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This study analyzes the impact of the information environment (IE) and credit default swap (CDS) transaction costs on information transmission between the stock and CDS markets. Using the daily regression analysis on the Korean firm’s stock and CDS data from 2004 to 2023, the results show that companies with superior IE in the stock market exhibit a larger and more sensitive total information flow from the stock market to the CDS market. Companies with lower transaction costs in the CDS market demonstrate faster information flow. In the case of companies with superior IE, fundamental information is reflected in stock prices with high weight and thus the CDS spreads change reflecting information about stock prices. According to this study’s findings, the primary factor influencing the information flow from the stock market to the CDS market is the information environment of the company in the stock market, rather than transaction costs in the CDS market.

Recent studies on the securities market’s differential pricing of earnings components have shown that cash flow from operations is more highly valued than total accruals and that moderate cash flow from operations has higher valuation than extreme total accruals. An interesting question that follows is whether these findings hold regarding the differential valuations of cash flow and current accruals. This study aims to extend prior research by addressing this issue in two ways. First, the authors examine the incremental information content of cash flow from operations beyond working capital from operations. Second, the authors assess the effect of extreme working capital from operations on the incremental information content of cash flow from operations. This study aims to extend prior research by addressing this issue in two ways.

This study adopts market-based accounting research to test its hypotheses and to achieve its objectives. Specifically, this study uses statistical associations between accounting data and stock returns to examine the incremental information content (value relevance) of cash flow and working capital from operations and the effect of extreme working capital from operations on the incremental information content of cash flow.

The results show that cash flow from operations is not more highly valued than current accruals (both being valued equivalently). However, moderate cash flow from operations has higher valuation than extreme current accruals (each is valued differently). Overall, these research findings indicate that cash flow becomes more important for valuation as accruals get “extreme”.

As accruals are unlikely to persist to be permanent across the years, these results can be interpreted as indicating that cash flow and accruals information are used jointly by investors, with one being more important than the other depending on the relative “extremeness” of each. Therefore, both are of value to the investor and both should be reported.

The paper contributes to the UK research on determining the preferred level of disaggregation of earnings components, i.e. operating cash flow, current accruals and non-current accruals. This would help investors to improve their investment and credit decisions.

This paper aims to examine the interaction between gatekeeping and trust in a public sector organization, where employees at lower hierarchical levels are expected to autonomously translate and transform directives into public services. This requires them to have access to operational steering information, i.e. information about directives and how to interpret and apply them. This study focuses on how gatekeeping structures regulate flows of operational steering information and how the gatekeeping structures affect the development of trust.

The research design is qualitative. The data material consisted of semi-structured interviews with 26 employees in home care and schools and of eight complementary nonparticipant observations. Thematic analysis revealed the presence of static and dynamic gatekeeping structures, which are characterized by fixed and variable arrangements of information sources and channels, respectively.

In static gatekeeping structures, managers or domain experts typically act as gatekeepers, and employees also perform gatekeeping activities collectively. Gatekeeping structures allow employees to switch between acting as gatekeepers and being gated, depending on the situation. The results show that gatekeeping structures for intermediation of operational steering information may support or impede employees' work, thus affecting their trust in their peers and their work organization.

Although the present study included both interviews and observations, these primarily occurred within scheduled and prearranged activities rather than capturing the nuances of the typical daily work of teachers and home care employees. As a result, certain perspectives may have been unintentionally omitted.

The participants were recruited through the City of Oslo contact people, which may have impacted their status or perception in some way. Moreover, the study was conducted in the City of Oslo, a specific organization with its own unique set of values, norms and processes. The trust-based management in the City of Oslo is likely not representative of all public sector organizations.

This study contributes conceptually by introducing gatekeeping structures and operational steering information and empirically by providing evidence of their relationship to trust development in public service delivery. Thus, it contributes to the research fields of information management and public administration.

The purpose of this paper is to examine the information flows, in terms of content and process, underpinning the sharing of knowledge by managers and owners. Such an examination reveals similarities and differences that will influence the generation and dissemination of knowledge used in tourism business operations and contribute to innovation.

This paper examines information flows within the theoretical and methodological framework of social network analysis. The findings were derived from a quantitative study of tourism managers and owners of a tourism hub in South-West England.

The main finding was that network structure characteristics determine the flow of information within owners’ and managers’ social networks. The owners of smaller businesses received information from several sources and, therefore, had fewer structural constraints and reported larger structural holes. In comparison, the managers had more brokerage opportunities to disseminate the information within their social networks.

