Governing the "New Economy": a 3-Phase Historical Model of Cumulative Gales of Creative Destruction of the United Kingdom Internet Service Providers' Market

This article documents the industrial dynamics and the innovation processes inherent in the fast emerging dial-up Internet access segment of the new telecommunication sector in the United Kingdom for the period between 1992 - 2002. It shows that evolving market structures and related products and service innovation in the wholesale and retail branches of the UK Internet Service Providers' market have to be understood in the context of: a) an entrepreneurial thrust that seizes the advantage of a glut of finance accumulated from the privatization of the utilities; b) the evolution of the relationship between the UK voice and data transfer markets after the privatization of British Telecommunications and the strategic development of its 'intelligent network'; c) the related network technologies and services available for deployment at the start of the implementation of the Internet as a mass infrastructure; d) BT's quasi-monopoly in call origination and finally e) the wider evolutionary industrial dynamics, i.e. a cumulative process of conjectures and feedback loops of market power, strategic management and transformation in corporate and institutional governance following the market's expansion and the transition from metered to unmetered dial up Internet access.innovation and industrial dynamics, dial-up Internet, United Kingdom

The Impact of Information Technology on Global Capital Market Operations: A Critical Appraisal of Some Selected Developed and Emerging Markets

This study evaluates the impact of information technology on global capital markets operation with particular reference to the equity markets using a simple percentage and multiple regression analyses. Technology has fundamentally changed the landscape of the global financial market place by lowering transaction costs and thus leveling the playing field for investors and issuers. The data in the present study were collected from WFE, IMF, WEO from 2001 to 2010 for some selected developed and emerging markets, and through the use of a structured questionnaire. Equity market developments and its indicators as a whole were regressed against ICT developments indicators (i.e. telecommunication industry, internet technology, computer and regulatory industry and cloud computing technology). Using equity markets development as a dependent variable, the results disclose that ICT development indicators were all correct and positively signed. Information Technology have contributed to the growth of the global equity markets, with the effects mostly reflected in the aggregates of the equity markets indicators. Keywords: ICT, Market, transaction, investors, cost, operation, market, developmen

E-finance-lab at the House of Finance : about us

The financial services industry is believed to be on the verge of a dramatic [r]evolution. A substantial redesign of its value chains aimed at reducing costs, providing more efficient and flexible services and enabling new products and revenue streams is imminent. But there seems to be no clear migration path nor goal which can cast light on the question where the finance industry and its various players will be and should be in a decade from now. The mission of the E-Finance Lab is the development and application of research methodologies in the financial industry that promote and assess how business strategies and structures are shared and supported by strategies and structures of information systems. Important challenges include the design of smart production infrastructures, the development and evaluation of advantageous sourcing strategies and smart selling concepts to enable new revenue streams for financial service providers in the future. Overall, our goal is to contribute methods and views to the realignment of the E-Finance value chain. ..

An Overview and Examination of the Indian Services Sector

India’s service sector has grown rapidly since the 1990s. Domestic demand for services has increased as incomes have risen, triggering the expansion of industries such as banking, education, and telecommunications. Exports have also increased rapidly, led by information technology and business process outsourcing (IT-BPO). India’s ability to offer low-cost, high-quality IT-BPO services has made it a world leader in this industry. However, employment in services has not grown as quickly as output. The majority of India’s jobseekers are low-skilled, but demand for workers is growing fastest in higher-skill industries. The supply of highly-skilled workers has not kept pace with demand, causing wages to increase faster for these workers than for lower-skilled ones. India’s government has supported the growth of service industries through a mix of deregulation, liberalization, and incentive programs, such as the Software Technology Parks of India. Nevertheless, burdensome regulations, poor infrastructure, and foreign investment restrictions continue to affect service firms’ ability to do business. USITC analysis suggests that additional liberalization would lead to an increase in India’s imports of services

On the Fly Orchestration of Unikernels: Tuning and Performance Evaluation of Virtual Infrastructure Managers

Network operators are facing significant challenges meeting the demand for more bandwidth, agile infrastructures, innovative services, while keeping costs low. Network Functions Virtualization (NFV) and Cloud Computing are emerging as key trends of 5G network architectures, providing flexibility, fast instantiation times, support of Commercial Off The Shelf hardware and significant cost savings. NFV leverages Cloud Computing principles to move the data-plane network functions from expensive, closed and proprietary hardware to the so-called Virtual Network Functions (VNFs). In this paper we deal with the management of virtual computing resources (Unikernels) for the execution of VNFs. This functionality is performed by the Virtual Infrastructure Manager (VIM) in the NFV MANagement and Orchestration (MANO) reference architecture. We discuss the instantiation process of virtual resources and propose a generic reference model, starting from the analysis of three open source VIMs, namely OpenStack, Nomad and OpenVIM. We improve the aforementioned VIMs introducing the support for special-purpose Unikernels and aiming at reducing the duration of the instantiation process. We evaluate some performance aspects of the VIMs, considering both stock and tuned versions. The VIM extensions and performance evaluation tools are available under a liberal open source licence

