Search results

The purpose of this paper is to develop, and explicate the significance of the need for a systemic conceptual framework for understanding IT business value.

Embracing a systems perspective, this paper examines the interrelationship between IT and other organisational factors at the organisational level and its impact on the business value of IT. As a result, a systemic conceptual framework for understanding IT business value is developed. An example of enhancing IT business value through developing systemic capabilities is then used to test and demonstrate the value of this framework.

The findings suggest that IT business value would be significantly enhanced when systemic capabilities are generated from the synergistic interrelations among IT and other organisational factors at the systems level, while the system’s human agents play a critical role in developing systemic capabilities by purposely configuring and reconfiguring organisational factors.

The conceptual framework advanced provides the means to recognise the significance of the need for understanding IT business value systemically and dynamically. It encourages an organisation to focus on developing systemic capabilities by ensuring that IT and other organisational factors work together as a synergistic whole, better managing the role its human agents play in shaping the systems interrelations, and developing and redeveloping systemic capabilities by configuring its subsystems purposely with the changing business environment.

This paper reveals the nature of systemic capabilities underpinned by a systems perspective. The resultant systemic conceptual framework for understanding IT business value can help us move away from pairwise resource complementarity to focusing on the whole system and its interrelations while responding to the changing business environment. It is hoped that the framework can help organisations delineate important IT investment considerations and the priorities that they must adopt to create superior IT business value.

This study aims to present the issue of the international systemic competitiveness of the Polish economy. The essence of this concept was shown, as well as the measures and methods of analysis used. The aim of the research was to identify the factors that had the greatest impact on the formation of the international systemic competitiveness of the Polish economy.

An econometric model was constructed to explain the shaping of the value of the dependent variable (gross domestic product [GDP] per capita) in the years 2004–2019. For this purpose, explanatory variables were used selected from among the measures of the international systemic competitiveness of the Polish economy. The developed econometric model was verified to check its practical usefulness. This process was performed using the Gretl program. The research also used the Pentagon Model of Macroeconomic Stabilization, which was used to examine the general economic development of Poland because of which it is possible to conclude about the international systemic competitiveness of the economy.

In the analyzed period (2004–2019), the international systemic competitiveness of the Polish economy was to the greatest extent conditioned by such factors as government integrity, tax burdens and investment freedom. It is significant that the integrity of the government had a negative impact on the value of GDP per capita.

The results of the conducted research may be particularly useful for the institutional sphere. They indicate systemic factors that had the greatest impact on the prosperity of Polish society in the analyzed period. This enables the weakest elements of the policy to be identified and improved. Proper applications and appropriate corrective actions will have a positive economic effect.

So far, it has not been possible to develop/indicate a uniform and generally accepted measure and method of analyzing international systemic competitiveness. Therefore, all attempts to assess and measure systemic competitiveness have a high research value. The vast majority of studies on the international competitiveness of the economy focus only on assessing its level (growth, decline and comparison with other countries). When building an econometric model (based on the 2004–2019 time series), the author also checks the impact of its individual components, not only its level. On this basis, it can be deduced, which factors influenced the competitiveness in a given period to a greater extent, positively or negatively.

The financial crisis 2007‐2009 calls for a regulatory response. A crucial element of this task is the treatment of systemic risk. Basel III gains centre stage in this process. Thus, the purpose of this paper is to evaluate Basel III, examining its ability to reduce systemic risk.

The paper highlights the importance of reducing systemic risk to achieve the goal of overall financial stability. By first focusing on the theoretical foundations of systemic risk, this paper explores and analyzes the crucial aspects of this almost impalpable risk type. It further investigates the current regulation of systemic risk, clearly showing Basel II's inability to reduce it. Then, it evaluates the Basel Committee's efforts to address these weaknesses through Basel III by investigating its incentives and its ability to reduce obvious drawbacks of Basel II as well as systemic risk factors.

