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  • Beauty-contests in the age of financialization: information activism and retail investor behavior
    J. Inf. Technol. (IF 6.953) Pub Date : 2016-12-19
    Laura Rickett, Pratim Datta

    Keynes (The General Theory of Employment, Interest and Money, Harcourt Brace and Co., New York, 1936) had rightfully argued that picking stocks is akin to a beauty contest. The chances of winning are amplified if one’s choice matches the likelihood of the panel’s choice. In this era of financialization, where profit-making has shifted to speculative sways rather than fundamental trade and commodity production measures (Krippner, Socio-Econ Rev 3(2):173–208, 2005), similar beauty contests have become even more acute. Online, real-time media channels along with pervasive investments applications have ushered in unprecedented online financial information and retail investor interest, ranging from dealing in penny stocks to sentiment-based trading. More than information sources, similar investment sites compete to recommend investment directions and strategies, not driven by strict fundamentals used by “arbitrageurs” or rational speculators but on pseudo-signals proffered by various information investment channels with varying degrees of credibility. This behavior, referred to herein as information activism, concomitantly adds a sociopsychological dimension to the concept of financialization (Lagoarde-Segot, Int Rev Financial Anal 2016) – wherein technology-driven information reach and range contribute to financial dominance of financial actors and practices. Using information activism as a lens, this research empirically evidences the extent to which information activism affects retail investor behavior under various market conditions. This study examines the differential effects of two primary, albeit reputable, sources of information activism: an investment news channel (CNBC – Mad Money) and an online financial blog (SeekingAlpha), and the effect on investor behavior during the 2008 financial crisis. In identifying the specific downstream effects of information activism on capital markets and investor behavior, factors related to investor behavior, such as trading volume and price reaction, are analyzed surrounding information activism events. Results indicate that retail investors appear to rely on online information activists during uncertain economic conditions. Findings denote that abnormal returns are associated with information activism during uncertain economic conditions and for buy recommendations when information asymmetry is high. Abnormal trading volume is also associated with information activism during economic uncertainty and with buy recommendations when information asymmetry is high particularly for stocks exchanges where unsophisticated investors tend to trade more heavily.

    更新日期:2018-02-01
  • An essay on financial information in the era of computerization
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-04-28
    Christophe Schinckus

    This article deals with the increasing computerization of the financial markets and the consequences of such process on our ability to collect information about financial prices. The concept of information is at the heart of financial economics simply because this notion is a precondition for all investments. Since financial prices characterize an agreement on a transaction between two counterparties, they understandably became a key informational indicator for decision. This article will analyse the increasing computerization of financial sphere by discussing the recent emergence of what is called a “flash crash” and its impact on the traditional ways of collecting information in finance (technical analysis, fundamental analysis and statistical approach). I argue that the growing computerization of financial markets generated a “hyper-reality” in which financial prices do not refer to “something” anymore implying a revision of our usual way of defining/using the notion of information.

    更新日期:2018-02-01
  • More than just noise? Examining the information content of stock microblogs on financial markets
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-03-07
    Ting Li, Jan van Dalen, Pieter Jan van Rees

    Scholars and practitioners alike increasingly recognize the importance of stock microblogs as they capture the market discussion and have predictive value for financial markets. This paper examines the extent to which stock microblog messages are related to financial market indicators and the mechanism leading to efficient aggregation of information. In particular, this paper investigates the information content of stock microblogs with respect to individual stocks and explores the effects of social influences on an interday and intraday basis. We collected more than 1.2 million stock-related messages (i.e., tweets) related to S&P 100 companies over a period of 7 months. Using methods from computational linguistics, we went through an elaborate process of message feature reduction, spam detection, language detection, and slang removal, which has led to an increase in classification accuracy for sentiment analysis. We analyzed the data on both a daily and a 15-min basis and found that the sentiment of messages is positively affected with contemporaneous daily abnormal stock returns and that message volume predicts 15-min follow-up returns, trading volume, and volatility. Disagreement in microblog messages positively influences stock features, both in interday and intraday analysis. Notably, if we give a greater share of voice to microblog messages depending on the social influence of microbloggers, this amplifies the relationship between bullishness and abnormal returns, market volume, and volatility. Following knowledgeable investors advice results in more power in explaining changes in market features. This offers an explanation for the efficient aggregation of information on microblogging platforms. Furthermore, we simulated a set of trading strategies using microblog features and the results suggest that it is possible to exploit market inefficiencies even when transaction costs are included. To our knowledge, this is the first study to comprehensively examine the association between the information content of stock microblogs and intraday stock market features. The insights from the study permit scholars and professionals to reliably identify stock microblog features, which may serve as valuable proxies for market sentiment and permit individual investors to make better investment decisions.