Impact of Weather on the Stock Market Returns of Different Industries in Germany

Weather affects people’s mood, according to psychological studies. For example, low temperature can cause aggression, whereas high temperature can induce apathy. Therefore, it may be possible that weather-influenced mood, driven by mood’s impact on decision-making, exerts an influence on investment decisions and risk-taking behaviour. Thereby, it might also impact stock market returns. I examine market returns of nine industries in Germany. Empirical results illustrate two findings. First, a statistically significant, negative correlation between market returns and temperature, second, a different effect of weather on industrial sectors is identified. A significant correlation can be found for six out of nine sectors. Keywords: Stock markets; investor behaviour; weather effect; market returns; decision-making

Cloud computing and prospective business and economic impacts in developing country: A case study of Thailand

The cloud computing model is a modern concept of computation that provides a number of benefits for its adopters. This online computing model has been widely used in the western world and accepted to have some business and economic impacts. This paper provides some basic knowledge about cloud computing along with its economic benefits. The author proposes that there is an endogenous relationship between the cloud computing and each of the business and economic variables, namely output, employment, and labour productivity. In order to forecast the impacts of the cloud computing adoption, the Vector Autoregressive (VAR) model is constructed. Thailand is selected as ground for investigation. Apart from the bi-directional causality, the results also show prospective positive impacts of the cloud computing adoption on the growth of output, employment, and labour productivity. Despite the macroeconomic benefits, some policy implications include the encouragement of the cloud computing adoption in universities and banks in order to realise the benefit of scalability and efficient usage of computing resources. --Cloud computing,Macroeconomic indicators,Forecast,Thailand

Preventing and Mitigating Natural Disasters

This report highlights the importance of developing and sharing information on natural hazards, ensuring that the disaster-management community, decision-makers and the public understand the risks posed by these hazards and recognize the onset of hazardous weather and its impact on safety and survival procedures. Educational levels: High school, Undergraduate lower division, Undergraduate upper division, Graduate or professional, Informal education, General public

FinTech ecosystem as an instrument of sustainable development provision

Purpose: The article aims to determine the relationship between the FinTech ecosystem and ensuring a stable path of economic growth in the context of digitalization. The transition to digitalization of the financial sector is accompanied by a fundamentally new, qualitative transformation of socioeconomic relations in society. Design/Methodology/Approach: As part of the study, the concept of FinTech was considered both in the context of technological innovation and in the context of companies utilizing these innovations in business, as well as the systematization of business models of the FinTech industry. The classification of horizontal and vertical innovations of the financial industry is given. The authors presented the structure of the FinTech ecosystem as an instrument for ensuring sustainable. Findings: For the successful development of the FinTech ecosystem, the authors of the study presented a number of initiatives, the implementation of which will ensure the maintenance of the financial system stability, protection of consumer rights, as well as the digital innovations’ development and implementation. Practical Implications: The formation of a sustainable digital financial infrastructure tends to ensure the effective provision of services in the financial market, including for small and medium-sized companies, which will increase the availability of financial services and promote competition in the financial sector. Originality/Value: The key contribution of the study is the ecosystem approach, which allowed determining the possibilities of safe sustainable development of the financial sector.peer-reviewe

Model for cryptography protection of confidential information

УДК 004.056 Борсуковський Ю.В., Борсуковська В.Ю. Модель криптографічного захисту конфіденційної інформації В даній статті проведено детальний аналіз вимог щодо формування моделі криптографічного захисту конфіденційної інформації. Розглянуто використання засобів криптографічного захисту інформації з метою реалізації організаційних та технічних заходів по запобіганню витокам конфіденційної інформації на об’єктах критичної інфраструктури. Сформульовані базові вимоги та рекомендації щодо структури та функціональних складових моделі захисту конфіденційної інформації. Формалізовані вимоги щодо створення, впровадження та експлуатації превентивних процедур управління багатоступінчатим захистом конфіденційної інформації. Наведено приклад використання моделі криптографічного захисту інформації для створення захищеної і прозорої в використанні бази аутентифікаційних даних користувача. Запропонована модель захисту дозволяє мати кілька ступенів програмного та апаратного захисту, що із однієї сторони спрощує їх використання при виконанні чинних політик безпеки і зменшує ймовірність дискредитації аутентифікаційних даних, а із іншої сторони підвищує ймовірність виявлення зловмисних дій третьої сторони за рахунок багатоступінчатої системи захисту. Враховано практичний досвід створення типових моделей захисту конфіденційної інформації для розробки, впровадження та управління сучасними політиками інформаційної безпеки щодо питань використання засобів криптографічного захисту конфіденційної інформації на підприємствах різних форми власності.UDC 004.056 Borsukovskyi Y., Borsukovska V. Model for Cryptography Protection of Confidential Information Current article provides the detailed analysis of requirements for creation of model for cryptography protection of confidential information. Article defines the use of information cryptography protection tools in order to ensure the application of organizational and technical actions to prevent leakage of confidential information at critical infrastructure assets. It provides the basic requirements for the structure and functional elements of model for protection of confidential information. Formalize requirements on creation, implementation and exploitation of preventive procedure in management of multi-level protection of confidential information. The article includes example of use of model for cryptography protection of information for creation of secure and transparent in use the authenticating data base of user. The presented model of protection ensures to have a few levels of firewalls, that, on one hand, simplifies its use in execution of acting security policies and decrease the probability of discrediting of authenticating data, and, on other hand, increase the probability to detect the criminal actions of third party by means of multi-level protection system. It considers the practical experience in creation of standard models for protection of confidential information for development, implementation and management of modern policies on information security in part of use of cryptography protection tools for confidential information at enterprises of different forms of incorporation