Examining emotions linked to live chat services: The role of e-service quality and impact on word of mouth

The purpose of this article is twofold: (1) to investigate the emotions experienced by banking customers when using live chat services and their impact on positive word-of-mouth intentions; and, (2) to identify which dimensions of e-service quality (accessibility, customer service and support, perceived security/privacy and design) impact these emotions. A survey was conducted with 682 members of a Web-based panel. Findings demonstrate that emotions, both positive and negative, significantly impact word of mouth. Results further reveal that customer service and support followed by design of live chat services mostly influence consumer emotions. On a practical level, the recommendations provided will improve consumer experience and encourage consumers to use live chat services. This is all the more important since such services are now part of the promotion and contribution of a sustainable mode of consumption that is accessible to all.

     

Implications of Web assurance services on e-commerce

The ongoing rapid growth in the popularity of the Internet is having a revolutionary impact on the way companies do business. Doing business online has become a necessity, not an option. However, some consumers are not completely comfortable using the Internet for transacting business because of concerns regarding security of their transactions. For these situations, consumer trust and confidence can be enhanced by a Web assurance service such as AICPA Trust Services. Building on prior studies, the study provides comprehensive information on current reporting requirements, differences among Web assurance services, and results of a recent consumer survey to obtain perceptions of Web assurance services. The theoretical foundation of the current study is based on the Assurance Gaps Model [Burke, K. G., Kovar, S. E., & Prenshaw, P. J. (2004). Unraveling the Expectations Gap: An Assurance Gaps Model and illustrative application. Advances in Accounting Behavioral Research, 7, 169–193]. E-business consumers (users of Web assurance services) can be dichotomized into older consumers and younger consumers, who have different expectations based on information asymmetries. Findings indicate that consumers value Web Assurance services, but younger consumers place greater value on these services than older consumers.     

Integration of Financial Services

Abstract

Integration financial services is a term with many meanings. Definitions might include:

• ownership of different segments of financial services,

• the distribution of products of one segment by another, and

• a consumer-centric strategy driven to satisfy the needs of the customer regardless of organizational structures.

For the purposes of my paper, I will define it as the erasing of boundaries leading to consumers receiving value propositions that are not restricted by traditional industry segment barriers.     

Understanding the intention to use mobile banking by existing online banking customers: an empirical study

The Indian banking sector can take advantage of the proliferation of smartphones as well as the government’s encouragement of cashless transactions to accelerate the use of mobile and online banking. The purpose of this study is to understand the initial acceptance of mobile banking by existing online banking users. Few studies have focused on online banking users’ behavioural intention to use similar services (such as mobile banking) in India. To this end, a theoretical model was developed using the technology acceptance model, which was extended to cover the adoption factors that influence users of online banking to use mobile banking. These adoption factors comprise perceived ease of use, perceived security, mobile self-efficacy, social influence and customer support. The dependent variable is customers’ behavioural intention to use mobile banking. A partial least squares structural equation modelling analysis was used to test the theoretical model with sample data from 420 online banking customers of various public, private, foreign and co-operative banks in India. The study found that the adoption factors had a significant impact on customers’ behavioural intention to use mobile banking. The findings of this study provide insight into digital banking channels, contribute to existing research on digital banking adoption and will educate banks and financial institutions on the adoption of mobile banking in India.

     

Mobile banking innovators and early adopters: How they differ from other online users?

The rapid pace of technological development has created opportunities for financial service providers to offer their services via multiple electronic channels. The mobile phone is one of the most promising but so far marginally adopted channel for using financial services by consumers. Earlier literature on innovation adoption argued that those among the first to adopt new innovations possess unique characteristics compared to the majority of consumers. This paper aims to study how mobile banking innovators and early adopters differ from other users of online banking services. An internet survey was conducted among customers of a large Scandinavian bank in Finland yielding 2,675 responses. Logistic regression was used to identify variables differentiating between users of mobile banking and other online banking services. Somewhat contradictory to earlier findings the results indicate that only age (p<0.0005) and gender (p=0.010) differentiate these two groups of customers, while education (p=0.957), income (p=0.624), occupation (p=0.596) and size of the household (p=0.151) were found to be insignificant in differentiating the groups. The results offer service providers better knowledge of the typical mobile banking user thus adding value to their marketing actions in the field of electronic banking.     