The findings show that there are still adjustments necessary. Although the development of Basel III is well advanced, providing some stabilizing incentives, there are still issues calling for closer consideration to counter all Basel II drawbacks and systemic risk factors adequately. These include: a risk‐weighted leverage ratio; a more thorough treatment of procyclicality; adjustments for the NSFR (Net Stable Funding ratio); and most importantly, the mandatory issue to internalize negative externalities from financial institutions, that is, the call for pricing systemic risk.

The paper not only examines the new Basel III framework, as a response to the Financial Crisis 2007‐2009, but also draws attention to specific areas which the Basel Committee and regulators need to focus on more thoroughly.

Considering the frequency of extreme events, enhancing the global financial system's stability has become crucial. This study aims to investigate the contagion effects of extreme risk events in the international commodity market on China's financial industry. It highlights the significance of comprehending the origins, severity and potential impacts of extreme risks within China's financial market.

This study uses the tail-event driven network risk (TENET) model to construct a tail risk spillover network between China's financial market and the international commodity market. Combining with the characteristics of the network, this study employs an autoregressive distributed lag (ARDL) model to examine the factors influencing systemic risks in China's financial market and to explore the early identification of indicators for systemic risks in China's financial market.

The research reveals a strong tail risk contagion effect between China's financial market and the international commodity market, with a more pronounced impact from the latter to the former. Industrial raw materials, food, metals, oils, livestock and textiles notably influence China's currency market. The systemic risk in China's financial market is driven by systemic risks in the international commodity market and network centrality and can be accurately predicted with the ARDL-error correction model (ECM) model. Based on these, Chinese regulatory authorities can establish a monitoring and early warning mechanism to promptly identify contagion signs, issue timely warnings and adjust regulatory measures.

This study provides new insights into predicting systemic risk in China's financial market by revealing the tail risk spillover network structure between China's financial and international commodity markets.

This study aims to analyse the systemic risk emitted by all publicly listed commercial banks in a key emerging economy, India.

The study makes use of the Tobias and Brunnermeier (2016) estimator to quantify the systemic risk (ΔCoVaR) that banks contribute to the system. The methodology addresses a classification problem based on the probability that a particular bank will emit high systemic risk or moderate systemic risk. The study applies machine learning models such as logistic regression, random forest (RF), neural networks and gradient boosting machine (GBM) and addresses the issue of imbalanced data sets to investigate bank’s balance sheet features and bank’s stock features which may potentially determine the factors of systemic risk emission.

The study reports that across various performance matrices, the authors find that two specifications are preferred: RF and GBM. The study identifies lag of the estimator of systemic risk, stock beta, stock volatility and return on equity as important features to explain emission of systemic risk.

The findings will help banks and regulators with the key features that can be used to formulate the policy decisions.

This study contributes to the existing literature by suggesting classification algorithms that can be used to model the probability of systemic risk emission in a classification problem setting. Further, the study identifies the features responsible for the likelihood of systemic risk.

This paper aims to explore the process of implementing solar photovoltaic (PV) systems in construction to contribute to the understanding of systemic innovation in construction.

The exploratory research presented is based on qualitative data collected in workshops and interviews with 76 construction- and solar-industry actors experienced in solar PV projects. Actor-specific barriers were identified and analysed using an abductive approach.

In light of established definitions of systemic innovation, the process of implementing solar PV systems in construction involves challenges regarding technical and material issues, competencies, and informal and formal institutions. The specificities of this case highlight the necessity of paying attention to details in the process and to develop knowledge of systemic innovation in construction since the industry’s involvement in addressing societal challenges related to the energy transition will require implementing such innovations much more in the future.

New knowledge of solar PV systems as an innovation in professional construction is collected, enabling the adaptation of management strategies for its implementation. This knowledge can also be applied generally to other challenges encountered in highly systemic innovation implementation. Solar industry actors can gain an understanding of solar-specific challenges for the construction industry, challenges for which they must adapt their activities.

The exploration of actor-specific experiences of solar PV projects has resulted in a novel understanding of this specific innovation and its implementation. The findings illustrate a case of a high level of systemic innovation and the need to use a finer-grained scale for classification when studying innovation in construction.

