دانلود رایگان مقاله انگلیسی کلان داده ها در امور مالی و رشد شرکت های بزرگ - الزویر 2018

Abstract

Two modern economic trends are the increase in firm size and advances in information technology. We explore the hypothesis that big data disproportionately benefits big firms. Because they have more economic activity and a longer firm history, large firms have produced more data. As processor speed rises, abundant data attracts more financial analysis. Data analysis improves investors’ forecasts and reduces equity uncertainty, reducing the firm’s cost of capital. When investors can process more data, large firm investment costs fall by more, enabling large firms to grow larger.

5 Conclusion

Big data is transforming the modern economy. While many economists have used big data,  fewer think about how the use of data by others affects market outcomes. This paper starts to explore the ways in which big data might be incorporated in modern economic and financial  theory. One way that big data is used is to help financial market participants make more  informed choices about the firms in which they invest. These investment choices affect the prices, cost of capital, and investment decisions of these firms. We set up a very simple  model to show how such big data choices might be incorporated and one way in which the growth of big data might affect the real economy. But this is only a modest first step. One might also consider how firms themselves use data, to refine their products, to broaden their customer market, or to increase the efficiency of their operations. Such data, produced as a by-product of economic activity, might also favor the large firms whose abun dant economic activity produces abundant data.