    更新日期:2018-02-01
  • Three different ways to skin a cat: financialization in the emergence of national e-ID solutions
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-04-24
    Ben Eaton, Jonas Hedman, Rony Medaglia

    The growing phenomenon of financialization influences an array of societal dimensions that go beyond the economic realm, to include public policy-making and information technology (IT). This study presents a cross-country analysis of the emergence of national electronic identification (e-ID) solutions as the result of interaction between the financial and the public sector in Denmark, Norway, and Sweden. Drawing on on-line sources, documents, and interviews with key actors in the three cases, we adopt a cross-disciplinary perspective by applying the lens of collective action theory to identify the role of interests, resources, and governance in the emergence of national e-ID solutions. Findings show that different governance solutions can emerge as the result of the convergence of interests and of interdependency of resources between the actors over time. We contribute to research on financialization and IT by proposing a dialectic process model and identifying five mechanisms that drive the process forward.

    更新日期:2018-02-01
  • Effects of transparency: analyzing social biases on trader performance in social trading
    J. Inf. Technol. (IF 6.953) Pub Date : 2016-12-20
    Florian Glaser, Marten Risius

    Social Trading platforms combine the trading functionalities of classical online broker services with the communication and interaction features of social networks. Next to following other users’ profiles, a main characteristic of social trading platforms is the possibility to follow other users by automatically copying their trades. By being a technologically based financial intermediary that enables individual profit maximization, social trading platforms constitute a contemporary example of financialization. Our empirical analysis of the behavior of traders on a social trading platform provides new insights on financialization related questions regarding the influence of transparency and interaction in delegated investment environments. The disposition effect is a well-studied behavioral bias of investors and traders. Human investors tend to realize returns of their winning positions too early and let unfavorable positions accumulate losses for too long. We find that on social trading platforms the traders’ sensitivity to the disposition effect is influenced by the amount of attention they receive from their followers who invested capital into the traders’ strategy. These novel insights propose a link between principal-agent theory and the disposition effect induced by transparency mechanisms. We extend the literature on trader-investor interaction channels in social trading networks. The results obtained in a social network environment are of high relevance for regulators who have a strong focus on customer protection and financial services regulation. They also provide guidelines for platform designers, traders, investors and social trading platform operators.

    更新日期:2018-02-01
  • Representation and mediation in digitalized work: evidence from maintenance of mining machinery
    J. Inf. Technol. (IF 6.953) Pub Date : 2018-01-04
    Katrin Jonsson, Lars Mathiassen, Jonny Holmström

    The increased digitalization of work results in practices that are increasingly networked and knowledge-based. As such, we need to continuously inquire how digital technology leads to changes in work and not be content knowing that it leads to change. This paper contributes to advancing such knowledge through an analysis of digitalized condition-based maintenance of machinery in a Swedish iron ore mine. Drawing on the distinction between digital representation and digital meditation figurations of human and material agency, we analyze how the distributed network of workers used a diverse portfolio of digital technologies to make complex knowledge-based decisions on when and how to maintain the mining machinery. We combine these empirical insights with extant literature to advance a new theoretical perspective on how key characteristics of digital technologies are implicated in networked, knowledge-based work practices.

