Information Systems & Economics eJournal最新文献

{"title":"Investing in Lending Technology: IT Spending in Banking","authors":"Sheila Jiang, Zhiguo He, Xiaojiao Yin, Douglas Xu","doi":"10.2139/ssrn.3936084","DOIUrl":"https://doi.org/10.2139/ssrn.3936084","url":null,"abstract":"This paper investigates lending technologies in the banking sector after the arrival of the information age, by examining investment in information technologies (IT) by U.S. commercial banks. Given the distinctive nature of banks' dealings with information as they engage in lending activities, we link banks' IT spending in various categories to different aspects of their lending technologies. Investment in communication IT is shown to be associated more with improving banks' ability of soft information production and transmission, while investment in software IT helps enhance banks' hard information processing capacity. By exploiting polices that affect geographic regions differentially, we show that banks respond to an increased demand for small business credit (mortgage refinance) by increasing their spending on communication (software) IT spending. We also find an asymmetric impact of technological development on labor employment in the banking sector.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90595093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Governing 'European values' Inside Data Flows: Interdisciplinary Perspectives","authors":"K. Irion, Mira Burri, A. Kolk, S. Milan","doi":"10.14763/2021.3.1582","DOIUrl":"https://doi.org/10.14763/2021.3.1582","url":null,"abstract":"This editorial introduces ten research articles, which form part of this special issue, exploring the governance of “European values” inside data flows. Protecting fundamental human rights and critical public interests that undergird European societies in a global digital ecosystem poses complex challenges, especially because the United States and China are leading in novel technologies. We envision a research agenda calling upon different disciplines to further identify and understand European values that can adequately perform under conditions of transnational data flows.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81392270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"More Competitive Search Through Regulation","authors":"Paul Heidhues, A. Bonatti, L. Celis, Gregory S. Crawford, David Dinielli, Michael Luca, Tobias Salz, Monika Schnitzer, Fiona M. Scott Morton, Katja Seim, Michael Sinkinson, Jidong Zhou","doi":"10.2139/ssrn.3923593","DOIUrl":"https://doi.org/10.2139/ssrn.3923593","url":null,"abstract":"This paper identifies a set of possible regulations that could be used both to make the search market more competitive and simultaneously ameliorate the harms flowing from Google’s current monopoly position. The purpose of this paper is to identify conceptual problems and solutions based on sound economic principles and to begin a discussion from which robust and specific policy recommendations can be drafted. Consumers are harmed when a single, for-profit firm acts as the solitary gatekeeper between billions of end users and those with whom they would transact. These harms become even larger when innovative new technologies such as the internet of things may be captured by the incumbent monopolist. Economic theory can help us develop and apply regulations that lower entry barriers and encourage competition in this important market.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88062792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Business News and Business Cycles","authors":"Leland Bybee, B. Kelly, Asaf Manela, D. Xiu","doi":"10.2139/ssrn.3446225","DOIUrl":"https://doi.org/10.2139/ssrn.3446225","url":null,"abstract":"We propose an approach to measuring the state of the economy via textual analysis of business news. From the full text of 800,000 Wall Street Journal articles for 1984–2017, we estimate a topic model that summarizes business news into interpretable topical themes and quantifies the proportion of news attention allocated to each theme over time. News attention closely tracks a wide range of economic activities and explains 25% of aggregate stock market returns. A text-augmented VAR demonstrates the large incremental role of news text in modeling macroeconomic dynamics. We use this model to retrieve the narratives that underlie business cycle fluctuations.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77358962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Efecto de la banda ancha sobre el valor agregado en los municipios de Colombia (Effect of Broadband on Added Value in Colombia Municipalities)","authors":"José Santiago Gómez Medina","doi":"10.2139/ssrn.3919809","DOIUrl":"https://doi.org/10.2139/ssrn.3919809","url":null,"abstract":"Spanish Abstract: El objetivo de este estudio es determinar el impacto de la banda ancha en Colombia a nivel municipal sobre el valor agregado en municipios. A partir de información de penetración de banda ancha fija, y de usuarios de telefonía móvil con cobertura de internet móvil 4G en 1.101 municipios para el periodo 2012-2018, se estiman los efectos sobre el valor agregado per cápita abordando la endogeneidad a través del estimador del método generalizado de momentos (GMM) de Arellano-Bover y Blundell-Bond y estimando un modelo de efectos fijos por el enfoque de variable instrumental. Bajo las diferentes metodologías se encuentran efectos positivos de la penetración de la banda ancha fija y móvil. Para la estimación de variables instrumentales se encuentra que un aumento en la penetración de la banda ancha fija sobre hogares de 10 puntos porcentuales tiene un efecto positivo y significativo de 1.6% en el valor agregado per cápita, mientras que este