This paper highlights knowledge sharing between tourism business managers and owners in an open network structure. First, an open network structure builds innovation through the provision of nonredundant information. This is determined through the effective size of structural holes and the dissemination of information through brokerage roles. Second, the knowledge capability of a destination is built up through the social networking of managers and owners. The generation and dissemination of knowledge in a tourism destination are facilitated by the social networking activities of managers and owners.

Managers and owners of tourism businesses require knowledge through information to assist with innovative business practices. The practical implication of this is that the social networks of managers and owners have different network characteristics, and that these differences result in consequences for the innovation of business practices. Another practical implication relates to the importance of managers in knowledge dissemination based on having several brokerage roles in the tourism destination.

These findings are important because an understanding of social networks and the flow of information is one of the keys to determining the influences on knowledge sharing within tourism destination knowledge networks of owners or managers and their potential contributions to innovation.

Virtual reality (VR) offers unprecedented immersion and interactivity in education, and working and learning from home have become the norm during the COVID-19 pandemic. This study empirically investigated the factors affecting the use of a VR online learning system (VROLS).

To explore factors affecting users’ continuance behavioral intentions toward using VROLSs, a research framework was formed comprising factors that constitute benefits (i.e. pull factors) and costs (i.e. push factors); these factors included perceived value, flow and social influence. The data for this study were collected via online survey questionnaires. A total of 307 valid responses were used to examine the hypotheses in the research model, employing structural equation modeling (SEM) techniques.

Perceived value, flow experience and the number of peers using VR primarily affect the decision to adopt a VROLS. The pull factors of spatial presence, entertainment and service compatibility, along with the push factors of complexity and visual fatigue, affect perceived value. Therefore, we conclude that perceived value is a primary factor positively influencing both flow experience and the decision to adopt the service.

This study contributes to a theoretical understanding of factors that explain users’ intention to use VROLSs.

Higher energy conversion efficiency of internal combustion engine can be achieved with optimal control of unsteady in-cylinder flow fields inside a direct-injection (DI) engine. However, it remains a daunting task to predict the nonlinear and transient in-cylinder flow motion because they are highly complex which change both in space and time. Recently, machine learning methods have demonstrated great promises to infer relatively simple temporal flow field development. This paper aims to feature a physics-guided machine learning approach to realize high accuracy and generalization prediction for complex swirl-induced flow field motions.

To achieve high-fidelity time-series prediction of unsteady engine flow fields, this work features an automated machine learning framework with the following objectives: (1) The spatiotemporal physical constraint of the flow field structure is transferred to machine learning structure. (2) The ML inputs and targets are efficiently designed that ensure high model convergence with limited sets of experiments. (3) The prediction results are optimized by ensemble learning mechanism within the automated machine learning framework.

The proposed data-driven framework is proven effective in different time periods and different extent of unsteadiness of the flow dynamics, and the predicted flow fields are highly similar to the target field under various complex flow patterns. Among the described framework designs, the utilization of spatial flow field structure is the featured improvement to the time-series flow field prediction process.

The proposed flow field prediction framework could be generalized to different crank angle periods, cycles and swirl ratio conditions, which could greatly promote real-time flow control and reduce experiments on in-cylinder flow field measurement and diagnostics.

Quite often than not, a new industry can be created, thanks to the countless entrepreneurs and innovative activities across the globe. Smart city (SC) is one such industry and a living lab using the key roles of the digital platform that enable a seamless flow of information and knowledge for innovation within the SC. The purpose of this paper is to illustrate how SC can be a new regional industry engine through an “open collective innovation system” as its new concept. In particular, SC provides efficient transaction costs and knowledge flows. Eventually, SC can be an innovation hub for entrepreneurship through openness.

To frame the research goals, the authors used qualitative research methodologies based on grounded theory. In particular, the author used inductive reasoning to generate arguments and conclusions about the future of an SC as a new growth engine in the era of the fourth industrial revolution. Numerous documents and prior literature were used for the preliminary conceptualization of an SC. Interview data were then coded for reasoning in an open collective innovation system based on “openness”.

SC maximizes efficiency in practicing innovation. In the perspective of innovation costs, SC can minimize transaction costs, specifically the information processing costs, through data openness. In this context, transaction costs can be considered an economic equivalent of friction in a physical system. So, as the friction is low, some movements of an object on the surface are likely to be easy. SC is optimized for innovation activities through an “open collective innovation system”. In terms of innovation networks, an SC results in an innovation efficiency derived from both the network and the spatial agglomerations in physical and cyberspace. The efficiency-based SC itself overlaps knowledge creation, dissemination and absorption, providing an open innovation (OI) ecosystem.

