{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,18]],"date-time":"2026-08-18T15:53:47Z","timestamp":1787068427991,"version":"build-2736575974"},"reference-count":47,"publisher":"Emerald","issue":"7","license":[{"start":{"date-parts":[[2020,2,17]],"date-time":"2020-02-17T00:00:00Z","timestamp":1581897600000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IMDS"],"published-print":{"date-parts":[[2020,2,17]]},"abstract":"<jats:sec>\n                    <jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title>\n                    <jats:p>Non-financial corporate debt is one of the important sources of systematic risk in the real economy. Assessing a measure of systematic risk in corporation debt is currently a key challenge. In this regard, we propose a two-tier risk contagion networks model.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title>\n                    <jats:p>Assessing a measure of systematic risk in corporation debt is currently a key challenge. In this regard, we propose a two-tier risk contagion networks model based on four dimensions: concept definition, data structure, risk contagion network construction, and risk measurement indicators construction. We take the Jiangsu bond issuer guarantee network as a sample area.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title content-type=\"abstract-subheading\">Findings<\/jats:title>\n                    <jats:p>Taking the Jiangsu bond issuer guarantee network as a sample area, we find that there is a strong correlation between the debts of non-financial corporation in China, and it is easy to become a potential regional systematic risk source. In addition, our empirical research also reveals that external risk exposure and node degree of network are two key indicators when identifying key risk-contagion enterprises.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title>\n                    <jats:p>The main contributions of this study are two-fold. First, this article proposes a two-tier risk contagion networks model to measure systematic risk in non-financial corporation. Second, this article describes the structure of the corporate risk contagion network.<\/jats:p>\n                  <\/jats:sec>","DOI":"10.1108\/imds-09-2019-0495","type":"journal-article","created":{"date-parts":[[2020,2,24]],"date-time":"2020-02-24T10:08:41Z","timestamp":1582538921000},"page":"1287-1307","source":"Crossref","is-referenced-by-count":4,"title":["Debt risk analysis of non-financial corporates using two-tier networks"],"prefix":"10.1108","volume":"120","author":[{"given":"Yuan","family":"Cao","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Desheng","family":"Wu","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Lei","family":"Li","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","reference":[{"issue":"2","key":"key2020071803410057000_ref001","doi-asserted-by":"crossref","first-page":"564","DOI":"10.1257\/aer.20130456","article-title":"Systemic risk and stability in financial networks","volume":"105","year":"2015","journal-title":"American Economic Review"},{"issue":"1","key":"key2020071803410057000_ref002","doi-asserted-by":"crossref","first-page":"47","DOI":"10.1103\/RevModPhys.74.47","article-title":"Statistical mechanics of complex networks","volume":"74","year":"2002","journal-title":"Reviews of Modern Physics"},{"key":"key2020071803410057000_ref003","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1016\/j.jfs.2016.12.008","article-title":"Multiplex interbank networks and systemic importance an application to European data","volume":"35","year":"2018","journal-title":"Journal of Financial Stability"},{"issue":"1","key":"key2020071803410057000_ref004","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1086\/262109","article-title":"Financial contagion","volume":"108","year":"2000","journal-title":"Journal of Political Economy"},{"issue":"5","key":"key2020071803410057000_ref005","doi-asserted-by":"crossref","first-page":"1109","DOI":"10.1287\/opre.2016.1540","article-title":"Inhomogeneous financial networks and contagious links","volume":"64","year":"2016","journal-title":"Operations Research"},{"issue":"5439","key":"key2020071803410057000_ref006","doi-asserted-by":"crossref","first-page":"509","DOI":"10.1126\/science.286.5439.509","article-title":"Emergence of scaling in random networks","volume":"286","year":"1999","journal-title":"Science"},{"issue":"5939","key":"key2020071803410057000_ref007","doi-asserted-by":"crossref","first-page":"412","DOI":"10.1126\/science.1173299","article-title":"Scale-free networks: a decade and beyond","volume":"325","year":"2009","journal-title":"Science"},{"issue":"7","key":"key2020071803410057000_ref009","doi-asserted-by":"crossref","first-page":"804","DOI":"10.1002\/fut.21902","article-title":"Bank risk, financial stress, and bank derivative use","volume":"38","year":"2018","journal-title":"Journal of Futures Markets"},{"key":"key2020071803410057000_ref010","article-title":"Quaedvlieg R. 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