The Effects of Information Communication Technology on Stock Market Capitalization: A Panel Data Analysis
| Autor: | Sang Lee, Lara Gardner, Matthew Alford, John Cresson |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Finance
Market capitalization 050208 finance Primary market business.industry 05 social sciences Stock market bubble Financial market Geology Restricted stock Geotechnical Engineering and Engineering Geology Market depth Hardware and Architecture 0502 economics and business Economics Stock market 050207 economics business Industrial organization Financial market participants |
| Zdroj: | Business and Economic Research. 7:261 |
| ISSN: | 2162-4860 |
| DOI: | 10.5296/ber.v7i1.10936 |
| Popis: | The level of investment in information communication technologies (ICT) that may affect stock market capitalization varies substantially across countries. Using data on 81 countries from 1998 to 2014, we use a country-fixed effects model to estimate the relationship between ICTs and stock market capitalization. Our empirical model is built on the premise that (1) increased deployment of ICT allows financial market participants to make more informed decisions at reduced inherent risks associated with deficient information or uncertainty in financial markets; and (2) increased access to and use of information communication technologies is expected to improve a country's economic fundamentals. The empirical results support our hypothesis that ICT expansions are positively associated with stock market capitalization. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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