Information plays a very important role in economic activity. This manifests itself in many situations. The arbitrage pricing theory emphasizes the activity of entrepreneurs in finding and exploiting price differences between markets. Anyone who has credible information sooner and the ability to use it properly can make extraordinary profits. The majority of capital flows, especially speculative, results from the use of arbitrage pricing. It is important to remember that both speculation and arbitrage are about making money on price differences, although there is a clear distinction between these two activities. Speculation means earning money on price volatility during a certain period of time, while arbitrage means making profit on price differences on two or more markets at the same time. Arbitration leads to equalization of prices1. Difficult access of small businesses to capital is also related to the lack of adequate information or its asymmetry. Lack of information makes proper risk assessment impossible. In the agency theory access to reliable information also plays a very important role.
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