This paper remarkably extends that SC can be an “open collective innovation system model” and a new conceptualization. Eventually, SC will play a crucial role in developing regional industries as a new growth engine. To operate as a new growth engine fully-fledged, the SC is needed to accumulate innovative assets such as the critical mass of residents, numerous firms, etc. However, this study has some limitations. First, difficulties in any analytic approach to SC resulted from their many interdependent facets, such as social, economic, infrastructural and spatial complex systems, which exist in similar but changing forms over a huge range of scales. Also, this research is at a quite an early stage. Thus, its theoretical stability is weak. So, this paper used the qualitative methodology with a grounded theory. Another limitation is in the research methodology. The limitation of using grounded theory adapted by this work is that the results of this study may not be generalizable beyond the context of this study. This non-generalizability occurs because ours is an inductive approach to research, meaning that the findings are based on data collected and analyzed. As such, the results of this study may not be applicable to other contexts or situations. In addition, the analysis of data in the grounded theory is based on researcher’s subjective interpretations. This means that the researcher’s own biases, preferences and assumptions may influence the results of the study. The quality of the data collected is another potential limitation. If the data is incomplete or of poor quality, it can cause researcher’s own subjective interpretations.

Findings of this study have some practical implications for enterprises, practitioners and governors. First, firms should use value networks instead of value chains. Notably, the firms that pursue new products or services or startups that try to find a new venture business should take full advantage of SC. This taking advantage is possible because SC not only adapts state-of-the-art information technology (e.g. sensor devices, open data analytics, IoT and fiber optic networks) but also facilitates knowledge flow (e.g. between universities, research centers, knowledge-based partner firms and public agencies). More importantly, with globalized market competition in recent years, sustainability for firms is a challenging issue. In this respect, managers can take the benefits of SC into consideration for strategic decisions for sustainability. Specifically, industrial practitioners who engage in innovation activities have capabilities of network-related technologies (e.g. data analysis, AI, IoT and sensor networks). By using these technologies in an SC, enterprises can keep existing customers as well as attract potential customers. Lastly, the findings of this study contribute to policy implementation in many aspects. At first, for SC to become a growth engine at regional or natural levels, strong policy implementation is crucial because SC is widely regarded as a means of entrepreneurship and an innovation plaza (Kraus et al., 2015). To facilitate entrepreneurship, maker spaces used for making the prototypes to support entrepreneurial process were setup within universities. The reason for establishing maker spaces in universities is to expand networking between entrepreneurs and experts and lead to innovation through a value network. One of the policy instruments that can be adapted is the “Data Basic Income Scheme” suggested by this research to boost the usage of data, providing content and information for doing business. Also, a governor in SC as an intermediator for the process of the knowledge flow should initiate soft configuration for SC.

This work makes two theoretical contributions to OI aspects: (1) it explores dynamic model archetypes; and (2) it articulates and highlights how SC with digital technology (i.e. in the AI, IoT and big data context) can be used to create collective knowledge flow efficiently. First, the findings of this study shed light on the OI dynamic model. It reveals important archetypes of new sub-clustering creation, namely, a system that underpins the holistic process of innovation by categorization in amongst the participating value network (Aguilar-Gallegos et al., 2015). In innovation studies, scholars have particularly paid attention to a cluster’s evolution model. In the process of innovation, the “open innovation dynamic model” suggested by this study illustrates sub-clustering that happens in value networks by taking the benefits of SC. Eventually, the evolution or development of sub-clusters can bring in a new system, namely, an OI system. Second, the findings of this study contribute to the understanding of the role of digital technologies in promoting knowledge flow. The usage and deployment of digital technologies in SC may enormously and positively influence innovative activities for participants. Furthermore, the rising of digital economy, in the so-called platform business, may occur depending on advanced technologies and OI. In doing so, the findings can further tow innovation research through juxtaposition between SC and innovation research (Mehra et al., 2021).

This paper shows that the function of an SC not only improves the quality of life but also acts as an engine of new industry through an open collective innovation setting using dynamic and ecological models.

At the beginning of the 21st century, a new class of information workers, the “information have-less” has risen. This class of workers alleviates the influence of information and communication technologies (ICTs) revolution on poverty and unemployment. The purpose of this study is to investigate the presence of this class of workers in Egypt and assess the size and potential growth of this category of workers.