    更新日期:2018-01-04
  • Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-12-14
    Wendy L. Currie, Daniel P. Gozman, Jonathan J. M. Seddon

    This article presents the findings from a longitudinal research study on regulatory technology in the UK financial services industry. The financial crisis with serious corporate and mutual fund scandals raised the profile of compliance as governmental bodies, institutional and private investors introduced a ‘tsunami’ of financial regulations. Adopting a multi-level analysis, this study examines how regulatory technology was used by financial firms to meet their compliance obligations, pre- and post-crisis. Empirical data collected over 12 years examine the deployment of an investment management system in eight financial firms. Interviews with public regulatory bodies, financial institutions and technology providers reveal a culture of compliance with increased transparency, surveillance and accountability. Findings show that dialectic tensions arise as the pursuit of transparency, surveillance and accountability in compliance mandates is simultaneously rationalized, facilitated and obscured by regulatory technology. Responding to these challenges, regulatory bodies continue to impose revised compliance mandates on financial firms to force them to adapt their financial technologies in an ever-changing multi-jurisdictional regulatory landscape.

    更新日期:2017-12-14
  • “Openness” with and without Information Technology: a framework and a brief history
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-11-20
    Daniel Schlagwein, Kieran Conboy, Joseph Feller, Jan Marco Leimeister, Lorraine Morgan

    Over the past two decades, openness (e.g. ‘open’ innovation, ‘open’ education and ‘open’ strategy) has been of increasing interest for researchers and of increasing relevance to practitioners. Openness is often deeply embedded in information technology (IT) and can be both a driver for and a result of innovative IT. To clarify the concept of “openness”, we provide an overview of the scope of cross-disciplinary research on openness. Based on this overview, we develop a framework of openness, which proposes a higher-order concept of “openness” characterised by transparency, access, participation and democracy. The framework further distinguishes open resources, open processes and the effects of opening on particular domains. To provide the historical context and to appreciate the role of IT in openness, we discuss two historical examples of openness: the introduction of an open science model in academia (openness without IT) and the emergence of open source software development (openness with IT). We conclude by highlighting some concerns with and limitations of “openness”.

    更新日期:2017-12-14
  • Opening the floodgates: the implications of increasing platform openness in crowdfunding
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-08
    Michael Wessel, Ferdinand Thies, Alexander Benlian

    Managing platform ecosystems requires providers to govern the permeability of platform boundaries in order to strike a balance between openness and control. But is it worthwhile for platform providers to conduct screening processes for third-party offerings, or should they rather apply a laissez-faire approach and let the market determine winners and losers? In this study, we compare the market conditions on Kickstarter, one of the world’s largest crowdfunding platforms, before and after a policy change that relaxed the previously stringent screening process for new campaigns. By analyzing over 230,000 crowdfunding campaigns with a combined funding of over $1.9 billion that cover a 4-year period around the policy change, we find that increasing platform openness was a double-edged sword for the platform’s ecosystem. While Kickstarter’s revenue from commissions surged after the policy change due to an increase in the number of campaigns available on the platform, funding conditions for project creators and backers deteriorated. Project creators have to cope with lower success rates and an intensified competition due to a growing disproportion of backers to campaigns, while backers face higher uncertainties as project creators invest less in reducing information asymmetries. Our evidence from this natural experiment therefore suggests that increasing platform openness for third-party offerings can destabilize a platform’s ecosystem. We thus extend the literature on platform openness and on the implications of policy changes on platform ecosystems. Our findings also provide practical insights for different platform stakeholders into possible “ripple effects” that are triggered when policy changes alter platform openness.

