TY  - CHAP
PB  - Springer
T2  - Nonlinear dynamics and heterogeneous interacting agents
SN  - 978-3-540-27296-0
ED  - Lux, Thomas
ED  - Samanidou, Eleni
ED  - Reitz, Stefan
N2  - We study the statistical properties of the network of shareholding relationships in the Italian stock market (MIB) and in two US stock markets (NYSE and NASDAQ). The networks are found to be scale free a feature which doesn't seem to be in accord with classical theories of portfolio optimization. Several statistical properties differ across markets and allow for a classification. We introduce two quantities, HI and SI, analogous to in-degree and out-degree for weighted graphs. The distribution of HI and SI allow us to characterize from a statistical perspective the individual ownership concentration of stocks and the individual power of holders. They also suggest two different global pictures of the structure of the networks: the MIB seems characterized by medium size holders controlling separate subsets of stocks, while the US markets seem characterized by very large holders sharing control over subsets of stocks.
ID  - eprints1110
EP  - 199
UR  - http://dx.doi.org/10.1007/3-540-27296-8_13
M1  - III
A1  - Battiston, Stefano 
A1  - Garlaschelli, Diego
A1  - Caldarelli, Guido
Y1  - 2005///
KW  - Stock Market; Share-holding; Complex Networks; Scale-Free 
AV  - none
SP  - 189
TI  - The topology of shareholding networks
T3  - Lecture Notes in Economics and Mathematical Systems 
ER  -