Kierunki zmian struktury obrotów na rynku giełdowym w Warszawie
Directions of changes in turnover structure on Warsaw Stock Exchange

Summary/Abstract: The study presents changes in the structure of trading on the Warsaw Stock Exchange by different investor groups. The article shows the structure of savings of Poles and the share of capital invested on the stock exchange. Currently savings structure is dominated by bank deposits and cash on current accounts. In 2016, only 3,6% savings were invested on the Stock market and only 3,5% of households held any shares. The percentage of Poles investing on the stock market is much lower in Poland compared to Western European countries. In Total turnover on the Warsaw Stock Exchange, the share of foreign investors grows systematically, while the share of domestic institutional and individual investors is falling. The underlying causes of the decrease in the share of individual investors on the stock market is the increase in the complexity of financial instruments and the wealth of societies. This entices investors to allocate free cash in mutual investment funds that transfer funds to markets and provide a higher rate of return.

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