Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 31, 2022 erstellt
Beschreibung:
The spread of minority equity interest by large investors within productive sectors has garnered theattention of major institutions worldwide. This work draws a picture of such “common ownership”in the European energy industry in 2007-2018, by means of novel indicators covering both the firm’s and the investor’s perspectives. We find that in the Oil&Gas sector BlackRock, Vanguard, StateStreet and Norway hold large amounts of market value, since their shares in the held companies amount to about 14.5% of the total assets in 2018. In the Electricity market, France and China play major roles, together with BlackRock and Vanguard, and hold about 17.2% of the market’s total assets. A sizeable amount of firms is also connected through block-holdings in their investor structures, particularly in the Oil&Gas sector, with a portion of them being strongly connected. From the shareholder’s perspective, we identify some large portfolios with high correlation of investment behaviour