Big Data in Finance

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About this book

This edited book explores the unique risks, opportunities, challenges, and societal implications associated with big data developments within the field of finance. While the general use of big data has been the subject of frequent discussions, this book will take a more focused look at big data applications in the financial sector. With contributions from researchers, practitioners, and entrepreneurs involved at the forefront of big data in finance, the book discusses technological and business-inspired breakthroughs in the field. The contributions offer technical insights into the different applications presented and highlight how these new developments may impact and contribute to the evolution of the financial sector. Additionally, the book presents several case studies that examine practical applications of big data in finance. In exploring the readiness of financial institutions to adapt to new developments in the big data/artificial intelligence space and assessing different implementation strategies and policy solutions, the book will be of interest to academics, practitioners, and regulators who work in this field.

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Keywords

• Big data
• Artificial intelligence
• Quantitative trading
• Financial services
• Deep learning
• FinTech

Table of contents (12 chapters)

Front Matter

Introduction

Front Matter

Big Data in Finance: An Overview

• Thomas Walker, Frederick Davis, Tyler Schwartz

Big Data in the Financial Markets

Front Matter

Alternative Data

• Vincent Grégoire, Noah Jepson

An Algorithmic Trading Strategy to Balance Profitability and Risk

• Guillermo Peña

High-Frequency Trading and Market Efficiency in the Moroccan Stock Market

• El Mehdi Ferrouhi, Ibrahim Bouabdallaoui

Ensemble Models Using Symbolic Regression and Genetic Programming for Uncertainty Estimation in ESG and Alternative Investments

• Percy Venegas, Isabel Britez, Fernand Gobet

Big Data in Financial Services

Front Matter

Consumer Credit Assessments in the Age of Big Data

• Lynnette Purda, Cecilia Ying

Robo-Advisors: A Big Data Challenge

• Federico Severino, Sébastien Thierry

Bitcoin: Future or Fad?

• Daniel Tut

Culture, Digital Assets, and the Economy: A Trans-National Perspective

• John Fan Zhang, Zehuang Xu, Yi Peng, Wujin Yang, Haorou Zhao

Case Studies and Applications

Front Matter

Islamic Finance in Canada Powered by Big Data: A Case Study

• Imran Abdool, Mustafa Abdool

Assessing the Carbon Footprint of Cryptoassets: Evidence from a Bivariate VAR Model

• Hany Fahmy

A Data-Informed Approach to Financial Literacy Enhancement Using Cognitive and Behavioral Analytics

• Prasanta Bhattacharya, Kum Seong Wan, Boon Kiat Quek, Waseem Bak’r Hameed, Sivanithy Rathananthan

Back Matter

Editors and Affiliations

Department of Finance, Concordia University, Montreal, Canada

About the editors

Thomas Walker is a Full Professor of Finance and the Concordia University Research Chair in Emerging Risk Management at Concordia University, Montreal, Canada. Prior to academia, he worked for several years in the German consulting and industrial sector at Mercedes Benz, Utility Consultants International, Lahmeyer International, Telenet, and KPMG Peat Marwick.

Frederick Davis is an Associate Professor at the John Molson School of Business at Concordia University, Montreal, Canada. Prior to his academic career, he worked for several years in the government sector assisting communities with their economic development. His research interests include mergers and acquisitions, insider trading, big data, and other aspects of corporate finance.

Tyler Schwartz holds an MSc degree in Data Science and Business Analytics from HEC Montreal. He has served as a research assistant in the Department of Finance at Concordia University for over four years and is the co-author of an edited book collection on climate change adaptation as well as working papers on social impact bonds and the Sustainable Development Goals (SDGs).

Bibliographic Information

• Book Title : Big Data in Finance
• Book Subtitle : Opportunities and Challenges of Financial Digitalization
• Editors : Thomas Walker, Frederick Davis, Tyler Schwartz
• DOI : https://doi.org/10.1007/978-3-031-12240-8
• Publisher : Palgrave Macmillan Cham
• eBook Packages : Economics and Finance , Economics and Finance (R0)
• Copyright Information : The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
• Hardcover ISBN : 978-3-031-12239-2 Published: 04 October 2022
• Softcover ISBN : 978-3-031-12242-2 Published: 05 October 2023
• eBook ISBN : 978-3-031-12240-8 Published: 03 October 2022
• Edition Number : 1
• Number of Pages : XXV, 272
• Number of Illustrations : 10 b/w illustrations, 31 illustrations in colour
• Topics : Financial Engineering , Big Data