Open AccessA Snapshot of the Ownership Network of the Budapest Stock Exchange
Author(s) -
Márton Gosztonyi
Publication year - 2021
Publication title -
financial and economic review
Language(s) - English
Resource type - Journals
eISSN - 2415-928X
pISSN - 2415-9271
DOI - 10.33893/fer.20.3.3158
Subject(s) - centrality , exponential random graph models , stock exchange , snapshot (computer storage) , issuer , stock market , stock (firearms) , computer science , business , econometrics , financial economics , graph , economics , random graph , finance , statistics , mathematics , theoretical computer science , engineering , geography , mechanical engineering , context (archaeology) , archaeology , operating system
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.