Making ends meet: How will the elderly manage their finances and post-retirement expenses?

Americans over the age of 50 control over half of the country's discretionary income and 75 per cent of all personal assets. As Americans live longer, the number of mature consumers in the United States is making a marked increase. Recently, researchers have focussed their attention on this market segment, looking at a variety of consumer behaviour issues. As this segment of consumers is becoming increasingly large, academicians and practitioners who study the consumer behaviour of older consumers search for ways to better segment and target this market. The present study adds to the current body of knowledge by investigating the financial services patronage preferences and post-retirement spending plans of this market, focusing on differences between various segments.     

Harm-advocating online content and subjective well-being: a cross-national study of new risks faced by youth

Harm-advocating online content includes pro-eating disorder, pro-self-harm, pro-suicide, and the positive portrayal of the deaths of real people (snuff or death sites). This material is often user-generated and easily accessible for an average online user, therefore offering a potential source of risk for many Internet users. This cross-sectional study examined the association between exposure to harm-advocating online content and users’ subjective well-being (SWB) among American (n = 1032) and Finnish (n = 555) young people aged 15–30. Exposure to different types of online harm-advocating content was prevalent in both countries. Lower SWB was associated with exposure to this material even when controlling for social networking site (SNS) activity and online and offline victimization. In the US sample, seeing death sites was not associated with SWB, but seeing other harm-advocating sites was. In both countries, those with high SNS activity were more likely to be exposed to online harm-advocating material. These results from two advanced information societies underline the importance of recognizing the existence of harmful online communities. These communities are grounded on social interaction that might involve risks for the well-being of adolescents and young adults.     

The interplay between mandatory country-by-country reporting,geographic segment reporting,and tax havens: Evidence from the European Union

We investigate whether mandatory public country-by-country reporting (CBCR) by European Union (EU) banks affects geographic segment reporting. We find no significant change in the reported number of geographic segments, country segments, or line items per geographic segment disclosed in segment reporting notes after the introduction of CBCR. Consistent with the notion that EU banks may aggregate geographic segments to obfuscate tax haven activities, we find a positive association between tax haven intensity and geographic segment aggregation. Further, we document the location of banks’ operations and the extent of their economic presence in tax havens. We find that EU banks report significantly higher profit margins, turnover per employee, and profit per employee, and lower book effective tax rates for operations located in tax havens, relative to non-tax havens. Our evidence suggests that mandatory public CBCR has limited impact on geographic segment reporting. Nevertheless, CBCR provides additional information to better identify the existence and scale of tax haven involvement. Our results should be informative for EU policymakers currently considering the expansion of public CBCR to all industries. They might also be relevant to researchers considering the decision usefulness of CBCR for financial statement users in estimating after-tax profitability and tax enforcement risk.     

Risk-adjusted value allocation for (non-traded) assets with performance ratios

We propose a new valuation principle for possibly non-traded assets based on an implicit definition of a benchmark. The valuation principle allows taking (default and shortfall) risk constraints explicitly into account. The resulting risk-adjusted value functional is monotonic, positively homogeneous, partially concave and allows for an additive allocation of risk-adjusted values of non-traded assets in a portfolio. The valuation principle is applied to the problem of hedging and pricing in incomplete markets. Furthermore, accounting for non-traded assets is considered and we derive a risk-adjusted balance sheet for non-deterministic cash streams.     