The study clarifies the conceptual framework of the new division of labor, in the information age. The Central Agency for Public Mobilization and Statistics, American Chamber of Commerce in Egypt, Ministry of Communications and Information Technology and Information and Decision Support Center websites provided secondary data for this study. These data are used to assess the size of “the information have less” in Egypt.

The division of work and class, in the 21st century, depends on the level of skills possessed to work with ICTs. So, class and labor nowadays could be divided into self-programmable labor (Innovators). Information have-less labor class, adding value to the economy by learning skills and presenting repetitive work. Generic labor class, who cannot work with ICTs, and work in jobs, that do not need computers or other ICTs. The study has shown that the “information have-less” labor class is present in Egypt since the beginning of the 21st century, in all its categories; entrepreneurism, the service sector and the manufacturing sector. There are approximately 50% of this labor class in the service sector and only 13% of the information have-less works in manufacturing sector despite the great opportunities that Egypt has to expand manufacturing to absorb more employment. The inclusion of information technology (IT), in all domains, has not decreased employment in Western countries but has reallocated information have-less employment toward the service sector, and there would probably be the same effect in Egypt.

The study highlights the need for Egyptian policymakers to encourage the manufacturing and service sectors to provide huge working opportunities. The Egyptian government has to change the educational policies, at all stages, to include digital learning skills so IT can be incorporated in a wide range of economic activities. Further research includes: conducting a survey to measure the contribution of the entrepreneurial part of the information have-less employment in Egypt. In addition, a model may be developed, by the researcher to examine the reallocation of employees in Egypt.

Studying employment, in Egypt, using the conceptual framework of the information age is rarely being done.

This chapter seeks to understand the intersection between eGovernment, social media, and digital inequalities by examining the disparate flow of information during the COVID-19 pandemic. Developed economies are increasingly transitioning to digital interfaces for information dissemination and provision of services. The authors explore the potential of, and challenges facing eGovernment by looking at the use of social media during the COVID-19 pandemic. This chapter employs a case study approach to probe the dynamics of government-initiated efforts at information dissemination through the Center for Disease Control and Prevention’s (CDC) website and social media account on Twitter. The analysis in this chapter uses NodeXL to examine communication roles played by government and non-governmental actors within this slice of the Twittersphere centered around CDC@gov. As the findings demonstrate, non-governmental actors played key roles in the dissemination of public health messaging. The authors analyze these data with an eye to the potential of social media for public health communication and extrapolate that understanding to the use of digital access and social media for the provision of accurate, official information in other circumstances. While the COVID-19 pandemic was a global health crisis, individuals and households face individual or local crises every day. This angle of vision allows the chapter to conclude with recommendations pertaining to government-led information dissemination for the public good during crisis and non-crisis situations alike. In the concluding section, the authors probe the degree to which eGovernment can also address digital inequalities including connectivity, device, and literacy gaps. The authors offer solutions needed for eGovernment initiatives in light of challenges posed by digital inequalities to ensure that digital information sharing and services are accessible to all.

Psychological ownership has been a topic of intense debate for several decades, especially in the digital era. In addition, as part of the digital public domain, virtual communities shape our digital lives. Unfortunately, few studies have examined the communication process in virtual communities from the perspective of psychological ownership. Moreover, information and organization are key aspects of virtual communities. This research aimed to explore the impact of psychological ownership on communication satisfaction from these two perspectives.

I collected 471 responses using a questionnaire. In terms of empirical methods, I developed a structural equation model (SEM) to examine the relationship between psychological ownership and communication satisfaction as well as the mechanism underlying this relationship – namely, information behavior. Specifically, I first examined the relationship between psychological ownership and information behavior. I then developed a comprehensive framework for the double-edged impact of psychological ownership in virtual communities on communication satisfaction.

I found that psychological ownership has a double-edged effect on communication satisfaction based on two types of information behavior in virtual communities. Specifically, organization-based psychological ownership (OPO) positively influences communication satisfaction through information exchange. In contrast, information-based psychological ownership (IPO) negatively impacts communication satisfaction through information-hiding.

The findings of this research demonstrate that psychological ownership has a double-edged effect on communication satisfaction. First, the findings of this study reveal the downsides of psychological ownership, which are not consistent with its beneficial role. Second, the negative effect of psychological ownership with regard to communication in virtual communities also helps explain communication failure in virtual communities. Finally, despite the downsides of psychological ownership in the context of a virtual community revealed by this study, this factor has an overall beneficial effect.