Before providing an overview of the conference with the above title and this Special Issue, this paper aims to present a view of the meaning of systemic risk, factors that affect systemic risk and measures of systemic risk. Thereafter, the conference presentations and the papers in this issue are summarized.

Characteristics and measures of systemic risk are reviewed. Conference papers and presentations are summarized.

While some aspects of systemic risk of a financial institution can be measured, an important aspect associated with contagion through markets is not easily captured by simple measures.

The conference and the papers in this issue contribute to the policy debate about sources and characteristics of systemic risk.

Patients, when using healthcare services, (co)create value by integrating their own resources with those of a range of stakeholders. These resource integration activities, however, require different types of skills and effort from the patients, and different types of interactions with stakeholders, while also having different effects on patients' well-being. The purpose of the present study is to develop a better understanding of why some patients are better able or willing to perform resource integration activities that impact their well-being. To reach this objective, barriers and facilitators of these activities in their interactions with various stakeholders were identified.

The study uses a multiple case study design. Individual patients having received a lung transplant, together with their entourage (family, medical professionals, other patients) each represent a case. In-depth interviews were conducted with the patients and with various categories of stakeholders in their service delivery network who were relevant to their experience and with whom they integrated their resources.

The study identifies three levels on which barriers and facilitators of the resource integration process occur: the individual, relational and systemic level. Factors on these levels affect different aspects of the process.

This study takes a systems perspective and investigates how various systemic factors and stakeholders conduce or inhibit healthcare service users to perform resource integration activities, especially focusing on those activities that strongly affect their well-being.

Human error is often cited as a major contributing factor or cause of incidents and accidents. Incident surveys in aviation have attributed 70 per cent of incidents to crew error. Although a large proportion of the accidents can be attributed to human error, Reason proposes a view that many accidents are catalyzed by persons not present at the time of the event. In fact, it is this source of latent conditions that pose a most significant threat to the safety of complex systems. Another dimension to human error in aviation are the active errors that can precipitate the alignment or trigger the latent conditions. The risk associated with aviation is a dynamic element that is affected by both latent conditions and situational factors. This dynamic nature is presented here using the cusp model from catastrophe theory. Using Reason’s latent failure model, the descriptive and predictive nature of the cusp model works as a map to illustrate the nature of aviation accidents in terms of “instability” resulting from the alignment of latent conditions and influence of active errors. The SwissAir 111 tragedy of 2 September 1998 is used as a case study to illustrate this model.

Health-care professionals working in inpatient forensic mental health settings are exposed to a range of traumatic and distressing incidents with impacts discussed variously as “burnout”, “compassion fatigue”, “secondary trauma stress” and “vicarious traumatisation”. This study aims to explore the short- and long-term psychological and physical health effects of trauma exposure in the workplace for frontline staff in a forensic setting.

Semi-structured interviews were conducted with 14 nursing staff members working in the male personality disorders care stream in a Medium Secure Hospital.

Thematic analysis yielded five themes: categories of trauma; how well-being is impacted; ways of coping and managing; protective factors; and systemic factors, with sub-themes within each of the superordinate themes.

The findings demonstrate that some staff members were affected both physically and psychologically as a result of trauma-focused work whereas other staff members were unaffected. The psychological and physical health effects were broadly short-term; however, long-term effects on staff member’s social networks and desensitisation to working conditions were observed. A broad range of coping methods were identified that supported staff member’s well-being, which included both individual and organisational factors. Staff member’s health is impacted by exposure to workplace trauma either directly or indirectly through exposure to material, and there is a greater need to support staff members after routine organisational provisions are complete. Staff should receive education and training on the possible health effects associated with exposure to potentially traumatic material and events.

This research has further contributed to understanding the staff needs of nursing staff members working with the forensic personality disorder patients within a secure hospital setting. This research has identified the following service developments: the need for ongoing support particularly after organisational provisions are complete; further prospects to engage in psychological formulations; greater opportunities for informal supervision forums; staff training to understand the potential health impact associated with trauma-focused work; supervisors being appropriately trained and supported to elicit impacts of trauma-focused work on staff members; and additional opportunities to discuss well-being or monitor well-being.