Template-Type: ReDIF-Article 1.0

Author-Name: Marton Gosztonyi
Author-Workplace-Name: Budapest Business School
Author-Email: gosztonyi.marton@uni-bge.hu


Title: A Snapshot of the Ownership Network of the Budapest Stock Exchange

Abstract: In this study, I use the toolkit of network research to explore the network of
ownership relations of entities present on the Budapest Stock Exchange as issuers
in 2020, applying static methods and exponential random graph modelling (ERGM)
analysis. In the snapshot typology and simulation-based capture of the network,
not only the network of relations between issuers present on the stock market is
analysed, but also the ownership relations of companies connected to the network
but not listed on the stock market; thus, the study addresses the ownership network
associated with the stock exchange as a whole. The research results provide us
with an accurate answer about the morphological characteristics of the network,
the network factors determining centrality, the hierarchy of the network, and the
evolution of the network with the help of simulations. The study may allow us to
obtain a clearer picture of the interlinkages and clusters of companies listed on the
stock market, which can be used as a basis for subsequent longitudinal analyses.

Classification-JEL: H54, D53, L14
Keywords: Budapest Stock Exchange, complex systems, network analysis, company ownership
Pages: 31-58
Volume: 20
Issue: 3
Year: 2021
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-20-3-st2-gosztonyi.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:20:y:2021:i:3:p:31-58