In this study, we establish a network structure of the Korean stock market, one of the emerging markets, with its minimum spanning tree through the correlation matrix. Base on this analysis, it is found that the Korean stock market doesn’t form the clusters of the business sectors or of the industry categories. When the MSCI (Morgan Stanley Capital International Inc.) index is exploited, we fou...

The Matrix-Forest Theorem the number of C>'-UUiiJL<hv.UA. obtained A J-cycle in G, for J ~ is a directed For any node i, an i-rooted tree in we mean a tree where one outgoing which has none. In other in the tree, the path between j and i in the tree directed towards tree is sometimes called an "in-directed arborescence".) If the tree reaches all the nodes m it is an i-rooted tree. For any node ...