Paper Title
Effects of Belt and Road Initiative on Chinese Stock Volatilities Connectivity: An Empirical Study of 5 Listed Chinese Companies

Abstract
This study concentrates on the dependence structure and risk volatility of five representative company stocks before and after the BRI launched. The study employs the C-vine copula approach to construct the dependency of each stocks and uses the Monte Carlo simulation technique to generate the simulated data to compute Value at Risk (VaR) and Conditional VaR (CVaR).The findings of the study show that the degree of dependence between inter-company increased in the Post-B&R period compared with in the former period. Moreover the investment risk of five stocks was significantly reduced after the release of the BRI, which reflects the positive impact of the BRI on the stocks of related Chinese enterprises. Keywords - The Belt and Road Initiative; Vine Copulas; Dependence structure; Risk volatility; Company stock