Mapping Firm Ownership Structure in the Islamic Republic: Parastatal and Private Sectors in Relational Perspective

In 2013, Iran’s Tehran Stock Exchange (TSE) listed 314 companies with a total market capitalization of over 60% of GDP, a significant increase from previous years. This study will utilize the new shareholding data for 2013-14 to measure ownership concentration, institutional ownership, and relative shares of private vs. semi-public capital by economic sector. In addition, the study attempts to map a more realistic political economy of firm ownership by coding particular institutional investors with their associated sociopolitical position in contemporary Iran. This would enable better assessment and analysis of the broad and growing swath of Iran’s economy in comparison with other MENA countries.