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This paper aims to contribute to recent debates about financial knowledge by opening the black box of its algorithmization to understand how information systems can address the major challenges related to interactions between algorithmic trading and financial markets.

The paper analyses financial algorithms in three steps. First, the authors introduce the phenomenon of flash crash; second, the authors conduct an epistemological analysis of algorithmization and identify three epistemological regimes – epistemic, operational and authority – which differ in terms of how they deal with financial information. Third, the authors demonstrate that a flash crash emerges when there is a disconnection between these three regimes.

The authors open the black box of financial algorithms to understand why flash crashes occur and how information technology research can address the problem. A flash crash is a very rapid and deep fall in security prices in a very short time due to an algorithmic misunderstanding of the market. Thus, the authors investigate the problem and propose an interdisciplinary approach to clarify the scope of algorithmization of financial markets.

To manage the misalignment of information and potential disconnection between the three regimes, the authors suggest that information technology can embrace the complexity of the algorithmization of financial knowledge by diversifying its implementation through the development of a multi-sensorial platform. The authors propose sonification as a new mechanism for capturing and understanding financial information. This approach is then presented as a new research area that can contribute to the way financial innovations interact with information technology.

Problems are experienced when introducing computerised systems by libraries in countries remote from the major centres of development and expertise in the field of library computerisation. Main problems identified are those of lack of expertise of librarians and of hardware and software suppliers, a limited market for such systems in these ‘remote’ countries and hence a limited range of appropriate hardware and particularly software available or marketed, a reliance on the products and support of major computer suppliers, and access to relatively limited resources leaving little scope for the adaptation of existing library software to suit local needs or for the development of new systems. Solutions to these problems lie in cooperation and coordination of library computerisation so that maximum benefit can be derived from available resources and expertise, a conscious effort being made to become as self‐reliant as available resources will allow, the use of library systems developed abroad with as little adaptation as possible being made to them, the careful evaluation of those systems available as well as of their suppliers, and possibly in future a greater use of dedicated mini‐ and microcomputer‐based systems as such systems become more readily available. The problems and solutions discussed are illustrated by referring to the experience of library computerisation in the Republic of South Africa.

Notwithstanding a number of studies that led to the development of different performance measurement systems incorporating contingency factors, very scarce research on the variety of balanced scorecards (BSCs) indicators used in performance management were carried out in France. Accordingly, the purpose of this paper is to investigate if there is a significant relationship between contingency factors and the content of balanced scorecards in terms of the degree of use and a variety of performance indicators.

In total, 2,580 French intermediate-sized enterprises (ISE) were identified through the Diane Database (Bureau Van Dijck) then contacted by the means of a survey questionnaire that was built online using LimeSurvey software. This study receives 156 complete and usable responses. The research model was tested through multiple regressions and multi-group analyses.

The results show that ISEs financial managers do not use, to the same extent, all the indicators constituting the four dimensions of BSCs. Therefore, BSCs implemented by French ISEs can be described as “unbalanced”. Furthermore, three contingency factors (computerization, decentralization and market listing) were found to be significantly associated with the variety and degree of use of performance indicators in balanced scorecards. The remaining contingency and control factors did not seem to influence the degree of use and variety of BSCs content.

The findings highlight the importance of developing tools that have the potential to evolve in line with organizational, environmental and technological changes. Furthermore, this paper provides food for thought for financial directors and management controllers as to how to better meet senior management, managers and operational staff information needs.

While there is scarce academic work on BSCs in ISEs, the present research is, to the best of the knowledge, one of the rarest to apply and test a contingency approach on a sample of ISEs.

Preface The functions of business divide into several areas and the general focus of this book is on one of the most important although least understood of these—DISTRIBUTION. The particular focus is on reviewing current practice in distribution costing and on attempting to push the frontiers back a little by suggesting some new approaches to overcome previously defined shortcomings.

Information and communications technology (ICT) offers enormous opportunities for individuals, businesses and society. The application of ICT is equally important to economic and non-economic activities. Researchers have increasingly focused on the adoption and use of ICT by small and medium enterprises (SMEs) as the economic development of a country is largely dependent on them. Following the success of ICT utilisation in SMEs in developed countries, many developing countries are looking to utilise the potential of the technology to develop SMEs. Past studies have shown that the contribution of ICT to the performance of SMEs is not clear and certain. Thus, it is crucial to determine the effectiveness of ICT in generating firm performance since this has implications for SMEs’ expenditure on the technology. This research examines the diffusion of ICT among SMEs with respect to the typical stages from innovation adoption to post-adoption, by analysing the actual usage of ICT and value creation. The mediating effects of integration and utilisation on SME performance are also studied. Grounded in the innovation diffusion literature, institutional theory and resource-based theory, this study has developed a comprehensive integrated research model focused on the research objectives. Following a positivist research paradigm, this study employs a mixed-method research approach. A preliminary conceptual framework is developed through an extensive literature review and is refined by results from an in-depth field study. During the field study, a total of 11 SME owners or decision-makers were interviewed. The recorded interviews were transcribed and analysed using NVivo 10 to refine the model to develop the research hypotheses. The final research model is composed of 30 first-order and five higher-order constructs which involve both reflective and formative measures. Partial least squares-based structural equation modelling (PLS-SEM) is employed to test the theoretical model with a cross-sectional data set of 282 SMEs in Bangladesh. Survey data were collected using a structured questionnaire issued to SMEs selected by applying a stratified random sampling technique. The structural equation modelling utilises a two-step procedure of data analysis. Prior to estimating the structural model, the measurement model is examined for construct validity of the study variables (i.e. convergent and discriminant validity).

