Search results

1 – 10 of over 111000
Article
Publication date: 2 November 2015

Ka Young Oh and Lorraine Warren

– The purpose of this paper is to explore the adoption, use, and performance of e-trade systems in South Korean businesses.

Abstract

Purpose

The purpose of this paper is to explore the adoption, use, and performance of e-trade systems in South Korean businesses.

Design/methodology/approach

The authors developed a modified Technology Acceptance Model extended through resourced-based view theory, to address the performance aspect, hitherto neglected in previous studies. Using the new model, 114 businesses were surveyed, measuring relationships between perceived usefulness, perceived ease of use, e-system usage, and business performance. Latent mean analysis was performed to examine the moderating effects of high and low e-trading system usage.

Findings

Through latent mean analysis, the authors determined that the influence of variables varies depending on the level of e-trading system usage. In both the high and low usage groups, perceived convenience influenced reuse of e-trading systems and reuse also had effects on business performance.

Research limitations/implications

The authors only examined Korean enterprises, so it would be useful to also examine the foreign counterparts in international e-trade transactions. Follow-up studies could examine how the dynamics of the sector change over time. Qualitative case study approaches could better understand the perspectives of firms in relation to management strategy formulation and decision making.

Practical implications

The results provide important insight for managers and policymakers concerned with developing electronic trading system strategies, and e-trading system contexts.

Originality/value

Although many studies have explored relationships among perceived advantages, such as usefulness and convenience and use and performance, none have investigated the relationship between usage and business performance targeting e-trading systems.

Details

Business Process Management Journal, vol. 21 no. 6
Type: Research Article
ISSN: 1463-7154

Keywords

Article
Publication date: 1 April 1988

Eric K. Clemons and Jennifer T. Adams

Big Bang, the deregulation of the London Stock Exchange in October of 1986, was accompanied by changed industry structure, altered regulatory environment, and new trading

Abstract

Big Bang, the deregulation of the London Stock Exchange in October of 1986, was accompanied by changed industry structure, altered regulatory environment, and new trading practices. In particular, trading was automated, and the floor of the Exchange was rapidly abandoned. Such massive discontinuities have produced opportunities in other industries. Although they may prove temporary, opportunities are arising to seek competitive advantage in London. Given the information‐intensive nature of securities trading, and the great differences in resources and experience with technology enjoyed by different firms, many of these advantages will entail the use of information technology.

Details

Office Technology and People, vol. 4 no. 4
Type: Research Article
ISSN: 0167-5710

Book part
Publication date: 4 September 2003

Pauline Ratnasingam

The emphasis on inter-organizational systems gave rise to concerns about inter-organizational relationships as trading partners became aware of the socio-political factors…

Abstract

The emphasis on inter-organizational systems gave rise to concerns about inter-organizational relationships as trading partners became aware of the socio-political factors and trust that affect their relationships. This paper examines the importance of inter-organizational-trust in business-to-business E-commerce organizations. It examines how inter-organizational relationships impact trading partner trust, perceived benefits, perceived risks, and technology trust mechanisms in E-commerce that can in turn influence outcomes of business-to-business E-commerce. This paper develops a conceptual model and tests the model using a case study research methodology. The aim is to solicit qualitative in depth understanding of inter-organizational-trust in business-to-business E-commerce. Eight organizations from a cross section of industries that formed four bi-directional dyads participated in the third stage of this study. The first two stages include exploratory case studies in three organizations in the automotive industry that applied EDI via Value-Added-Networks in 1997, and a nationwide survey of organizations that examined the extent of E-commerce adoption in Australia and New Zealand in 1998. The findings identify the need for trustworthy business relationships in an E-commerce environment.

