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Provides a comprehensive, critical review of failure prediction with cash flow information since Beaver (1966); and tabulates the methods and cash flow variables used, and the results produced. Describes the literature as “inconsistent and inconclusive” and discusses possible reasons why, e.g. the measurement and diversity of cash flows, lack of model validation, multicollinearity etc. Points out the importance of cash to solvency and dividend payouts; and the limitations it places on creative accounting. Summarizes the reasons for previous inconsistencies and considers possibilities for further research.

In contrast to recent US studies, almost all prior UK studies have not supported the incremental information content of cash flow beyond earnings. In addition, to date no UK study has addressed the effect of earnings extremity on the incremental information content of cash flow and earnings whilst controlling for the extremity of cash flow. Therefore, and in order to assess the generality of recent US findings, the aim of this study is to examine the incremental information content of cash flow from operations and earnings and the effect of extreme earnings on the incremental information content of cash flow from operations in the UK firms.

Based on market‐based accounting research, this study uses statistical associations between accounting data (earnings and cash flow) and stock returns to assess/measure the incremental information content (value relevance) of cash flow and earnings and the effect of extreme earnings on the incremental information content of cash flow and earnings. The paper follows the recent methodology in this area that employs the level and change of cash flow and earnings as an estimation of their unexpected components and isolates the extreme cash flow and earnings apart from the moderate ones.

The results show that both earnings and cash flow from operations have incremental information content beyond each other. It is also found that extreme earnings lead to incremental information content for only moderate (not extreme) cash flow. These results are consistent with the findings of the recent US studies.

Overall, the findings of this study support the usefulness of using cash flow information, in addition to earnings in firm valuation by investors in the UK market, especially when earnings are extreme and cash flow is moderate. The accounting interpretation of these results, in terms of disclosure of earnings components, is discussed.

The study makes the following contributions to the incremental information content of cash flow and earnings literature in the UK. First, this study employs actual cash flow data derived from cash flow statements. Second, none of the prior UK studies shares the current research focus, which is to examine the effect of earnings extremity on the incremental information content of cash flow and earnings whilst controlling for the extremity of cash flow itself. Third, this study employs a large sample size for a more recent period.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

This study aims to identify key motivation factors for consumers’ social search and examine the role of flow in the process. This study assessed how content quality (i.e. visual aesthetics, textual information and timeliness) and system quality (i.e., intuitiveness and interactivity) influence flow experience. Additionally, this study tested how mental simulation and ease of task mediate this process and examined how the flow experience leads to purchase intention.

An online survey via Amazon MTurk was performed using the general consumer population in the USA. Structural equation modeling (SEM) was conducted to test proposed hypotheses.

Visual aesthetics, text information, intuitiveness and interactivity were found to increase consumers’ flow experience in social search on Instagram. The timeliness of information was not a significant predictor of flow experience. Additional analyses demonstrated the mediating role of mental simulation and perceived ease of task mediate in flow experience, ultimately leading to increased purchase intention.

The concept of flow should be taken into consideration in a setting of social media marketing. To create holistic consumption experiences, social media strategy should promote seamless information search by increasing both the content (i.e. visual aesthetics and text information) and system (i.e. intuitiveness and interactivity) quality.

This study expands the theory of flow by applying it to the social search process in social media. Mental simulation and perceived ease of task are distinctively recognized as essential factors for flow experience on Instagram.

The purpose of this paper is to explore the roles of flow experience and e-trust in online consumers’ stickiness intentions from a perspective of information quality and discuss how to retain these consumers.

The authors proposed a research model by integrating three dimensions of information quality, flow experience and e-trust. These factors were analyzed to explore the direct and indirect effects on consumers’ stickiness intention. Online questionnaires were adopted to collect data and 259 valid samples were analyzed by structural equation modeling approach.

The findings show that information quality provided by B2C online shopping malls can indirectly affect consumers’ stickiness intention through the mediation effects of flow experience and e-trust. Besides, flow experience can also significantly affect e-trust and then indirectly influence stickiness intention.

