This paper studies the stability of stock networks after crashes based on the entropy method. By measuring network stability using the entropy calculated with the degree distribution, we find that the entropy of a stock network is close to that of the Erdös-Rényi and Watts-Strogatz networks. We further introduce government rescue policies as a natural experiment and use the entropy measurement to study the influence of rescue policies after crashes on the network stability, finding that rescue policies only have short-term effects. Analysis of the relation between stock degrees and government purchasing behavior further confirms the effects of rescue policies on stock network stability.

本文基于熵的方法研究了股市崩溃后的稳定性。通过使用度分布计算的熵来测量网络稳定性，我们发现股票网络的熵接近于Erdös-Rényi网络和Watts-Strogatz网络。我们进一步引入政府救援策略作为自然实验，并使用熵测度研究崩溃后救援策略对网络稳定性的影响，发现救援策略仅具有短期影响。通过分析库存度与政府购买行为之间的关系，进一步确认了救助政策对库存网络稳定性的影响。