The assessment of equity of non-listed companies

The aim of this study is the assessment of the equity of all non-listed companies in five big countries : France, Germany, Italy, Spain, United Kingdom. This work contributes to a better knowledge of the value of the wealth of households, held as such equity. We present a homogenous measure of the book value of equity of non-listed companies, based upon the use of extensive databases, private (Amadeus, Osiris) and public (Bach). The assessment shows a very large amount of equity of non-listed companies in Germany. France, Italy and the United Kingdom follow with quite similar levels, Spain owning a lower amount. The assessment then leads to amounts of equity of non-listed companies in accordance with the economic significance of each country, but also with the kind of financial system more or less oriented towards financial markets. JEL classifications : E21, E22, G10Dietsch Michel, Weill Laurent. The assessment of equity of non-listed companies . In: Revue d'économie financière (English ed.), n°64, 2001. Saving and investment in Europe. pp. 205-217