Wiki-peers: A dynamic measure of global firm networks

Lukas Fischer, Alexander Hillert, Michael Ungeheuer and Sebastian Müller

No 497, SAFE Working Paper Series from Leibniz Institute for Financial Research SAFE

Abstract: We introduce Wiki-Peers, a dynamic measure of global firm connections based on hyperlinks between firms' Wikipedia pages. Our network covers roughly 80% of global equity market capitalization across 68 countries. Wiki-Peers is constructed from complete page revision histories without look-ahead bias and available in real time. Wikipedia links identify economically meaningful peers and help study how information shocks propagate across markets. We demonstrate the measure's usefulness in predicting international trade, stock return co-movement, and stock returns of global peer firms.

Keywords: Global firm connections; global firm networks; international asset pricing; international trade; return predictability; information frictions (search for similar items in EconPapers)
JEL-codes: F1 G10 G12 G14 G15 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:safewp:344093

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