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Considers that when efficiency and effectiveness of systems are measured by the quantity and quality of their output they may be inadequate for the purpose of comparing one system with another. Seeks new criteria and defines entropy, wastivity and quality concepts in relation to system performance. Establishes the interdependence of the three concepts. Proposes that system wastivity should be used as a measure of system performance.

The purpose of this study is to determine the influence of technology visibility and subsequent perceptions of VFRs on consumers' intention to adopt VFRs in the online shopping context. A cross-cultural comparison was conducted to examine the different relationships among technology visibility, consumer perceptions and adoption intentions between the Chinese and Korean consumers.

Data were collected from 306 Chinese and 324 Korean consumers. The data were empirically analysed using structural equation modelling as well as multi-group comparisons.

Empirical results suggest significant influence of technology visibility on consumers' experiential and functional perceptions towards VFRs and accordingly on their adoption intention towards VFRs. Significant differences were also revealed between the Chinese and Korean consumers in their adoption behaviours towards VFRs.

The comparison was only conducted between the Chinese and Korean consumers. If two countries from two dramatically different cultures were compared, the results might be more significant.

An important implication is that enhancement of visibility is crucial for technology adoption considering its importance in shaping consumers' perceptions towards the technology.

The paper empirically tested the importance of technology visibility in consumers' new technology adoption in the VFR context from a cross-cultural perspective.

The “metaverse” is the new buzzword. With the phenomenal growth of the metaverse comes accounting, taxation and jurisdictional challenges, which business and governments have yet to fully address. This paper aims to highlight and rationalise the lack of regulatory framework and multiplicity of jurisdictions on metaverse transactions. This paper addresses some of the complications with respect to accounting and taxation in virtual environments.

This study relies on secondary data and emerging literature to understand the multiplicity of jurisdiction and complexity of the accounting transactions. The concept of the metaverse is rapidly evolving, and this study uses extant literature to provide the foundation for understanding the key challenges relating to accounting and taxation.

Concepts of revenue recognition and deferment are challenged by the transactions in the metaverse. There are novel applications, underpinned by emerging technologies and blockchain supporting new crypto assets, such as non-fungible tokens and other decentralised finance (DeFi) tools; however, the caveats of anonymity and jurisdictional issues persist. The paper suggests that the industry must adapt to the unique reporting requirements of these assets and develop new standards for evaluating their value for financial reporting purposes. The paper emphasises the need for a case-based approach in the absence of standardised regulations for the accounting industry in the metaverse.

This paper adds original contributions to extant literature of the metaverse and advances ongoing debates into the accounting and taxation issues pertinent to the metaverse and DeFi.