Resumen

PINO, Anderson; URIBE, Jorge M.  y  JIMENEZ, Diana M.. RELEVANCE OF INSTITUTIONAL INVESTORS IN THE COLOMBIAN EXCHANGE MARKET. Semest. Econ. [online]. 2017, vol.20, n.44, pp.45-65. ISSN 0120-6346.  https://doi.org/10.22395/seec.v20n44a3.

The objective of this article is to study and identify the relevance of institutional investors in the Colombian stock market by using the network methodology, the graph theory on property with information of 108 companies in year 2012. The results show a high degree of concentration of investors on the stock market; specifically, the pension funds play a significant role in the Colombian Stock Market. This is especially relevant for a small and not very liquid stock market as that in Colombia, where institutional investors play like liquidity provides or like systemic impact institutions during financial stress periods.

JEL CLASSIFICATION: G10, G23, G32

Palabras clave : Financial markets; institutional investors; pension funds; emerging markets; systemic risk; Colombia..

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