IDEAS home Printed from https://ideas.repec.org/a/eee/chsofr/v107y2018icp26-38.html
   My bibliography  Save this article

Directed clustering in weighted networks: A new perspective

Author

Listed:
  • Clemente, G.P.
  • Grassi, R.

Abstract

Several definitions of clustering coefficient for weighted networks have been proposed in literature, but less attention has been paid to both weighted and directed networks. We provide a new local clustering coefficient for this kind of networks, starting from those already existing in the literature for the weighted and undirected case. Furthermore, we extract from our coefficient four specific components, in order to separately consider different link patterns of triangles. Empirical applications on several real networks from different frameworks and with different order are provided. The performance of our coefficient is also compared with that of existing coefficients.

Suggested Citation

  • Clemente, G.P. & Grassi, R., 2018. "Directed clustering in weighted networks: A new perspective," Chaos, Solitons & Fractals, Elsevier, vol. 107(C), pages 26-38.
    • Handle: RePEc:eee:chsofr:v:107:y:2018:i:c:p:26-38
    DOI: 10.1016/j.chaos.2017.12.007
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S096007791730509X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.chaos.2017.12.007?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mcassey, Michael P. & Bijma, Fetsje, 2015. "A clustering coefficient for complete weighted networks," Network Science, Cambridge University Press, vol. 3(2), pages 183-195, June.
    2. Zhang Bin & Horvath Steve, 2005. "A General Framework for Weighted Gene Co-Expression Network Analysis," Statistical Applications in Genetics and Molecular Biology, De Gruyter, vol. 4(1), pages 1-45, August.
    3. Rotundo, G. & Ausloos, M., 2010. "Organization of networks with tagged nodes and biased links: A priori distinct communities," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(23), pages 5479-5494.
    4. Stephanie Rend'on de la Torre & Jaan Kalda & Robert Kitt & Juri Engelbrecht, 2016. "On the topologic structure of economic complex networks: Empirical evidence from large scale payment network of Estonia," Papers 1602.04352, arXiv.org.
    5. Gergely Palla & Imre Derényi & Illés Farkas & Tamás Vicsek, 2005. "Uncovering the overlapping community structure of complex networks in nature and society," Nature, Nature, vol. 435(7043), pages 814-818, June.
    6. Giorgio Fagiolo, 2006. "Directed or Undirected? A New Index to Check for Directionality of Relations in Socio-Economic Networks," Economics Bulletin, AccessEcon, vol. 3(34), pages 1-12.
    7. Minoiu, Camelia & Reyes, Javier A., 2013. "A network analysis of global banking: 1978–2010," Journal of Financial Stability, Elsevier, vol. 9(2), pages 168-184.
    8. Tabak, Benjamin M. & Takami, Marcelo & Rocha, Jadson M.C. & Cajueiro, Daniel O. & Souza, Sergio R.S., 2014. "Directed clustering coefficient as a measure of systemic risk in complex banking networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 394(C), pages 211-216.
    9. Silva, Thiago Christiano & de Souza, Sergio Rubens Stancato & Tabak, Benjamin Miranda, 2016. "Structure and dynamics of the global financial network," Chaos, Solitons & Fractals, Elsevier, vol. 88(C), pages 218-234.
    10. Subramanian, Arvind & Wei, Shang-Jin, 2007. "The WTO promotes trade, strongly but unevenly," Journal of International Economics, Elsevier, vol. 72(1), pages 151-175, May.
    11. Monica Billio & Lorenzo Frattarolo & Hayette Gatfaoui & Philippe de Peretti, 2016. "Clustering in Dynamic Causal Networks as a Measure of Systemic Risk on the Euro Zone," Documents de travail du Centre d'Economie de la Sorbonne 16046r, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne, revised Sep 2016.
    12. M. Gligor & M. Ausloos, 2008. "Clusters in weighted macroeconomic networks: the EU case. Introducing the overlapping index of GDP/capita fluctuation correlations," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 63(4), pages 533-539, June.
    13. Barucca, Paolo & Lillo, Fabrizio, 2016. "Disentangling bipartite and core-periphery structure in financial networks," Chaos, Solitons & Fractals, Elsevier, vol. 88(C), pages 244-253.
    14. I. E. Antoniou & E. T. Tsompa, 2008. "Statistical Analysis of Weighted Networks," Discrete Dynamics in Nature and Society, Hindawi, vol. 2008, pages 1-16, May.
    15. Rendón de la Torre, Stephanie & Kalda, Jaan & Kitt, Robert & Engelbrecht, Jüri, 2016. "On the topologic structure of economic complex networks: Empirical evidence from large scale payment network of Estonia," Chaos, Solitons & Fractals, Elsevier, vol. 90(C), pages 18-27.
