Practices and meanings of non-professional stock-trading in Taiwan : a case of relational work

Accepted for workshop on 21/11/2014PreprintNon peer reviewe

Consequences of firms'relational financing in the aftermath of the 1995 Mexican banking crisis

This paper shows that, in the aftermath of the 1995 banking crisis, relational financing was a two-edged sword for firms listed on the Mexican Securities Market. On the negative side, only bank-linked firms observed on average a dependence on cash stock to finance their investment projects. On the positive side, the banking connection was important to boost their profit rates during the 1997-2000 period, at least for financially healthy firms. These econometric results are derived from dynamic panel data models of investment and profit rates, which are estimated by the Generalized Method of Moments, where level and difference equations are combined into a system.relational financing, banking crisis, internal capital markets

Nonparametric Bayes dynamic modeling of relational data

Symmetric binary matrices representing relations among entities are commonly collected in many areas. Our focus is on dynamically evolving binary relational matrices, with interest being in inference on the relationship structure and prediction. We propose a nonparametric Bayesian dynamic model, which reduces dimensionality in characterizing the binary matrix through a lower-dimensional latent space representation, with the latent coordinates evolving in continuous time via Gaussian processes. By using a logistic mapping function from the probability matrix space to the latent relational space, we obtain a flexible and computational tractable formulation. Employing P\`olya-Gamma data augmentation, an efficient Gibbs sampler is developed for posterior computation, with the dimension of the latent space automatically inferred. We provide some theoretical results on flexibility of the model, and illustrate performance via simulation experiments. We also consider an application to co-movements in world financial markets

XQ2P: Efficient XQuery P2P Time Series Processing

In this demonstration, we propose a model for the management of XML time series (TS), using the new XQuery 1.1 window operator. We argue that centralized computation is slow, and demonstrate XQ2P, our prototype of efficient XQuery P2P TS computation in the context of financial analysis of large data sets (>1M values)

Rethinking bank business models: the role of intangibles

<p>Purpose: This paper provides a new way of rethinking banking models by using qualitative research on intangibles. This is required because the banking sector has been transformed significantly by the changing environment over the past two decades. The 2007-2009 financial crisis also added to concerns about existing bank business models.</p> <p>Design/Methodology approach: Using qualitative data collected from interviews with bank managers and analysts in the UK, this paper develops a grounded theory of bank intangibles.</p> <p>Findings: The model reveals how intangibles and tangible/financial resources interact in the bank value creation process, how they actively respond to environmental changes, how bank intangibles are understood by external observers such as analysts, and how bankers and analysts differ in their views.</p> <p>Research implications: Grounded theory provides the means to further develop bank models as business models and theoretical models. This provides the means to think beyond conventional finance constructs and to relate bank models to a wider theoretical literature concerning intellectual capital, organisational and social systems theory, and ‘performativity’.</p> <p>Practical implications: Such development of bank models and of a systems perspective is critical to the understanding of banks by bankers, by observers and for their ‘critical and reflexive performativity’. It also has implications for systemic risk and bank regulation.</p> <p>Social implications: Improvement in bank models and their use in open and transparent processes are key means to improve public accountability of banks.</p> <p>Originality: The paper reveals the core role of intellectual capital (IC) in banks, in markets, and in developing theory and research at firm and system levels. </p&gt

Information Technology as Coordination Infrastructure

Business information technology is traditionally viewed as information provision technology. In this view, organizations use their IT to implement databases that provide people with information when they want it. This view is persistent even though information provision is never an end in itself but always has the further purpose to support the coordination of activities of people. The role if IT as coordination technology became more prominent in the 1980s with the advent of network technology, that allowed activities across different businesses to be coordinated. This trend has accellerated since the growth of Internet usage, and today IT is used to support an increasingly varied range of processes performed by a variety of partners that do not all have a hierarchical relation to each other. This makes it difficult to analyze requirements for IT support and specify IT solutions: Business processes may not be well-defined, and interests of different businesses may clash. This report argues that to deal with this in requirements engineering and IT solution specification, business information technology should not be viewed as IT support for business processes but as IT support for the coordination of activities in one or more businesses. We will identify three basic coordination mechanisms, namely coordination by price, by management, and by shared norms, and for each of these mechanisms, we will identify requirements for IT support. The advent of flexible and standardized networking technology has facilitated the creation of novel coordination mechanisms within these three general paradigms, and we will give an inventory of generalized coordination mechanisms made possible by current IT. Finally, we will draw conclusions for requirements engineering methods for IT support for each of the coordination mechanisms identified by the framework

New Product Development and Product Supply Within a Network Setting: The Case of the Chilled Ready-Meal Industry in the UK

This paper analyses inter-organizational networks that link together firms operating in the food processing and distribution industry in the UK. In doing so, the paper draws on insights recently developed by Mark Casson that treat inter-firm networks as an institutional response to the changing costs and opportunities of information management. Detailed analysis of product innovation and supply chain management issues within the industry, exemplified by the growth of chilled ready-meals, leads to the identification of two distinct but complementary inter-firm networks: a network of control and a network of innovation. In each case, the study finds that the critical information is derived from the retailers’ interface with consumers and thus that these information-based networks are effectively controlled by the leading supermarket chains. The study’s conclusions are considered in relation to the recent findings of the Competition Commission following its investigation into grocery retailing in the UK