    更新日期:2017-12-14
  • Inclusive technologies, selective traditions: a socio-material case study of crowdfunded book publishing
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-09-18
    Rob Gleasure, Philip O’Reilly, Michael Cahalane

    The number and scale of crowdfunding platforms has increased dramatically in recent years, arguably more so than any other open phenomenon. This increase has allowed several crowdfunding websites to capture significant public attention, e.g. Kickstarter, Indiegogo. Yet, the growth of these specialist websites is only one aspect of the increasing popularity of crowdfunding technologies. Another, less-commonly discussed development is the propagation and integration of crowdfunding technologies into novel hybrid or proprietary production contexts, such as t-shirts (e.g. Threadless) or video games (e.g. Star Citizen). Such integrations are to be expected as crowdfunding technologies grow and evolve. However, they also present new challenges for managers and system designers, as the manner in which different features of crowdfunding technologies are enacted becomes decreasingly predictable the more their application domains diverge. This study performs a socio-material case study of Unbound, an innovative book publisher based in the UK. Unbound uses crowdfunding technologies to help authors raise the funding necessary to publish their books. However, once this funding has been reached, Unbound assumes more typical publisher responsibilities, such as editing, printing, binding, shipping, and promoting these books. Findings from Unbound identify four categories of socio-material practices in this hybrid model, each of which contains multiple sub-practices enacting different material features. This includes practices for fundraising, practices for maintaining traditional publishing standards, practices for creative contribution by backers, and practices for motivations. Further, tensions are observed for each of these categories of practices, due to the conflicting demands for inclusivity and selectivity associated with crowdfunding and publishing, respectively.

    更新日期:2017-12-14
  • Copy, transform, combine: exploring the remix as a form of innovation
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-08-15
    Christoph M. Flath, Sascha Friesike, Marco Wirth, Frédéric Thiesse

    The reuse of existing knowledge is an indispensable part of the creation of novel ideas. In the creative domain knowledge reuse is a common practice known as “remixing”. With the emergence of open internet-based platforms in recent years, remixing has found its way from the world of music and art to the design of arbitrary physical goods. However, despite its obvious relevance for the number and quality of innovations on such platforms, little is known about the process of remixing and its contextual factors. This paper considers the example of Thingiverse, a platform for the 3D printing community that allows its users to create, share, and access a broad range of printable digital models. We present an explorative study of remixing activities that took place on the platform over the course of six years by using an extensive set of data on models and users. On the foundation of these empirically observed phenomena, we formulate a set of theoretical propositions and managerial implications regarding (1) the role of remixes in design communities, (2) the different patterns of remixing processes, (3) the platform features that facilitate remixes, and (4) the profile of the remixing platform’s users.

    更新日期:2017-12-14
  • The emergence of openness in open-source projects: the case of openEHR
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-06-20
    Daniel Curto-Millet, Maha Shaikh

    The meaning of openness in open source is both intrinsically unstable and dynamic, and tends to fluctuate with time and context. We draw on a very particular open-source project primarily concerned with building rigorous clinical concepts to be used in electronic health records called openEHR. openEHR explains how openness is a concept that is purposely engaged with, and how, in this process of engagement, the very meaning of open matures and evolves within the project. Drawing on rich longitudinal data related to openEHR we theorise the evolving nature of openness and how this idea emerges through two intertwined processes of maturation and metamorphosis. While metamorphosis allows us to trace and interrogate the mutational evolution in openness, maturation analyses the small, careful changes crafted to build a very particular understanding of openness. Metamorphosis is less managed and controlled, whereas maturation is representative of highly precise work carried out in controlled form. Both processes work together in open-source projects and reinforce each other. Our study reveals that openness emerges and evolves in open-source projects where it can be understood to mean rigour; ability to participate; open implementation; and an open process. Our work contributes to a deepening in the theorisation of what it means to be an open-source project. The multiple and co-existing meanings of ‘open’ imply that open-source projects evolve in nonlinear ways where each critical meaning of openness causes a reflective questioning by the community of its continued status and existence.

    更新日期:2017-12-14
  • Social control in information systems development: a negotiated order perspective
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-10-23
    Cecil Eng Huang Chua, Michael D. Myers

    Control is vital for IS projects to be delivered on time and within budget. Control theory helps us better understand and explain control in information systems operations and development. However, simplistic notions about control do not correspond to how control actually works. We believe that a social perspective that sees controls as negotiated orders, and not just things imposed by controllers on controlees, better explains control of IS projects and operations. Through an interpretive case study of client–vendor control in the IS department of a large agricultural distributor, we show that: (1) control enactment involves the controller’s consideration of the social and organizational context as well as the controller’s intention. (2) Control enactment involves a socially constructed meaning and unintended consequences. (3) The control enactment also involves controlee intent either because of negotiation with the controller, or indirectly by way of alternative structures. Finally, (4) the control itself influences the controller and controlee in unanticipated ways. Seeing control as the result of negotiated orders between controllers and controlees contributes to control theory by suggesting that, in practice, negotiation, shaping and re-appropriation are necessary for successful control enactment.