    16. Holme, Petter & Min Park, Sung & Kim, Beom Jun & Edling, Christofer R., 2007. "Korean university life in a network perspective: Dynamics of a large affiliation network," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 373(C), pages 821-830.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gian Paolo Clemente & Rosanna Grassi & Chiara Pederzoli, 2020. "Networks and market-based measures of systemic risk: the European banking system in the aftermath of the financial crisis," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 15(1), pages 159-181, January.
    2. Luu, Duc Thi & Lux, Thomas & Yanovski, Boyan, 2017. "Structural correlations in the Italian overnight money market: An analysis based on network configuration models," Economics Working Papers 2017-02, Christian-Albrechts-University of Kiel, Department of Economics.
    3. Gian Paolo Clemente & Rosanna Grassi & Asmerilda Hitaj, 2021. "Asset allocation: new evidence through network approaches," Annals of Operations Research, Springer, vol. 299(1), pages 61-80, April.
    4. Paolo Bartesaghi & Gian Paolo Clemente & Rosanna Grassi, 2021. "A tensor-based unified approach for clustering coefficients in financial multiplex networks," Papers 2105.14325, arXiv.org, revised Apr 2022.
    5. Tinic, Murat & Sensoy, Ahmet & Demir, Muge & Nguyen, Duc Khuong, 2020. "Broker Network Connectivity and the Cross-Section of Expected Stock Returns," MPRA Paper 104719, University Library of Munich, Germany.
    6. Miyakoshi, Tatsuyoshi & Shimada, Junji & Li, Kui-Wai, 2023. "A network analysis on country and financial center attractiveness: Evidence from Asian economies, 2001–2018," International Review of Economics & Finance, Elsevier, vol. 87(C), pages 418-432.
    7. Li, Jie & Wang, Lidan & Zhou, Zhong-Qiang & Zhang, Yongjie, 2021. "Monitoring or tunneling? Information interaction among large shareholders and the crash risk of the stock price," Pacific-Basin Finance Journal, Elsevier, vol. 65(C).
    8. Barroso, João Barata Ribeiro Blanco & Silva, Thiago Christiano & Souza, Sergio Rubens Stancato de, 2018. "Identifying systemic risk drivers in financial networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 650-674.
    9. Wang Yijie & Ke Yanyan & Ma Xianrui & Ren Yitian, 2020. "What is the Industrial Structure Changes of China?," Journal of Systems Science and Information, De Gruyter, vol. 8(6), pages 487-503, December.
    10. Kosmidou, Kyriaki & Kousenidis, Dimitrios & Ladas, Anestis & Negkakis, Christos, 2017. "Determinants of risk in the banking sector during the European Financial Crisis," Journal of Financial Stability, Elsevier, vol. 33(C), pages 285-296.
    11. Cerqueti, Roy & Deffains-Crapsky, Catherine & Storani, Saverio, 2022. "Similarity-based heterogeneity and cohesiveness of networked companies issuing minibonds," Chaos, Solitons & Fractals, Elsevier, vol. 164(C).
    12. Arribas, Iván & Peiró-Palomino, Jesús & Tortosa-Ausina, Emili, 2020. "Is full banking integration desirable?," Journal of Banking & Finance, Elsevier, vol. 112(C).
    13. Gian Paolo Clemente & Rosanna Grassi & Asmerilda Hitaj, 2018. "Asset allocation: new evidence through network approaches," Papers 1810.09825, arXiv.org.
    14. Pereira, Hernane Borges de Barros & Rosário, Raphael Silva do & Pereira, Eder Johnson de Area Leão & Moreira, Davidson Martins & Ferreira, Paulo & Miranda, José Garcia Vivas, 2022. "Network dynamic and stability on European Union," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 587(C).
    15. Ricca, Federica & Scozzari, Andrea, 2024. "Portfolio optimization through a network approach: Network assortative mixing and portfolio diversification," European Journal of Operational Research, Elsevier, vol. 312(2), pages 700-717.
    16. Ming Li & Wei Yu & Jun Zhang, 2023. "Clustering Analysis of Multilayer Complex Network of Nanjing Metro Based on Traffic Line and Passenger Flow Big Data," Sustainability, MDPI, vol. 15(12), pages 1-17, June.
    17. Vandermarliere, Benjamin & Karas, Alexei & Ryckebusch, Jan & Schoors, Koen, 2015. "Beyond the power law: Uncovering stylized facts in interbank networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 428(C), pages 443-457.
    18. Sensoy, Ahmet & Ozturk, Kevser & Hacihasanoglu, Erk & Tabak, Benjamin M., 2017. "Not all emerging markets are the same: A classification approach with correlation based networks," Journal of Financial Stability, Elsevier, vol. 33(C), pages 163-186.
    19. Bongini, Paola & Clemente, Gian Paolo & Grassi, Rosanna, 2018. "Interconnectedness, G-SIBs and network dynamics of global banking," Finance Research Letters, Elsevier, vol. 27(C), pages 185-192.
    20. Edgar J. Sánchez Carrera & Vanesa Avalos-Gaytán & Yajaira Cardona Valdés, 2019. "Synchronization of globalized economies," Working Papers 1909, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2019.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:chsofr:v:107:y:2018:i:c:p:26-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thayer, Thomas R. (email available below). General contact details of provider: https://www.journals.elsevier.com/chaos-solitons-and-fractals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.