INNOVATIVE TEACHING METHODS IN RUSSIAN LESSONS IN GROUPS WITH A NON-RUSSIAN TEACHING LANGUAGE

2020 ◽  
Vol 6 (3) ◽  
pp. 204-212
Author(s):  
Nigora Vokhidova ◽  
Keyword(s):  
Foreign Language ◽  
Teaching Methods ◽  
Group Work ◽  
Russian Language ◽  
Interactive Communication ◽  
Innovative Teaching ◽  
Teaching Language ◽  
New Methods ◽  
The Russian Language

The article discusses the effectiveness of innovative approaches in teaching Russian as a foreign language. It is noted that the use of new methods makes it possible to take into account the knowledge already acquired by the student for studying the Russian language and developing creative skills. The role of such a form of training as group work is shown, and some methods of interactive communication between students in practical classes in the Russian language are considered

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