Stress testing of financial systems has been increasingly important after several financial crises in recent years, thereby drawing keen attention to the choice of appropriate stress scenarios to effectively test the robustness of the systems. To this end, we consider the problem of identifying...

Realistic credit risk assessment, the estimation of losses from counterparty's failure, is central for the financial stability. Credit risk models focus on the financial conditions of borrowers and only marginally consider other risks from the real economy, supply chains in particular. Recent...

The connections and volatilities of financial institutions are important features in studies on the financial market. Based on the tail-event-driven networks reflecting the risk interdependence between financial institutions, we introduce quantile regression to achieve the dynamic ranking of...

We investigate the impact of inter-firm connections on alliances. We find that both professional connections and social connections, borne out of board interlocks, employment ties and educational ties, increase the likelihood of alliance formation. In addition, the market reacts more favorably...

This article studies a networked organization in which agents work to directly increase the team’s output and help neighbors to reduce the disutility of working. I establish the existence and uniqueness of the equilibrium of a two-stage game in which agents first decide how much helping effort...

Accelerating the development of the digital economy and building digital industrial clusters with international competitiveness has become an important connotation of China's high-quality economic development. From the perspective of the digital economy, this paper makes an in-depth study of the...

Location Analysis in Simple Economic Activity Stage -- Background and Contents of Analysis in Part I.-Factory Location in Plane Space -- Locational Influence of Competition Modes in Spatial Market -- Factory Location in Circumference Space -- Location Analysis of Economic Activities in the...