The findings suggest that information quality can trigger the effects of flow experience and e-trust to keep stickiness of online consumers. Besides, in the context of online shopping, flow experience would promote consumers’ trust toward e-retailers. Some other theoretical and practical implications are also provided.

This study indicates the effects of flow experience and e-trust on stickiness intention from an information quality perspective. Meanwhile, the authors also intend to discuss the relationship between consumers’ flow experience and e-trust in the context of B2C online shopping.

The purpose of this paper is to explore and analyse the risks in container shipping operations from a logistics perspective. In the paper, risks associated with the three flows in logistics − information, physical, and payment flow are identified and analysed.

The use of case study method was first explained and justified. Second, risk identification was started with supporting references, several interviews were then conducted to identify and validate the potential risks in container shipping operations. A questionnaire was deployed to collect related data; and the impacts of the risks were then assessed and ranked using the method of risk mapping.

The paper has identified a total of 35 risk factors and classified them into different categories. The paper has also revealed that the risks associated with physical flows have more serious risk impacts than the other types of risks; however, one of the risk factors associated with information flow (shippers hiding cargo information) is the most significant one among all the factors.

Although many studies have been conducted on container shipping operational risks, no studies so far have approached this issue from a perspective that inclusively examines all the possible risks and comprehensively evaluates the relative importance of each of them. This study has identified the risks in container shipping operations, and analysed and ranked the level of these risks. The research further “refines” the findings of some previous studies by placing the risk factors addressed therein in a full “risk picture” which was developed systematically.

Many business process improvement efforts emphasize better integration, yet process integration can mean many things. The purpose of this paper is to emphasize the importance of information flows to modern business processes, and draw upon recent organizational and information systems literature to characterize process integration and to derive four principles of process integration: accessibility, timeliness, transparency, and granularity of information flows.

Using a field study, the four principles of process integration are applied to analyze ten different business processes across five organizations.

In total, 18 generalized activities are identified that describe non‐integrated behavior, and “keying in known data” was found to be the most common. Among other findings, analysis highlights the importance of documentation to modern business processes, especially for coordination roles, and the paper describes three different purposes for documentation found in the data: content, process validation, and posterity.

The articulation of “business process integration” offers a foundation for future research in this area. Findings are limited in generalizability to various levels of processes, as well as possible instrument‐related biases.

The principles of process integration provide a lens through which practitioners can analyze processes. Empirical findings stress the role of documentation, forms of documentation, and types of non‐integrated work.

The paper characterizes process integration in relation to other commonly‐used constructs such as organizational integration, data integration, and application integration. Principles are derived from the literature that can guide future inquiry and practice associated with business process improvement.

This study investigates information flow of market constituents and global indices at multi-frequencies.

The study’s findings were obtained using the Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise (I-CEEMDAN)-based cluster analysis executed for Rényi effective transfer entropy (RETE).

The authors find that significant negative information flows among sustainability equities (SEs) and conventional equities (CEs) at most multi-frequencies, which exacerbates diversification benefits. The information flows are mostly bi-directional, highlighting the importance of stock markets' constituents and their global indices in portfolio construction.

The authors advocate that both SE and CE markets are mostly heterogeneous, revealing some levels of markets inefficiencies.

The empirical literature on CEs is replete with several dynamics, revealing their returns behaviour for diversification purposes, leaving very little to know about the returns behaviour of SE. Wherein, an avalanche of several initiatives on Corporate Social Responsibility (CSR) enjoin firms to operate socially responsible, but investors need to have a clear reason to remain sustainable into the foreseeable future period. Accordingly, the humble desire of investors is the formation of a well-diversified portfolio and would highly demand stocks to the extent that they form a reliable portfolio, especially, amid SEs and/or CEs.

