We uncover networks from news articles to study cross-sectional stock returns. By analyzing a huge dataset of more than 1 million news articles collected from the internet, we construct time-varying directed networks of the S&P500 stocks. The well-defined directed news networks are formed based...

Purpose: In order to investigate community structure of the component stocks of SSE (Shanghai Stock Exchange) 180-index, a stock correlation network is built to find the intracommunity and inter-community relationship. Design/methodology/approach: The stock correlation network is built taking...

Stocks are connected through common ownership of financial institutions. Firm shocks can be transmitted and amplified through these interconnections, aggregating into market level fluctuations. We formalize this intuition by estimating a parsimonious model using mutual fund holding data. The...