Cross-Shareholdings Structural Characteristic and Evolution Analysis Based on Complex Network

This study depicts the network morphology of firms which establish ties through cross-shareholdings by the theory of complex network analysis method. It calculates some complex network properties of the cross-shareholdings network and analyzes the evolution law of network structure in nearly 7 years. The network clearly displays small world properties and scale-free properties. The cross-shareholdings network average path length and clustering coefficient is with a small amplitude fluctuation; the network structure is relatively stable. Such a study is of practical importance and could provide opportunities for policy makers to improve the performance of the cross-shareholdings network.