▁mass ▁surve ill ance ▁helps ▁the ▁political ▁and ▁industrial ▁leaders ▁to ▁am ass ▁large ▁volumes ▁of ▁information , ▁which ▁is ▁typically ▁not ▁shared ▁with ▁the ▁rest ▁of ▁the ▁society . ▁ ▁Application ▁in ▁research ▁ ▁Account ing ▁and ▁Fin ance ▁ ▁A ▁substantial ▁portion ▁of ▁research ▁in ▁the ▁field ▁of ▁account ing ▁can ▁be ▁fr amed ▁in ▁terms ▁of ▁information ▁asym met ry , ▁since ▁account ing ▁involves ▁the ▁transmission ▁of ▁an ▁enter prise ' s ▁information ▁from ▁those ▁who ▁have ▁it ▁to ▁those ▁who ▁need ▁it ▁for ▁decision - making . ▁Like wise , ▁in ▁fin ance ▁literature , ▁the ▁acknowled gment ▁of ▁information ▁asym met ry ▁between ▁organizations ▁challeng ed ▁the ▁Mod igli ani – M iller ▁theorem , ▁which ▁states ▁that ▁the ▁valu ation ▁of ▁a ▁firm ▁is ▁una ffect ed ▁by ▁its ▁financial ▁structure . ▁Information ▁asym met ry ▁shed ▁light ▁on ▁the ▁importance ▁of ▁align ing ▁interests ▁of ▁man agers ▁with ▁those ▁of ▁st ake hold ers . ▁Furthermore , ▁financial ▁econom ists ▁apply ▁information ▁asym met ry ▁in ▁studies ▁of ▁differential ly ▁informed ▁financial ▁market ▁participants ▁( ins iders , ▁stock ▁anal yst s , ▁invest ors , ▁etc .) ▁or ▁in ▁the ▁cost ▁of ▁fin ance ▁for ▁M F Is . ▁ ▁Effect ▁of ▁blog ging ▁ ▁The ▁effect ▁of ▁blog ging ▁as ▁a ▁source ▁of ▁information ▁asym met ry ▁as ▁well ▁as ▁a ▁tool ▁reduce ▁asym metric ▁information ▁has ▁also ▁been ▁well ▁studied . ▁B logging ▁on ▁financial ▁websites ▁provides ▁bottom - up ▁communication ▁among