The estimates show cognitive evaluation as an important antecedent for expectation which is shaped primarily by the entrepreneurs’ beliefs (perception) and also influenced by the owners’ innovativeness and culture. Culture further influences expectation. The study finds that facilitating condition, environmental pressure and country readiness are important antecedents of expectation and ICT use. The results also reveal that integration and the degree of ICT utilisation significantly affect SMEs’ performance. Surprisingly, the findings do not reveal any significant impact of ICT usage on performance which apparently suggests the possibility of the ICT productivity paradox. However, the analysis finally proves the non-existence of the paradox by demonstrating the mediating role of ICT integration and degree of utilisation explain the influence of information technology (IT) usage on firm performance which is consistent with the resource-based theory. The results suggest that the use of ICT can enhance SMEs’ performance if the technology is integrated and properly utilised. SME owners or managers, interested stakeholders and policy makers may follow the study’s outcomes and focus on ICT integration and degree of utilisation with a view to attaining superior organisational performance.

This study urges concerned business enterprises and government to look at the environmental and cultural factors with a view to achieving ICT usage success in terms of enhanced firm performance. In particular, improving organisational practices and procedures by eliminating the traditional power distance inside organisations and implementing necessary rules and regulations are important actions for managing environmental and cultural uncertainties. The application of a Bengali user interface may help to ensure the productivity of ICT use by SMEs in Bangladesh. Establishing a favourable national technology infrastructure and legal environment may contribute positively to improving the overall situation. This study also suggests some changes and modifications in the country’s existing policies and strategies. The government and policy makers should undertake mass promotional programs to disseminate information about the various uses of computers and their contribution in developing better organisational performance. Organising specialised training programs for SME capacity building may succeed in attaining the motivation for SMEs to use ICT. Ensuring easy access to the technology by providing loans, grants and subsidies is important. Various stakeholders, partners and related organisations should come forward to support government policies and priorities in order to ensure the productive use of ICT among SMEs which finally will help to foster Bangladesh’s economic development.

Although chiefly anecdotal, reports that performance is enhanced through technology has encouraged many marketers to adopt computer systems. To examine this issue, 183 industrial marketing executives familiar with computers were surveyed. The results suggest that, properly managed, computer usage enriches individual marketer productivity and, in turn, organizational performance. Because managers can direct this productivity through organizational activities and investments, these findings suggest a number of key implications for marketers and researchers interested in utilizing and/or expanding applications of computer technology.

Fast and flexible low‐cost data processing and information systems have transformed business operations. Reductions in production setup times, lot sizes and inventory levels have yielded substantial improvements in productivity and profitability. The continuing changes sweeping American business impose significant impacts on the distribution (or logistics) function within manufacturing and merchandising firms. This research assesses current levels of computerization within logistics and examines the relationship between computerization and implementation of the integrated logistics concept. Significant differences between integrated and non‐integrated firms concerning levels of computerization are identified. Integrated firms have developed the information support systems necessary to position their organizations for competitive success.

Proposes that organisational expansion has occurred among the major clearing banks as a result of mergers, and has led to a heavy concentration of the banking sector. Sheds light on the competition between the clearing banks which has become increasingly evident, together with competition for these banks from a variety of other banks and financial institutions. Investigates the extent of computerisation and the growth of cheque cards, bank‐based credit cards and a variety of automated facilities. Goes on to discuss the marketing of bank services, present bank account ownership, consumer saving and borrowing, and the segmentation of the bank account market. Concludes that banks have a number of hurdles to overcome in order to attract account holders from the segment of low social status who are, typically, paid weekly in cash and these are all potential customers.

This article challenges the tendency of the information systems literature to subsume IT innovation in processes of organizational change, either with the role of “enabler” of organizational objectives, or as an instrument appropriated by situated organizational actors. Using institutionalist theory, the relationship between information systems development and organizational transformation is studied as the interaction of two institutionalization processes: the increasing momentum and legitimation of IT innovation; and the organizational efforts for the substitution of established structures and activities with new ones which often do not command adequate legitimacy. Such analysis suggests that IT innovation in organizations is to a large extent sustainable by its own institutional forces, irrespective of contribution to the processes of organizational change. This perspective is demonstrated with the case study of the Mexican oil company, Pemex, where IT projects have played a large part in its transformation from a state‐owned to private enterprise.

While the potential of information and communication technology (ICT) for poverty reduction is widely recognised, limited knowledge exists on its use in the social protection schemes devised for the world’s poor. Drawing on the institutionalist vision of IS development and organisational change put forward by Avgerou (2000), the authors propose that computerisation of these schemes entails two processes, namely, the progressive affirmation of ICT innovation and a shift in the programmes' organisational structure, which moves from a subsidy-based model to one grounded on direct cash transfers. The purpose of this paper is to illustrate how the role of ICT in anti-poverty schemes results from concomitance of such processes.

The paper draws on a study of the public distribution system (PDS), the main food security scheme in India, as it is being computerised in the state of Karnataka. Following an interpretive case study methodology, it investigates the ongoing computerisation of the Karnataka PDS through a combination of back-end and front-end technologies, based on biometric recognition of the programme’s users.

The data reveal that transformation of the PDS results from the simultaneous processes of institutionalisation of ICT innovation and deinstitutionalisation of the extant state-led subsidy scheme, in favour of a leaner social protection system centred on cash transfers to beneficiaries. This illustrates the point that ICT innovation is intertwined with the decline of an extant social welfare structure and the rise of a new one, based on the direct transfer of benefits.

The paper offers a new theoretical perspective to illuminate the computerisation of anti-poverty programmes, a phenomenon that affects the entitlements of millions of poor people on a global scale. In parallel, it draws practical implications for countries embarking on the digitalisation of their social protection schemes.