Details

Evaluating Marketing Actions and Outcomes
Type: Book
ISBN: 978-0-76231-046-3

Article
Publication date: 1 September 1994

Tomoyoshi Matsuda

At one level, the function of a marketplace is to enable sellers andbuyers to meet, to agree to terms and conditions, and effect contracts.At another level, however, a…

1723

Abstract

At one level, the function of a marketplace is to enable sellers and buyers to meet, to agree to terms and conditions, and effect contracts. At another level, however, a marketplace is a mechanism for ensuring that information which might affect the terms and conditions is readily available to all participants, so that the pricing for sales will not be unduly influenced by participants with special information or other advantages, but rather will approach the theoretical price at which the market will settle. Information technology is increasingly being applied to support the exchange of goods and services. It may be used simply to automate existing practices. Alternatively, the introduction of technology into the market may provide an opportunity to rationalize the arrangements. In some instances, however, the implementation of IT may be grasped as a strategic weapon, by a buyer, a seller, or by an organization which provides marketplace services to buyers and sellers. Considers another kind of strategic use of IT in relation to marketplaces. This is the enforcement of fairness in the setting of prices, by drawing participants into a marketplace in which key differences in market power are equalized. Evaluates the outcomes of an electronic exchange supporting trading in chilled and frozen meat.

Details

Information Technology & People, vol. 7 no. 3
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 1 January 2005

Mark Anson

The Trade‐through rule (TTR) was established in 1975; it was designed to ensure that investors got the best price available for a stock trade. Under the Trade‐through…

Abstract

The Trade‐through rule (TTR) was established in 1975; it was designed to ensure that investors got the best price available for a stock trade. Under the Trade‐through rule, a customer’s order must be routed to the exchange or order market system where the best current price exists at any given moment. For example, if the best price quote for an order is listed by a specialist market maker at the NYSE, a customer order must be routed to the NYSE floor; it may not “trade through” to another exchange. The TTR is really an anti‐trade‐through rule; i.e. it prevents the trading through of orders. In fact, to reflect this reality, the SEC has given the TTR a new name: The Order Protection Rule. In concept, the TTR is a good idea to ensure that investors get the best price possible when trading stocks. At the time the TTR was adopted, it was designed to address a fragmented marketplace for stock trading. However, the financial markets have changed radically since the rule was first adopted. The dramatic increase in the use of personal computers in the early 1980s as well as the advent of electronic communication networks (ECNs) in the 1990s changed the trading landscape.

Details

Journal of Investment Compliance, vol. 5 no. 4
Type: Research Article
ISSN: 1528-5812

Keywords

Article
Publication date: 6 April 2020

Wei-Tek Tsai, Yong Luo, Enyan Deng, Jing Zhao, Xiaoqiang Ding, Jie Li and Bo Yuan

This paper aims to apply blockchains (BCs) for trade clearing and settlement in a realistic clearinghouse. The purpose is to demonstrate the feasibility and scalability of…

Abstract

Purpose

This paper aims to apply blockchains (BCs) for trade clearing and settlement in a realistic clearinghouse. The purpose is to demonstrate the feasibility and scalability of this approach.

Design/methodology/approach

The study uses account BCs and trading BCs as building blocks for trade clearing and settlement. Careful design is made to ensure that this approach is feasible and scalable.

Findings

A design has been proposed that can process hundreds of thousands of trades for a clearinghouse and it addresses performance, privacy and scalability of realistic trade clearing and settlement. The design has been implemented and experimented in a clearinghouse for over two months and processes over 3B real transactions from an exchange. The first month was to experiment with the system with historical data, the second month was to experiment with real-time data during market trading hours. The system performed as designed and intended.

Research limitations/implications

This is the first large research paper that applied BCs for clearing in the world. The authors applied the system to a clearinghouse and processed over 3 billion transactions, equivalent to 13 years of London Stock Exchange transaction volume, demonstrating that BCs can handle a large number of transactions.

Practical implications

The design can be duplicated to many clearinghouses in the world, and this also paves the way BCs can be used in large financial institutions.

Social implications

An implication is that other trading firms, clearinghouses and banks can apply the same technology for trade clearing, ushering the way BCs can be used in institutions. As clearing is a core function in business transactions, this has significant implications. The design can be discussed and improved in various communities.

Originality/value

As this is the first application of BCs to large clearinghouses that uses unique BC designs. This has significant value. Many studies have been performed but few have been reported in the scientific community. The system has been implemented, experimented and demonstrated in public for months.

