标题： 会计网络：金融机构对系统性危机的反应 显示英文标题

标题： The Accounting Network: how financial institutions react to systemic crisis

摘要： 在网络理论在金融危机研究中的作用近年来已被广泛注意到。 已经证明，网络拓扑结构以及在其上运行的动力学可以引发大规模系统性危机的爆发。 遵循这一方法论视角，我们在此引入会计网络，即通过向量相似性技术从公司财务报表中提取的网络。 我们在2001-2013年期间的一个全球银行大型数据库上构建了会计网络，涵盖了2007年中期全球金融危机的开始阶段。 在仔细的数据清理之后，我们在网络构建过程中进行质量检查，引入了一个参数（质量比率），能够权衡样本的大小（覆盖范围）和财务报表的代表性（准确性）。 我们计算了几种基本的网络统计指标，并使用Louvain社区检测算法检查银行的新兴社区。 值得注意的是，明显的区域聚合显现出来，日本和美国集群主导了社区结构，尽管存在一个地理上混合的社区，表明银行逐渐趋同于类似超国家的做法。 最后，主成分分析程序揭示了影响社区异质性的主要经济成分。 即使使用关于财务报表构成的最基本向量相似性假设，金融危机的特征在2008年左右的几年中明显出现。 我们最后讨论了如何改进会计网络以反映财务报表分析中的最佳实践。 显示英文摘要

摘要： The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques from companies' financial statements. We build the Accounting Network on a large database of worldwide banks in the period 2001-2013, covering the onset of the global financial crisis of mid-2007. After a careful data cleaning, we apply a quality check in the construction of the network, introducing a parameter (the Quality Ratio) capable of trading off the size of the sample (coverage) and the representativeness of the financial statements (accuracy). We compute several basic network statistics and check, with the Louvain community detection algorithm, for emerging communities of banks. Remarkably enough sensible regional aggregations show up with the Japanese and the US clusters dominating the community structure, although the presence of a geographically mixed community points to a gradual convergence of banks into similar supranational practices. Finally, a Principal Component Analysis procedure reveals the main economic components that influence communities' heterogeneity. Even using the most basic vector similarity hypotheses on the composition of the financial statements, the signature of the financial crisis clearly arises across the years around 2008. We finally discuss how the Accounting Networks can be improved to reflect the best practices in the financial statement analysis.