本研究擬審查多頻率的及為市場成份的信息流和全球指數。

研究人員使用基於改良完全集合經驗模態分解自適應噪聲(Improved Complete Ensemble Empirical Mode Decomposition with Adaptive Noise)的聚類分析法,取得Rényi有效轉移熵,藉此得到研究結果。

我們發現、於大部份多頻率,在持續性股票和傳統股票間有顯著的負信息流動,這會增加多樣化的益處。這些信息流大部份是雙向的,這強調了股票市場成份及其全球指數在構建投資組合上的重要性。

我們認為持續性股票市場和傳統股票市場大多為異質市場,這顯示了市場的低效率,而且這低效率的程度頗大。

關於傳統股票的實證性文獻裡是充滿了變革動力的,這顯示了它們以多樣化為目的的回報行為。這使我們對關於持續性股票的回報行為、認識變得實在太少了。於此,大量的企業社會責任的新措施不斷提醒各公司、要本著企業社會責任的理念去營運;但投資者需清晰明白他們為何需在可見的將來保持可持續性。因此,他們卑微的願望是一個較好的多樣化投資組合得以形成,故此他們高度要求股票要有組成可靠投資組合的性質和能力,特別是在持續性股票和/或傳統股票當中。

Although there are a number of studies on the factors affecting the continuance usage intention for social network services (SNS), the studies on the integrated model encompassing SNS qualities (information, system, and service quality, and hedonic value, which are gratifications for SNS usage), flow, relationship quality (which are trust and satisfaction), and continuance intention are almost non-existent. Based on Bagozzi’s self-regulation framework, the IS success model, uses and gratification theory, and flow theory, the purpose of this paper is to examine the qualities and hedonic value of SNS, which have an influence on flow experience and relationship quality which are posited to affect the continuance usage intention.

This study used an e-mail survey method to collect 460 questionnaires for the final sample. The sample of the study includes college students or job workers who have experience in using SNS. Various user categories in terms of gender, school degree, occupation, usage years, and daily time of usage were included.

The study results show that system, service quality, and hedonic value have an impact on flow experience, information and service quality, and hedonic value influence the relationship quality of SNS. The flow experience and relationship quality while using SNS affect the continuance usage intention of SNS. This results show that the consideration of various SNS qualities, hedonic value, flow experience, and relationship quality is necessary to actively explore the factors for continuance usage intention for SNS.

IS managers trying to understand reuse intent can use surveys on information, system, and service quality, and hedonic value. Practitioners should constantly incorporate and develop various activities or useful applications to allow people to reach out to each other, to reinforce users’ attention, interaction, and increase social connections, trust, satisfaction, and further intensify users’ intention to use, increasing SNS value. The findings explain a mechanism through which SNS users’ continuance intention is built. Understanding this mechanism provides valuable information for practitioners to understand the qualities driving SNS users’ intention to revisit SNS.

This study sheds light on the existing literature on website usage that focuses on the design qualities as this paper has combined website quality perspective, i.e., information, system, and service quality, and hedonic value, and the flow and relationship perspective to investigate how these constructs would affect users’ intention to continuously use SNS. On the basis of four theories, Bagozzi’s self-regulation framework, IS success model, users and gratification theory, and flow theory, this study extended the previous studies on SNS by adding information, system, and service quality, hedonic value, flow and relationship quality as second-order constructs affecting continuance intention.

The purpose of this paper is to explore the antecedents of information seeking in digital libraries from the perspectives of the Technology Acceptance Model and flow experience, as well as the consequences from the perspectives of self-efficacy in getting information and individual performance.

A research model is developed and tested using questionnaires and, partial least squares structural equation modeling.

The effect of flow experience on information seeking in digital libraries is the largest one. Meanwhile, flow experience fully mediates the effects of ease of use and usefulness on information seeking in digital libraries which further leads to self-efficacy in getting information and individual performance.

Librarians should help users to experience more stable and sustainable flow by providing dependable, prompt, personalized and professional service to them. Librarians should try their best to provide diversified user training so as to guide potential users to seek information in digital libraries.

This study contributes to the theoretical development of the structural model exploring information seeking in digital libraries, presenting a new view for digital library research and practice alike.