    更新日期:2017-12-14
  • Social Machines: how recent technological advances have aided financialisation
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-03-06
    Tiejun Ma, Frank McGroarty

    In recent years, financial markets have been fundamentally transformed by innovations in information technology, in particular with regard to the web, social networks, high-speed computer networks and mobile technologies. We borrow the concept of Social Machines from Web Science as a single concept that captures the essence of all these recent technological changes to argue that the emergence of these Social Machines has aided the transformation of financial markets and society. This study explores the formation of these Social Machines with three sample disruptive technologies – automated/high-frequency trading, social network analytics and smart mobile technology. Through critical reflective analysis of these three case studies, we assess the impact of information technology innovation on financialisation. We adopt three case studies – automated trading; market information extraction using social media technologies; and information diffusion and trader decision-making with mobile technology on financial and real sector changes – which demonstrate the increasing trend of transaction velocity, speculative trading, increased complex information network, accelerated inequality and leverage. Our findings demonstrate that technologically enabled financial Social Machines harness crowd wisdom, engage disparate individual traders to produce more accurate price estimations, and have enhanced decision-making capability. However, these same changes can also have a simultaneously detrimental effect on financial and real sectors, in some situations exacerbating underlying distortions, such as misinformation due to complex information networks, speculative trading behaviour, and higher volatility with transaction velocity. Overall, we conclude that these innovations have transformed the fundamental nature of key aspects of the finance industry and society as a whole.

    更新日期:2017-12-14
  • A taxonomy of financial market manipulations: establishing trust and market integrity in the financialized economy through automated fraud detection
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-03-06
    Michael Siering, Benjamin Clapham, Oliver Engel, Peter Gomber

    Financial market manipulations represent a major threat to trust and market integrity in capital markets. Manipulations contribute to mispricing, market imperfections and an increase in transaction costs for market participants and in costs of capital for issuers. Manipulations are facilitated by increased transaction velocity, speculative trading and abusive usage of new trading technologies, i.e., they are directly linked to financial sector changes that drive financialization. Research at the intersection of financialization and IS might support regulatory authorities and market operators in improving market surveillance and helping to detect fraudulent activities. However, confusing terminology is prevalent on financial markets with respect to different manipulation techniques and their characteristics, which hampers efficient fraud detection. Furthermore, recognizing manipulations is challenging given the large number of information sources and the vast number of trades occurring not least because of high-frequency traders. Therefore, automated market surveillance tools require a comprehensive taxonomy of financial market manipulations as a basis for appropriate configuration. Based on a cluster analysis of SEC litigation releases, a review of the latest market abuse regulation and academic studies, we develop a taxonomy of manipulations that structures and details existing manipulation techniques and reveals how these techniques differ along several dimensions. In a case study, we show how the taxonomy can be utilized to guide the development of appropriate decision support systems for fraud detection.

    更新日期:2017-12-14
  • Crossing the next frontier: the role of ICT in driving the financialization of credit
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-22
    Daniel Drummer, Stefan Feuerriegel, Dirk Neumann

    Financialization describes a phenomenon whereby financial markets assume an increasingly dominant role within the economy. This paper seeks to dissect the role of information and communications technology (ICT) in financialization by following a cross-disciplinary approach across finance, economics and information systems. Accordingly, we develop a general framework describing the relationship between ICT and financialization. This framework allows us to investigate the recent rise of online marketplaces for credit. Consequently, ICT is not only facilitating, but fundamentally driving a disintermediation of banks through advances in computing, communication and information technology. We also provide supporting evidence from interviews with almost 40 senior experts and C-level executives. Interestingly, only rather recent innovations have enabled the popularity of marketplace lending, such as cloud computing, big data, scalable IT infrastructures and comprehensive ecosystems of programming interfaces. In contrast, we observe a slow integration of advanced analytics in the field of risk management. Based on our analysis, the paper also discusses cross-country implications for marketplace lending, financialization and regulation.