mismo incremento en la penetración para la banda ancha móvil tiene un efecto de 0.8%. Además, se encuentran retornos decrecientes de la banda ancha fija sobre el nivel de ingreso de los municipios, mientras que en la banda ancha móvil no se observan diferencias por nivel de ingreso. English Abstract: The main purpose of this study is to evaluate the impact of broadband development in Colombia at municipal level on the added value of Colombian municipalities. Based on information on fixed broadband penetration, and mobile phone users penetration with 4G internet coverage in 1,101 municipalities for the period 2012-2018, the effects of these variables on the municipal per capita added value are estimated by addressing the endogeneity through the estimator of the generalized method of moments (GMM) of Arellano-Bover and Blundell- Bond and estimating a fixed effects model by the instrumental variable approach. Under the different methodologies there are positive effects of the penetration of fixed and mobile broadband. For the estimation of instrumental variables, I found that an increase in the penetration of fixed broadband over households of 10 percentage points has a positive and significant effect of 1.6% on the added value per capita, while this same increase in penetration for mobile broadband has an effect of 0.8% on the per capita value added of the municipalities. In addition, there are decreasing returns for fixed broadband over the income level of the municipalities, while mobile broadband does not show a substantial difference by income level.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83485587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Online Product Reviews on Retailer's Pricing and Return Policy Decisions","authors":"M. Altug","doi":"10.2139/ssrn.3914886","DOIUrl":"https://doi.org/10.2139/ssrn.3914886","url":null,"abstract":"After a purchase, customers increasingly feel more comfortable sharing their experience in the form of online product reviews, which help resolve future buyers' valuation uncertainty for that product. On the other hand, retailers offer lenient return policies that also help with customers' ex-ante valuation uncertainty. We consider a monopolist retailer that sells a new experience good over two periods and makes pricing and refund decisions. Because returns for these types of products are generally associated with lack of or inadequate functionality, a customer review mentioning a return experience generally creates a negative sentiment. Consequently, in this environment, a higher refund not only increases the volume of returns which need to be resold at a discounted price, but also creates more reviews that will have a negative sentiment. Similarly, a lower refund (and the associated lower price) would decrease the return volume and increase the fraction of customers writing positive reviews. Using a framework in which the negative reviews are weighed more heavily compared to the positive ones, surprisingly, we show that the retailer offers even a more generous refund compared to the benchmark setting with no reviews. In a duopolistic competition, the overall common sentiment of the on-line reviews are influenced by the refund and pricing decisions of both retailers; in other words, a customer with the same valuation purchasing the same product at different price and refund values will have a different ex-post utility and experience. Interestingly, we show that the retailers make their returns even more lenient compared to not only the benchmark setting with no reviews, but also the monopolist retailer with the same salvage value when their decision collectively determine the review sentiment. In both settings, we show that the refund increases with salvage value, valuation heterogeneity, second-period demand and decreases with first-period demand. We show that our results remain robust when i) consumers incur hassle cost ii) consumers have ex-ante valuation heterogeneity iii) the second-period valuation uncertainty is partially resolved with reviews.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73694201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do audit committees manage legitimacy through increased voluntary reporting? Evidence from a large-scale textual analysis of audit committee reports","authors":"Michelle A. Draeger, Bradley P. Lawson, Jaime J. Schmidt","doi":"10.2139/ssrn.3118408","DOIUrl":"https://doi.org/10.2139/ssrn.3118408","url":null,"abstract":"This study investigates whether audit committees manage legitimacy by voluntarily disclosing their financial reporting and audit oversight activities in the audit committee report. The answer is important because, if true, it would suggest that a regulatory mandate to require expanded audit committee reports may not be necessary. Performing a large-scale textual analysis of over 24,000 U.S. companies’ audit committee report disclosures issued between 2006 and 2017, we find that audit committees of large accelerated filers (LAFs) voluntarily increase disclosure of their financial reporting and audit oversight activities following (1) the SEC’s 2015 Concept Release which encouraged greater audit committee disclosure and (2) a company’s announced need to restate its financial statements. However, we do not find a similar increase following either event for non-large accelerated filers. Our findings indicate that large companies respond to external demand for additional audit committee disclosure but that a regulatory mandate may improve small company audit committee reporting.