K. Asatani, Hiroko Yamano, Masanao Ochi, I. Sakata
{"title":"全球投资的不平等结构:一个MA网络的分析与模拟","authors":"K. Asatani, Hiroko Yamano, Masanao Ochi, I. Sakata","doi":"10.1109/IEEM.2018.8607317","DOIUrl":null,"url":null,"abstract":"Companies considering investments should first examine the global economic structure. Despite the world becoming flatter every day, inequalities between countries still exist. However, any discussion about the emergence and continuation of such inequality remains controversial. In this study, we use a massive dataset of global mergers and acquisitions (M&A) to analyze the unequal capital relationship between countries. We find unilateral investment between pairs of countries that do not change over decades. To identify countries where investments or returns on investment accumulate, we simulate such accumulation by the movement of money between countries through M&A relationships. We formalize the iterative movement of investment/return capital using the PageRank algorithm. The simulation result illustrates a significant difference between countries: return on investments mostly accumulate in countries with high GDP per capita. Other countries have relatively few benefits compared to accumulating investment. Consequently, we conclude that the M&A network structure causes accumulation of returns in specific countries and results in continuous unilateral investment from rich countries to other countries.","PeriodicalId":119238,"journal":{"name":"2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Inequality Structure of Global Investment: Analysis and Simulation of an MA Network\",\"authors\":\"K. Asatani, Hiroko Yamano, Masanao Ochi, I. Sakata\",\"doi\":\"10.1109/IEEM.2018.8607317\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Companies considering investments should first examine the global economic structure. Despite the world becoming flatter every day, inequalities between countries still exist. However, any discussion about the emergence and continuation of such inequality remains controversial. In this study, we use a massive dataset of global mergers and acquisitions (M&A) to analyze the unequal capital relationship between countries. We find unilateral investment between pairs of countries that do not change over decades. To identify countries where investments or returns on investment accumulate, we simulate such accumulation by the movement of money between countries through M&A relationships. We formalize the iterative movement of investment/return capital using the PageRank algorithm. The simulation result illustrates a significant difference between countries: return on investments mostly accumulate in countries with high GDP per capita. Other countries have relatively few benefits compared to accumulating investment. Consequently, we conclude that the M&A network structure causes accumulation of returns in specific countries and results in continuous unilateral investment from rich countries to other countries.\",\"PeriodicalId\":119238,\"journal\":{\"name\":\"2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)\",\"volume\":\"29 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2018-12-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1109/IEEM.2018.8607317\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1109/IEEM.2018.8607317","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Inequality Structure of Global Investment: Analysis and Simulation of an MA Network
Companies considering investments should first examine the global economic structure. Despite the world becoming flatter every day, inequalities between countries still exist. However, any discussion about the emergence and continuation of such inequality remains controversial. In this study, we use a massive dataset of global mergers and acquisitions (M&A) to analyze the unequal capital relationship between countries. We find unilateral investment between pairs of countries that do not change over decades. To identify countries where investments or returns on investment accumulate, we simulate such accumulation by the movement of money between countries through M&A relationships. We formalize the iterative movement of investment/return capital using the PageRank algorithm. The simulation result illustrates a significant difference between countries: return on investments mostly accumulate in countries with high GDP per capita. Other countries have relatively few benefits compared to accumulating investment. Consequently, we conclude that the M&A network structure causes accumulation of returns in specific countries and results in continuous unilateral investment from rich countries to other countries.