    更新日期:2017-12-14
  • High-frequency trading and conflict in the financial markets
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-31
    Ricky Cooper, Jonathan Seddon, Ben Van Vliet

    The last few decades has seen an ever-increasing growth in the way activities are productized and associated with a financial cost. This phenomenon, termed financialization, spans all areas including government, finance, health and manufacturing. Recent developments within finance over that past decade have radically altered the way trading occurs. This paper analyses high-frequency trading (HFT) as a necessary component of the infrastructure that makes financialization possible. Through interviews with HFT firms, a software vendor, regulators and banks, the effects of HFT on market efficiency, and its impact on costs to long-term investors are explored. This paper contributes to the literature by exploring the conflict that exists between HFT and traditional market makers in today’s fragmented markets. This paper argues that society should be unconcerned with this conflict and should instead focus on the effects these participants have on the long-term investors, for whom the markets ultimately exist. In order to facilitate the best outcomes, regulation should be simple, aimed at keeping participants’ behavior stable, and the interactions among them transparent and straightforward. Financialization and HFT are inextricably linked, and society is best served by ensuring that the creative energy of these market participants is directed on providing liquidity and removing inefficiencies.

    更新日期:2017-12-14
  • High-frequency trading and its role in fragmented markets
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-08-15
    Martin Haferkorn

    Securities trading underwent a major transformation within the last decade. This transformation was mainly driven by the regulatory induced fragmentation and by the increase of high-frequency trading (HFT). On the basis of the electronic market hypothesis, which poses that coordination costs decline when markets become automated, and the efficient market hypothesis in its semi-strong form, we study the effect of HFT on market efficiency in the European fragmented market landscape. In doing so, we further incorporate the realm of financialization, which criticizes the increase in transaction speed. By conducting a long-term analysis of CAC 40 securities, we find that HFT increases market efficiency by leveling midpoints between Euronext Paris and Bats Chi-X Europe. On the basis of a cross-country event study, we analyze the effect of the German HFT Act. We observe that the midpoint dispersion of blue chip securities between the two leading venues Deutsche Boerse and Bats Chi-X Europe increased. We conclude that HFT increases market efficiency in the European market landscape by transmitting information between distant markets.

    更新日期:2017-12-14
  • Process is king: Evaluating the performance of technology-mediated learning in vocational software training
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-06-26
    Matthias Söllner, Philipp Bitzer, Andreas Janson, Jan Marco Leimeister

    Technology-mediated learning (TML) is a major trend in education, since it allows to integrate the strengths of traditional- and IT-based learning activities. However, TML providers still struggle in identifying areas for improvement in their TML offerings. One reason for their struggles is inconsistencies in the literature regarding drivers of TML performance. Prior research suggests that these inconsistencies in TML literature might stem from neglecting the importance of considering the process perspective in addition to the input and outcome perspectives. This gap needs to be addressed to better understand the different drivers of the performance of TML scenarios. Filling this gap would further support TML providers with more precise guidance on how to (re-)design their offerings toward their customers’ needs. To achieve our goal, we combine qualitative and quantitative methods to develop and evaluate a holistic model for assessing TML performance. In particular, we consolidate the body of literature, followed by a focus group workshop and a Q-sorting exercise with TML practitioners, and an empirical pre-study to develop and initially test our research model. Afterward, we collect data from 161 participants of TML vocational software trainings and evaluate our holistic model for assessing TML performance. The results provide empirical evidence for the importance of the TML process quality dimension as suggested in prior literature and highlighted by our TML practitioners. Our main theoretical as well as practical contribution is a holistic model that provides comprehensive insights into which constructs and facets shape the performance of TML in vocational software trainings.

