Advanced Search
MyIDEAS: Login to save this article or follow this journal

Austrian Households’ Equity Capital – Evidence from Microdata

Contents:

Author Info

  • Michael Andreasch

    ()
    (Oesterreichische Nationalbank, External Statistics, Financial Accounts and Monetary and Financial Statistics)

  • Pirmin Fessler

    ()
    (Oesterreichische Nationalbank, Economic Analysis Division)

Abstract

To date, research on household wealth has seldom focused on households’ business equity holdings. Such equity stakes represent above all ownership in domestic limited liability companies. This study for the first time provides an empirical analysis of the distribution of Austrian households’ equity stakes in limited liability companies. For our analysis, we draw on data from three sources: the Company Register, a commercial database and the OeNB’s 2004 Survey on Financial Household Wealth. In 2005, some 3% of Austrian households possessed equity capital worth around EUR 22.3 billion, which equaled about 6% of total financial wealth. These equity investor households are characterized by above-average incomes and wealth. Compared with the other households, they are also much more frequently invested in risky assets, tend to own their principal residence and have considerably higher education levels. Such equity holdings are highly concentrated even within this group of investor households.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.oenb.at/dms/oenb/Publikationen/Volkswirtschaft/Monetary-Policy-and-the-Economy/2009/Monetary-Policy-and-the-Economy-Q4-09/chapters/mop_2009_q4_analyses_03_tcm16-181763.pdf
Download Restriction: no

Bibliographic Info

Article provided by Oesterreichische Nationalbank (Austrian Central Bank) in its journal Monetary Policy & the Economy.

Volume (Year): (2009)
Issue (Month): 4 ()
Pages: 61–78

as in new window
Handle: RePEc:onb:oenbmp:y:2009:i:4:b:3

Contact details of provider:
Postal: P.O. Box 61, A-1011 Vienna, Austria
Phone: +43/1/404 20 7405
Fax: +43/1/404 20 7499
Email:
Web page: http://www.oenb.at
More information through EDIRC

Order Information:
Postal: Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria
Email:

Related research

Keywords: households; business assets; private foundations; wealth distribution; limited liability;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Michael Andreasch & Pirmin Fessler & Martin Schürz, 2012. "Savings Deposits in Austria – A Safety Net in Times of Crisis," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 81–95.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:onb:oenbmp:y:2009:i:4:b:3. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudia Kwapil).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.