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78476145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Next-G Wireless: Learning from 5G Techno-Economics to Inform Next Generation Wireless Technologies","authors":"E. Oughton, W. Lehr","doi":"10.2139/ssrn.3898099","DOIUrl":"https://doi.org/10.2139/ssrn.3898099","url":null,"abstract":"A new generation of cellular technology has been deployed every decade since the 1980s. We are presently amid the global commercial deployment by Mobile Network Operators (MNOs) of the fifth generation (5G) of cellular technology; and concurrently, a flurry of research is engaged in designing the next generation (6G). This offers an opportune time to assess the techno-economics research literature over the past decade that informed 5G’s development lifecycle from standardization to deployment. Our goal is to provide a retrospective review of this literature and offer recommendations for how the methodologies employed in this style of model-based research (theoretical and empirical) may be improved to best contribute to the design of Next Generation (Next-G) wireless technologies. Our review categorizes the prior research into eight key research themes including use cases, technologies, modeling techniques, financial metrics, open science practices, business model evaluation, spatial focus and data visualization. Our review of the prior literature leads us to conclude that the quality and impact of techno-economic assessment studies directed at designing Next-G (or 6G) technologies would be improved if researchers are: (i) more transparent about network quality of service assumptions, (ii) openly share input data, code, and results, (iii) focus on total cost analysis, with special attention paid to (iv) ensuring the affordability of 6G technologies, and, (v) actively take account of developments emerging from other modeling efforts to maximize the potential for mutual benefits.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91376536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Blockchain Applications for Waste Management - Analysis of Blockchain Use cases in Waste Management and General Guidance for Starting Blockchain Projects","authors":"R. Lenz","doi":"10.2139/ssrn.3941795","DOIUrl":"https://doi.org/10.2139/ssrn.3941795","url":null,"abstract":"The aim of this study is to learn from the analysis of best practice examples in waste management for future application in the municipal sector. The focus is on the problems that the blockchain technology can primarily solve. Blockchain is a cross-sectional technology and can be used for a wide variety of purposes. Secondly, the structural characteristics of the use cases can also be of interest, for example whether a case is a pure business solution for companies, i.e. B2B, or a business-to-consumer (B2C) or C2C solution, or whether a municipality or public administration is involved, i.e. P2C or P2B. The analysis should also reveal in which segment, or for which type of waste (municipal or industrial waste, or only one specific waste category like glass, plastics or paper) most use cases could be found. The study begins with a description of the general characteristics of the blockchain applications found in waste management. Based on this, categories for screening are defined and screening results are presented and interpreted. Of course, it is questionable whether the results of a limited number of use cases (20 cases) are meaningful. Consequently, the results are compared with other studies on blockchain applications and analyzed for similarities and differences. Finally, core results are summarized, and the main findings are presented.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77142915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Real Deal: Return Policies against Review Manipulation","authors":"Y. Ho, Sheng-Zhi Mao","doi":"10.2139/ssrn.3897140","DOIUrl":"https://doi.org/10.2139/ssrn.3897140","url":null,"abstract":"Review manipulation is pervasive on e-platforms. Opportunistic sellers boost sales by manipulating reviews and inflating perceived product qualities. Such immoral behavior ruins market fairness and efficiency, harming social welfare. Though various technologies have been developed to detect fake reviews, review manipulation remains rampant due to the lack of economic incentives from a platform’s perspective (i.e., costs of fake-review-detection technologies and potential loss of commissions). Unlike extant literature focusing on developing advanced algorithms, we take another route to explore economic incentives via return policies. We craft a game theory-based model, endogenizing a platform’s return policy and sellers’ manipulation efforts and pricing, given heterogeneous consumers. Our results show that a full-refund policy is a powerful device to alter sellers’ misbehaviors. Yet, the policy could be a double-edged sword that either inhibits or enhances review manipulation, depending on the severity of sellers’ competition. We further identify a return-manipulation paradox – the platform is more willing to choose the policy (either full-refund or no-return) that encourages manipulation the most. In other words, the platform would hurt the welfare of sellers and consumers while maximizing its profit. To resolve the paradox, we investigate the autonomous return scheme wherein sellers are delegated to make return policies. The analyses suggest that the alternative scheme effectively lowers overall manipulation in the ecosystem and increases social welfare, compared to the platform’s dictatorial return policy (i.e., the centralized scheme). The analytical results are translated into executable actions to consumers, sellers, and platforms for healthy, sustainable e-markets.","PeriodicalId":13594,"journal":{"name":"Information Systems & Economics eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74868905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}