A characteristics framework for Semantic Information Systems Standards

Semantic Information Systems (IS) Standards play a critical role in the development of the networked economy. While their importance is undoubted by all stakeholders—such as businesses, policy makers, researchers, developers—the current state of research leaves a number of questions unaddressed. Terminological confusion exists around the notions of “business semantics”, “business-to-business interoperability”, and “interoperability standards” amongst others. And, moreover, a comprehensive understanding about the characteristics of Semantic IS Standards is missing. The paper addresses this gap in literature by developing a characteristics framework for Semantic IS Standards. Two case studies are used to check the applicability of the framework in a “real-life” context. The framework lays the foundation for future research in an important field of the IS discipline and supports practitioners in their efforts to analyze, compare, and evaluate Semantic IS Standard

Credit risk with semimartingales and risk-neutrality

A no-arbitrage framework to model interest rates with credit risk, based on the LIBOR additive process, and an approach to price corporate bonds in incomplete markets, is presented in this paper. We derive the no-arbitrage conditions under different conditions of recovery, and we obtain new expressions in order to estimate the probabilities of default under risk-neutral measure

Business Process Management Education in Academia: Status, challenges, and Recommendations

In response to the growing proliferation of Business Process Management (BPM) in industry and the demand this creates for BPM expertise, universities across the globe are at various stages of incorporating knowledge and skills in their teaching offerings. However, there are still only a handful of institutions that offer specialized education in BPM in a systematic and in-depth manner. This article is based on a global educators’ panel discussion held at the 2009 European Conference on Information Systems in Verona, Italy. The article presents the BPM programs of five universities from Australia, Europe, Africa, and North America, describing the BPM content covered, program and course structures, and challenges and lessons learned. The article also provides a comparative content analysis of BPM education programs illustrating a heterogeneous view of BPM. The examples presented demonstrate how different courses and programs can be developed to meet the educational goals of a university department, program, or school. This article contributes insights on how best to continuously sustain and reshape BPM education to ensure it remains dynamic, responsive, and sustainable in light of the evolving and ever-changing marketplace demands for BPM expertise

Futures Studies in the Interactive Society

This book consists of papers which were prepared within the framework of the research project (No. T 048539) entitled Futures Studies in the Interactive Society (project leader: Éva Hideg) and funded by the Hungarian Scientific Research Fund (OTKA) between 2005 and 2009. Some discuss the theoretical and methodological questions of futures studies and foresight; others present new approaches to or procedures of certain questions which are very important and topical from the perspective of forecast and foresight practice. Each study was conducted in pursuit of improvement in futures fields

A model-driven method for the systematic literature review of qualitative empirical research

This paper explores a model-driven method for systematic literature reviews (SLRs), for use where the empirical studies found in the literature search are based on qualitative research. SLRs are an important component of the evidence-based practice (EBP) paradigm, which is receiving increasing attention in information systems (IS) but has not yet been widely-adopted. We illustrate the model-driven approach to SLRs via an example focused on the use of BPMN (Business Process Modelling Notation) in organizations. We discuss in detail the process followed in using the model-driven SLR method, and show how it is based on a hermeneutic cycle of reading and interpreting, in order to develop and refine a model which synthesizes the research findings of previous qualitative studies. This study can serve as an exemplar for other researchers wishing to carry out model-driven SLRs. We conclude with our reflections on the method and some suggestions for further researc

Credit cycles and macro fundamentals

We study the relation between the credit cycle and macro economic fundamentals in an intensity based framework. Using rating transition and default data of U.S. corporates from Standard and Poor’s over the period 1980–2005 we directly estimate the credit cycle from the micro rating data. We relate this cycle to the business cycle, bank lending conditions, and financial market variables. In line with earlier studies, these variables appear to explain part of the credit cycle. As our main contribution, we test for the correct dynamic specification of these models. In all cases, the hypothesis of correct dynamic specification is strongly rejected. Moreover, accounting for dynamic mis-specification, many of the variables thought to explain the credit cycle, turn out to be insignificant. The main exceptions are GDP growth, and to some extent stock returns and stock return volatilities. Their economic significance appears low, however. This raises the puzzle of what macro-economic fundamentals explain default and rating dynamics. JEL Classification: G11, G2

On Reduced Form Intensity-based Model with Trigger Events

Corporate defaults may be triggered by some major market news or events such as financial crises or collapses of major banks or financial institutions. With a view to develop a more realistic model for credit risk analysis, we introduce a new type of reduced-form intensity-based model that can incorporate the impacts of both observable "trigger" events and economic environment on corporate defaults. The key idea of the model is to augment a Cox process with trigger events. Both single-default and multiple-default cases are considered in this paper. In the former case, a simple expression for the distribution of the default time is obtained. Applications of the proposed model to price defaultable bonds and multi-name Credit Default Swaps (CDSs) are provided

Decision Support Tools for Cloud Migration in the Enterprise

This paper describes two tools that aim to support decision making during the migration of IT systems to the cloud. The first is a modeling tool that produces cost estimates of using public IaaS clouds. The tool enables IT architects to model their applications, data and infrastructure requirements in addition to their computational resource usage patterns. The tool can be used to compare the cost of different cloud providers, deployment options and usage scenarios. The second tool is a spreadsheet that outlines the benefits and risks of using IaaS clouds from an enterprise perspective; this tool provides a starting point for risk assessment. Two case studies were used to evaluate the tools. The tools were useful as they informed decision makers about the costs, benefits and risks of using the cloud.Comment: To appear in IEEE CLOUD 201