International Firm Lobbying and ED 8 Operating Segments

Exposure Draft 8 (ED 8) Operating Segments was introduced to replace the revised IAS 14 Segment Reporting and to align segment reporting requirements with their United States counterparts in SFAS 131. ED 8 proposed material changes in the identification, measurement and disclosure of corporate segment information. In response to the ED, there were 182 comment letters from various respondents including firms, professional associations, regulatory authorities and accounting firms. This paper investigates the influence of firm characteristics such as size, performance, and number of segments on firms’ lobbying position choices on ED 8. Results reveal that larger firms were more likely to lobby in favour of ED 8, and firms with two or fewer segments were more likely to lobby against ED 8. It also provides evidence that relatively profitable firms operating in an environment of low competition are less inclined to support ED 8.     

Modelling the post-industrial city

A new kind of city is emerging: globalized (connected to other cities in global networks); tertiarized and even quaternarized (dependent almost entirely for its economic existence on advanced services); ‘informationalized’ (using information as a raw material); and polycentric (dispersing residences and decentralizing employment into multiple centres or ‘edge cities’). The question is how we can adapt the urban and transportation models, which originated in the very different world of the 1960s, to these conditions, and what kind of model would then result.     

To Sustain a Vital and Vibrant Actuarial Profession

Abstract

Insurance markets are different from most other markets. Insurance markets have an inherent self-destructive tendency that can cause market failure. However, insurance markets not only exist, they thrive. This paper explores the essential role that actuaries play in countering problems that can cause market failure. Armed with our mathematical and business skills and strong sense of professionalism, actuaries are essential to the successful growth of insurance companies and insurance markets. The breakdown of barriers among segments of the financial services industry creates an opportunity for actuaries to apply these same skills to noninsurance financial institutions. Actuaries have a strong claim to becoming the profession the public relies upon to ensure that an adequate balance is kept between profits and solvency. The foundation of this claim is not the superiority of our intellectual tools. It is the advantages to society of actuaries as a well-defined, recognized group of trustworthy and professional financial managers.     

An assessment of the learning benefits of using a Web-based Learning Environment when teaching accounting

The impact and use of information and communication technology on learning outcomes for accounting students is not well understood. This study investigates the impact of design features of Blackboard¹ used as a Web-based Learning Environment (WBLE) in teaching undergraduate accounting students. Specifically, this investigation reports on a number of Blackboard design features (e.g. delivery of lecture notes, announcements, online assessment and model answers) used to deliver learning materials regarded as necessary to enhance learning outcomes. Responses from 369 on-campus students provided data to develop a regression model that seeks to explain enhanced participation and mental effort. The final regression shows that student satisfaction with the use of a WBLE is associated with five design features or variables. These include usefulness and availability of lecture notes, online assessment, model answers, and online chat.     

Aktuareksamen ved Københavns Universitet

Abstract

Extract

d1. Vis, at for fast x er en ikke voksende funktion af y og for fast y en ikke aftagende funktion af x, når dødsintensiteterne μg og μ ^I for de to live er ikke aftagende. Det forudsættes, at dødsaldrene for (x) og (y) er stokastisk uafhængige.     

Customer account relationships and e-retail banking usage<Superscript>1</Superscript>

Financial institutions are actively developing new electronic banking products for their retail customers. To date, the market leaders have drawn a disproportionably higher share of e-retail banking customers. In response, smaller institutions have become quite active in exploring ways to participate profitably in online banking. A major influence is from a customer relationship management (CRM) perspective, where institutions try to limit the outflow of current customers and direct high-value customers to potential products from a multi-product service offering array. These efforts can succeed only if retail bank marketers focus the promotion of the new products and services that can utilise this channel toward those customers who are most likely to find them attractive. The first aim of this study was to examine the role that online and electronic banking play in defining the customer's primary financial relationship. The analysis of 701 retail customers of a financial institution presented in this study suggests that banks and other institutions are highly vulnerable to loss of customers to rivals with extensive online services. A second aim was to examine to what extent information on banking relationships is able to extend CRM analysis beyond that offered by typical demographic and income data. Current customer account relationships are found to be highly predictive of use of electronic services use in general. And, interest in the use of specific online services is related to differing customer relationships in addition to ordinary demographic and balance information. These findings can be useful for retail banking in identifying potential high-value users from a customer relationship management perspective.     