    更新日期:2017-12-14
  • Voluntary use of information technology: an analysis and synthesis of the literature
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-30
    HsingYi Tsai, Deborah Compeau, Darren Meister

    Voluntariness is recognized as an important influence on individual and collective technology acceptance. We conducted a comprehensive review of this literature and identified a rich set of voluntariness concepts and methods of operationalization. However, while considerable empirical evidence is reported in the literature, our review also revealed inconsistent results concerning the relationship between voluntariness and other concepts. Against that backdrop, we synthesized the literature into three types of voluntariness – perceived, intended and realizable voluntariness (RVOL), and showed how prior literature had not adequately accounted for RVOL. Moreover, we examined the multiple mechanisms that influence voluntariness and created a model to describe how to advance new knowledge about the important relationships among the three types of voluntariness and between voluntariness and user behavior. We argue that these concepts and relationships may help advance our knowledge of how a new technology is used individually and collectively in organizations.

    更新日期:2017-12-14
  • Information sharing and user behavior in internet-enabled peer-to-peer lending systems: an empirical study
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-30
    Joseph Feller, Rob Gleasure, Stephen Treacy

    Internet-based information systems (IS) have enabled various forms of collective intelligence, action, and resources (e.g. open source software, innovation marketplaces, crowdsourcing, and crowdfunding). Within the domain of crowdfunding, Internet-enabled Peer-to-Peer Lending Systems (IP2PLS) have emerged as a disruptive technology, with implications for the financial services sector, business capitalization strategies, and personal and community development. IS research investigating user behavior in IP2PLS has revealed the saliency of social identity and personal transparency (as expressed through information sharing) in such systems. Prior research has largely focused on a small number of IP2PLS providers, thus this study examines a very large but under-researched platform. The study tests a theoretical model based on Social Identity Theory and prior IP2PLS studies, through an analysis of 116,667 loan records, and a subsequent analysis of 1000 manually coded records, to investigate the impact of information sharing on user (lenders and borrowers) behavior. The study reveals the importance of social (vs financial) data, and further reveals relationships that frequently contradict prior findings from other IP2PLS. The study thus implies the need for a more heterogeneous view of the IP2PLS domain, and the need to more fully understand as systems that support user behavior by enabling social information exchanges.

    更新日期:2017-12-14
  • The regulatory, technology and market ‘dark arts trilogy’ of high frequency trading: a research agenda
    J. Inf. Technol. (IF 6.953) Pub Date : 2016-11-07
    Wendy L. Currie, Jonathan J. M. Seddon

    Computerization has transformed financial markets with high frequency trading displacing human activity with proprietary algorithms to lower latency, reduce intermediary costs, enhance liquidity and increase transaction speed. Following the “Flash Crash” of 2010 which saw the Dow Jones Industrial Average plunge 1000 points within minutes, high frequency trading has come under the radar of multi-jurisdictional regulators. Combining a review of the extant literature on high frequency trading with empirical data from interviews with financial traders, computer experts and regulators, we develop concepts of regulatory adaptation, technology asymmetry and market ambiguity to illustrate the ‘dark art’ of high frequency trading. Findings show high frequency trading is a multi-faceted, complex and secretive practice. It is implicated in market events, but correlation does not imply causation, as isolating causal mechanisms from interconnected automated financial trading is highly challenging for regulators who seek to monitor algorithmic trading across multiple jurisdictions. This article provides information systems researchers with a set of conceptual tools for analysing high frequency trading.

