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. 2016 Dec 21;6:39467. doi: 10.1038/srep39467

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Copyright © 2016, The Author(s)

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Number of institutions |I(t)| (upper left panel), number of securities |S(t)| (upper right panel), number of different ownership relations L(t) = ∑_isA_is(t) (lower left panel) and total market value MV(t) = ∑_isW_is(t)p_s(t), (lower right panel) where p_s(t) and σ_s(t) = ∑_iW_is(t) are the price and number of outstanding shares of security s at time t, respectively. Solid lines correspond to a locally weighted least squares regression (loess) of data points with 0.2 span.