 Brokers in beneficial ownership: A network approachKonstantinos Kostaris and Andreas Andrikopoulos International Review of Financial Analysis, 2023, vol. 88, issue C Abstract: We investigate beneficial ownership networks from 1999 to 2018 and find the presence of the small-world phenomenon, which fosters the participation of shareholders and public firms in beneficial ownership events. The small-world phenomenon is also associated with the presence of brokers, which are nodes that bridge shareholders with other shareholders and targets. Moreover, the beneficial ownership network is shaped by star nodes, that is, nodes that have many adjacent nodes, most of which are not connected to each other. Although star nodes affect the presence of the small-world phenomenon, there is weak evidence in support of the association of star nodes with the participation of shareholders and public firms in beneficial ownership events or with the probability of brokers' presence. Furthermore, we find that cash-on-hand and firm size seem to have the most significant impact on the probability of brokers' presence in the beneficial ownership network. Keywords: Beneficial ownership; Social networks; Small-world phenomenon; Stars; Brokers (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:88:y:2023:i:c:s105752192300217x DOI: 10.1016/j.irfa.2023.102701 Access Statistics for this article International Review of Financial Analysis is currently edited by B.M. Lucey More articles in International Review of Financial Analysis from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.