    更新日期:2017-12-14
  • Grounded Design – a praxeological IS research perspective
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-30
    Markus Rohde, Peter Brödner, Gunnar Stevens, Matthias Betz, Volker Wulf

    In this paper, we propose Grounded Design – a particular design research (DR) approach rooted in a practice-theoretical tradition. It assesses the quality of information technology (IT) design through evaluation of emerging changes in social practices, which result from the appropriation and use of IT artifacts. The paper starts with a systematic analysis of the reasons for persistent limitations of traditional information systems DR, specifically in coping with problems of contingency and self-referentiality. Following this critique, the principles of Grounded Design are presented. Grounded Design is applied in case studies where we reconstruct the social practices observed before and during the design and appropriation of innovative IT artifacts. We call these context-specific research endeavors ‘design case studies.’ In conducting these case studies, Grounded Design builds upon well-established research methods such as ethnographical field studies, participatory design and action research. To support the transferability of its situated findings, Grounded Design suggests documenting increasing numbers of design case studies to create an extended, comparative knowledge base. Comparing cases allows for the emergence of bottom-up concepts dealing with the design and appropriation of innovative IT artifacts in social practice.

    更新日期:2017-12-14
  • How and why organisations use social media: five use types and their relation to absorptive capacity
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-30
    Daniel Schlagwein, Monica Hu

    In this paper, we examine the relation between social media use and the absorptive capacity of organisations. Over the past 10 years, many organisations have systematically adopted social media. Trade press and consulting companies often claim that the systematic use of social media increases the performance of organisations. However, such claims are typically neither empirically grounded nor theoretically examined. In this paper, based on key informant interviews at 20 organisations, we examine these claims empirically and theoretically. Firstly, we examine the ways in which social media are used by organisations. We identify five different social media use types that support different organisational purposes (broadcast, dialogue, collaboration, knowledge management and sociability). Secondly, we analyse how these five social media use types relate to organisations’ absorptive capacity. We find that particular social media use types (e.g., dialogue) support organisations’ absorptive capacity and, ultimately, their performance although others (e.g., sociability) do not.

    更新日期:2017-12-14
  • Generative innovation: a comparison of lightweight and heavyweight IT
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-30
    Bendik Bygstad

    This paper proposes a simple terminology for understanding and dealing with two current phenomena; we suggest calling them heavyweight and lightweight IT. Heavyweight IT denotes the well-established knowledge regime of large systems, developing ever more sophisticated solutions through advanced integration. Lightweight IT is suggested as a term for the new knowledge regime of mobile apps, sensors and bring-your-own-device, also called consumerisation and Internet-of-Things. The key aspect of lightweight IT is not only the cheaper and more available technology compared with heavyweight IT, but the fact that its deployment is frequently done by users or vendors, bypassing the IT departments. Our theoretical lens is generativity, the idea that complex phenomena arise from interactions among basic elements. In the context of IT, generativity helps to explain the creative potential of flexible digital technology for knowledgeable professionals and users. The research questions are: how is generativity different in heavyweight and lightweight IT, and what is the generative relationship between heavyweight and lightweight IT? These questions were investigated through a study of four cases in the health sector. Our findings show that (i) generativity enfolds differently in heavyweight and lightweight IT and (ii) generativity in digital infrastructures is supported by the interaction of loosely coupled heavyweight and lightweight IT. The practical design implication is that heavyweight and lightweight IT should be only loosely integrated, both in terms of technology, standardisation and organisation.

    更新日期:2017-12-14
  • What is information? Toward a theory of information as objective and veridical
    J. Inf. Technol. (IF 6.953) Pub Date : 2017-05-24
    John Mingers, Craig Standing

    Information systems are a strong and ever-growing discipline of enormous relevance to today’s informated world, and yet, as recent reviews have shown, there is still not an agreed and explicit conceptualization or definition of information. After an evaluative review of a range of theories of information, this paper develops and defends a particular theory, one that sees information as both objective and veridical. By objective, we mean that the information carried by signs and messages exists independently of its receivers or observers. The information carried by a sign exists even if the sign is not actually observed. By veridical, we mean that information must be true or correct in order to be information – information is truth-constituted. False information is not information, but misinformation or disinformation. The paper develops this theory and then discusses four contentious issues – information as objective rather than subjective; information as true or correct; information and knowledge; and information and the ambiguity of meaning. It concludes with a discussion of the practical implications of the theory.

    更新日期:2017-12-12
Some contents have been Reproduced with permission of the American Chemical Society.
Some contents have been Reproduced by permission of The Royal Society of Chemistry.
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