The Relative Importance of Audit Quality Attributes

Corporate collapses and audit failures have threatened the credibility of the audit function, with audit quality once again being a major issue. Motivated by the significance of auditing and perceptions of audit quality in enhancing the reliability and credibility of financial statements, this article investigates the relative importance of audit team and audit firm attributes in perceptions of audit quality by users of audit services. Data are gathered from 81 users of audit services and analysed using adaptive conjoint analysis in order to measure the relative importance of audit team and audit firm attributes in perceptions of audit quality. The results show that, in general, users of audit services perceive audit team attributes as being relatively more important than audit firm attributes in perceptions of audit quality. The findings of the study have implications for regulators and the accounting profession concerned with improving confidence in corporate governance and the effectiveness and integrity of the audit process, and for audit firms in monitoring and promoting the quality of their audit services.     

Are audit partners’ compensation and audit quality related to their consulting revenues?

Recent accounting scandals have triggered renewed interest in the debate concerning whether audit firms should be banned from providing consulting services. Compared to the voluminous studies on consulting services to audit clients (i.e., non-audit services, hereafter NAS), little has been done to investigate consulting services to non-audit clients (hereafter CS). This study examines whether audit partners' revenues from CS are associated with: i) partners' compensation, and ii) audit quality (AQ), while controlling for revenues from NAS and auditing. We choose the Norwegian setting because of the unique and proprietary data on CS at the audit partner level. Our results provide initial evidence that partners' compensation is positively associated with their revenues generated from CS. Regarding AQ, our findings indicate no relation between AQ and partners' revenues from CS. This study contributes to the recent debate on multidisciplinary audit firms and should be of interest to regulators, audit firms, and users of audited financial statements.     

Elderly consumers and financial choices: A systematic review

The purpose of this paper is to investigate elderly choices and behaviors in financial services markets. A systematic review of a five-decade period (1970–2019) of academic research in the marketing field was carried out in order to identify elderly consumers’ decisions regarding financial asset management and legacy, highlighting the main findings of extant research and practical implications for marketers. Results shed light on financial asset management in terms of welfare, retirement planning, and investments for old age, as well as legacy practices in terms of special possessions, charities, and rites of passage. The study underlines the need to consider the heterogeneous nature of elderly consumers’ values and lifestyles in designing strategies for financial services and products, emphasizing that demographic differences alone are not adequate to effectively define market segments. Furthermore, the role of mixed marketing approaches considering elderly choices are discussed, together with implications for companies that want to target such consumer target.

     

Reconfiguring relations of accountability: Materialization of social media in the travel sector

Expanding use of Web 2.0 technologies has generated complex information dynamics that are propelling organizations in unexpected directions, redrawing boundaries and shifting relationships. Using research on user-generated content, we examine online rating and ranking mechanisms and analyze how their performance reconfigures relations of accountability. Our specific interest is in the use of so-called “social media” such as TripAdvisor, where participant reviews are used to rank the popularity of services provided by the travel sector. Although ranking mechanisms are not new, they become “power-charged”—to use Donna Haraway’s term—when enacted through Web 2.0 technologies. As such, they perform a substantial redistribution of accountability. We draw on data from an on-going field study of small businesses in a remote geographical area for whom TripAdvisor has changed ‘the rules of the game,’ and we explore the moral and strategic implication of this transformation.     

Defining the proposed factors for small business online banking: Interviewing the IT professionals

Small business customers that use electronic services are potentially more profitable than those who do not. ¹ For banking and financial institutions, understanding small business customers' online behaviours and preferences will be one of the key drivers to successfully reach this segment efficiently and economically. Following a proven construct development methodology, this preliminary study completes the first steps by conducting interviews with information technology professionals. These information technology professionals were directly involved in the support of websites operated by several large banking organisations located in the southeastern United States. The information gathered from the subject group provides a foundation for the discussions as to how those organisations support, or fail to support, the delivery of electronic banking to small businesses, factors are proposed to define the construct of what constitutes successful small business online banking relationships.