Electoral influences on the Brazilian B3 data correlation network
研究了2012至2016年巴西经济政治危机期间，2014年选举前后B3股票交易所资产相关网络结构的变化，发现银行在选举后集中度上升，最小方差组合的接近中心性指数变化约80%。
Abstract In any society, the relationship between economy and politics is characterized by controversy, enigmas and mysteries. Economic performance affects political results, and the political environment and its process produce financial results. Brazil was hit by economic and political crises from 2012 to 2016. Such crises made it possible to redesign the correlation network between the assets negotiated on the B3 (Brazil Stock Exchange and Over‐the‐Counter Market). This paper aimed to analyse the main aspects related to the topological structure of the assets negotiated on the B3 and its volatility between the pre‐and post‐2014 electoral periods. Results showed the hierarchical clusters and the evolution of the systemic risk, with the banks leading the concentration in the post‐electoral period. The closeness centrality indices for the minimum variance portfolios were modified by approximately 80% between the pre‐electoral and post‐electoral periods. It was concluded that the political events significantly changed the structure, the risk and the possibility of selecting assets for portfolios in the Brazilian market.