BItNotes n°2
BItNotes n°2
"Market capitalisation, institutional sectors and household portafoglio. An analysis of the recents trends for the italian equity market"
L.Filippa, A.Franzosi - November 2001
Abstract
During the second half of the 90s, Italian retail investors participation in equity markets has become an important phenomenon, driven by deep changes in households attitude towards investment in shares. Until now aggregate data to quantify its dimension were not available. First goal of this paper is to solve this lack of information, providing an estimate of the distribution of domestic market capitalisation among institutional sectors. The main result highlights that from the end of 1999 retail investors hold more than 26% of the total market capitalisation. This result is in line with main European equity markets, as explained by an international comparison. In the meanwhile, the weight of Italian listed shares in households portfolio grew up to a level close to that of Treasury bonds.
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For further information please send an e-mail to:
luca.filippa@borsaitaliana.it or alessandra.franzosi@borsaitaliana.it