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. ..

Open semantic service networks

Online service marketplaces will soon be part of the economy to scale the provision of specialized multi-party services through automation and standardization. Current research, such as the *-USDL service description language family, is already defining the basic building blocks to model the next generation of business services. Nonetheless, the developments being made do not target to interconnect services via service relationships. Without the concept of relationship, marketplaces will be seen as mere functional silos containing service descriptions. Yet, in real economies, all services are related and connected. Therefore, to address this gap we introduce the concept of open semantic service network (OSSN), concerned with the establishment of rich relationships between services. These networks will provide valuable knowledge on the global service economy, which can be exploited for many socio-economic and scientific purposes such as service network analysis, management, and control

The Tacit Knowledge Problem in Multinational Corporations: Japanese and US Offshore Knowledge Incubators

This paper examines the ‘cognitive’ and ‘societal’ aspects of the tacit knowledge transfer problem in MNCs. Based on a comparative analysis of the overseas R&D labs of US and Japanese MNCs in the UK, it examines how home-based models of learning influence MNCs’ transnational social spaces for learning and their capabilities to address the tacit knowing problem. It illustrates how the US professional ‘networks of practice’ (NoP) and the Japanese organizational ‘communities of practice’ (CoP) approaches to transnational learning unfold in practice. It also examines how divergence between home and host country institutions governing knowledge production inhibits cross-societal tacit knowing.comparative thinking; tacit knowledge; knowledge transfer in MNCs; innovation and R&D; organizational learning; communities of practice

Personal Volunteer Computing

We propose personal volunteer computing, a novel paradigm to encourage technical solutions that leverage personal devices, such as smartphones and laptops, for personal applications that require significant computations, such as animation rendering and image processing. The paradigm requires no investment in additional hardware, relying instead on devices that are already owned by users and their community, and favours simple tools that can be implemented part-time by a single developer. We show that samples of personal devices of today are competitive with a top-of-the-line laptop from two years ago. We also propose new directions to extend the paradigm

The complex interaction between Global Production Networks, Digital Information Systems and International Knowledge Transfers

Traditionally many studies of knowledge in economics have focused on localized networks and intra-regional collaborations. However, the rising frequency by which firms collaborate within the context of global networks of production and innovation, the increasingly intricate divisions of labor involved and the extensive use of the Internet to facilitate interaction are all relatively novel trends that underline the importance of knowledge creation and flows across different locations. Focusing on this topic, the present chapter examines the complex interactions between global production networks (GPN), digital information systems (DIS) and knowledge transfers in information technology industries. It seeks to disentangle the various conduits through which different kinds of knowledge are transferred within such networks, and investigate how recent generations of DIS are affecting those knowledge transfers. The paper concludes that the dual expansion of GPN and DIS is adding new complexity to the practice of innovation: To access knowledge necessary for sustained creativity firms often have to link up with remote partners in GPN, but to be able to absorb and utilize this knowledge, they also frequently have to engage in local interactive learning processes. These local- global linkages - and the various skills necessary to operate them - are strongly interdependent, mutually reinforcing and critical for the development and maintenance of innovation-based competitiveness.