Details

The Journal of Risk Finance, vol. 21 no. 5
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 1 June 2000

Richard J. Bauer and F. Gregory Fitz‐Gerald

Lists eight criteria for designing a general trading system for investment, explains how the five steps of genetic (computer) programming work in practice and shows how…

Abstract

Lists eight criteria for designing a general trading system for investment, explains how the five steps of genetic (computer) programming work in practice and shows how they can be applied to identify trading rules for a particular stock and stock screening rules for portfolio formation. Warns of some potential problems but believes the system described meets the eight criteria set and is easy to implement.

Details

Managerial Finance, vol. 26 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Abstract

Details

Financial Derivatives: A Blessing or a Curse?
Type: Book
ISBN: 978-1-78973-245-0

Article
Publication date: 25 September 2019

Tim Leung and Hung Nguyen

This paper aims to present a methodology for constructing cointegrated portfolios consisting of different cryptocurrencies and examines the performance of a number of…

Abstract

Purpose

This paper aims to present a methodology for constructing cointegrated portfolios consisting of different cryptocurrencies and examines the performance of a number of trading strategies for the cryptocurrency portfolios.

Design/methodology/approach

The authors apply a series of statistical methods, including the Johansen test and Engle–Granger test, to derive a linear combination of cryptocurrencies that form a mean-reverting portfolio. Trading systems are designed and different trading strategies with stop-loss constraints are tested and compared according to a set of performance metrics.

Findings

The paper finds cointegrated portfolios involving four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), and the corresponding trading strategies are shown to be profitable under different configurations.

Originality/value

The main contributions of the study are the use of multiple altcoins in addition to bitcoin to construct a cointegrated portfolio, and the detailed comparison of the performance of different trading strategies with and without stop-loss constraints.

Details

Studies in Economics and Finance, vol. 36 no. 3
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 23 November 2010

Supattana Nirukkanaporn and S. Kumar

The purpose of the paper is to analyze the effect on centralized dispatching generation cost under the condition where the single‐buyer electric supply industry (ESI) with…

Abstract

Purpose

The purpose of the paper is to analyze the effect on centralized dispatching generation cost under the condition where the single‐buyer electric supply industry (ESI) with independent power producer (IPP) scheme (the ESI structure that is widely implemented in developing countries) is opened for bilateral trading. The analysis is based on the Thai power system.

Design/methodology/approach

The analysis considers the average generation cost (B/kWh) derived from unit commitment of power generation under three cases – single‐buyer model with must‐run IPP scheme, unconstrained operation case, and the case where bilateral trading is introduced. The analysis is performed for different demand levels.

Findings

The results indicate that the operational constraint from the virtual must‐run power purchase agreement under IPP scheme leads to higher generation cost. The choice of allowing IPP to trade through bilateral trading and removal of the must‐run contract shows potential to lessen the operational constraint and lower generation cost can be achieved under some conditions – depending on the plant type and the share of bilateral market in the system. The planning and policy should take into consideration these conditions especially during the transitional period of ESI reform.

Research limitations/implications

The main limitation of the analysis is the availability to recent data. The load factor of the demand curve is taken from the peak day of the year, resulting in higher load factor than the average of Thailand. With lower load factor, the must‐run constraints might be more obvious during the lighter load day and more expensive generation cost can be observed. However, the cases are compared at same demand curve. Therefore, the trend of result will lead to the same conclusion.

Originality/value

Uneconomic operation of the single‐buyer ESI with IPP scheme which has been implemented in many developing countries was clearly determined. The literature shows that the ESI operation can be more efficient when the sector moves towards higher degree of competition, either fully competitive market or bilateral trading. The potential for better operating conditions for bilateral trading has been suggested. The simulation based on the power system of Thailand can be an example for other developing countries operating under the similar ESI structure.

Details

International Journal of Energy Sector Management, vol. 4 no. 4
Type: Research Article
ISSN: 1750-6220

Keywords

1 – 10 of over 111000