Recherchers economiques manageriales
Volume 20, Numéro 1, Pages 433-449
2026-06-10
The Economics Of The Data‑driven Firm: Measuring Intangible Capital, Innovation, And Competitive Advantage
Authors : Saifi Walid .
Abstract
The shift from industrial to digital, knowledge-based economies has transformed the modern firm's production function. Traditional accounting treats data acquisition and software as expenses, yet "superstar" firms' valuations reveal data as unmeasured intangible capital. This article examines data-driven firms through the Resource-Based View (RBV), showing how proprietary data flows yield sustainable competitive advantage. Data's non-rivalry and increasing returns challenge standard equilibrium models. Legal and sociological lenses highlight externalities like privacy erosion and market concentration. Analyzing productivity and market cap ratios, we expose the "intangible gap" in reporting, causing capital misallocation. We propose a new framework for valuing data assets to address these distortions.
Keywords
Intangible Capital ; Data Economics ; Market Concentration ; Competitive Advantage ; Resource‑Based View
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