User Perceptions of Mobile and Online Channels for Purchasing Financial Products

ABSTRACT

This study investigates users' perceptions of costs and benefits of mobile versus online, PC-based, channels for accessing financial information and completing financial transactions. Results indicate that, in the financial services context, the mobile channel has no perceived advantages over the online channel. The older online channel does have several perceived advantages related to transaction cost, risk, ease of use, meeting financial goals, and information accessibility. The channels are similar on four dimensions, but most of the similarities arise because the online and mobile channels enable purchase of the same financial products. Finally, users are more willing to use the mobile channel for less risky tasks (accessing information) than they are for more risky tasks (buying financial products).     

Are Farmers' Market Shoppers Different From Cross-Shoppers? The Case of Hawaiian Avocado Purchasers

Small- and medium-size growers use direct marketing and farmers’ markets to access customers and avoid supply chain intermediaries that increase costs of getting products to consumers. This study examined consumers’ use of agricultural product information sources and their shopping outlet patronage preferences for one type of locally grown produce: avocados.

Two farmers’ market segments were identified: 1) shops only farmers’ markets and 2) cross-shops grocery stores. Product information came from a variety of sources: media, retailers, and organizations. “Buy Local” or “product origin” were considered in produce shopping decisions. One dimension, “Buy Local,” was significant in differentiating farmers’ market segments.     

The effect of presentation,product availability and ease upon transaction reliability for online food delivery aggregator applications – moderated mediated model

ABSTRACT

With advancements in mobile technologies, online food-delivery aggregators (OFA) have become an important distribution channel for restaurants. This study examines how the OFA applications affect diner’s cognitive and affective states and subsequent behavior by empirically testing a research model that incorporates antecedents of transaction reliability for restaurant order booking using a mobile application. Data collected from a survey of 458 respondents are analyzed using SEM. Drawing from SOR, CVT, and cue theory, the research established that product presentation and ease of use predict transaction reliability and are important mobile application attributes while choosing a particular OFA. The moderated mediation model extends the stimulus-organism-response framework and the consumer value theory. The findings demonstrate the moderating influence of gender, where the relationship is stronger for females. The study has a positivist approach with causalities satisfying the fundamental law of SOR theory. Higher media richness shall lead to a positive feeling about the product. A good presentation of the products on the mobile screen shall enhance the perception of product availability. The presence of abundant products makes it easy to search, thereby ease of searching the mobile screen. Mobile applications should be updated regularly to keep pace with the ever-changing mobile technologies.     

What Drives Financial Innovations in Kenya’s Commercial Banks? An Empirical Study on Firm and Macro-Level Drivers of Branchless Banking

ABSTRACT

This paper examines the firm- and macro-level drivers of financial innovations in Kenya’s commercial banks. We focus on branchless banking innovations, namely: mobile banking, agency banking, internet banking and automated teller machines. These financial innovations represent a departure from traditional branch based banking. We conduct an empirical analysis of the four financial innovations using Koyck distributed lag models, estimated using dynamic panel estimation with System Generalized Method of Moments. We use 10-year panel data from 42 out of 43 commercial banks in Kenya covering the years 2004–2013. We provide empirical evidence that at the firm level, branchless banking is driven by firm size, transaction cost, agency costs, technological developments at the firm level and firm constraints. In addition, at the macro level, regulation, technological developments at the macro level, incompleteness in financial markets and globalization are important drivers of branchless banking.     

Conventionalists,Connectors, Technoisseurs and Mobilarti: Differential profiles of mobile marketing segments based on phone features and postmodern characteristics of consumers

The high penetration of mobile phones amongst the South African population presents mobile phones as an attractive interactive marketing communication medium. This paper argues that the access and actual use of different phone device features can be productively used as a segmentation approach, which may enable marketers to be more effective in planning interactive marketing communication plans. This study, based on 330 students, developed segments derived from mobile phone usage patterns using cluster analysis. The outcome revealed four clusters that were named: Connectors, Conventionalists, Technoisseurs and Mobilarti. Connectors made daily use of a full range of communication functions. Conventionalists were inclined to limit their use of mobile phone features to talking and texting. Technoisseurs were found to use a whole range of sophisticated mobile phone facilities. Mobilarti were identified as a group of expert users; using the full range of functions available to them on their phones, despite recording the lowest percentage of smartphone ownership when compared to the other groups. These groups were further profiled by analysing attitudinal and behavioural variables pertaining to two newly developed postmodern dimensions, which were introduced in the study as mobile importance as an attitudinal aspect, and social transformation as a behavioural outcome. For marketers, an understanding of the proposed segments, as well as the differences in attitudes towards mobile importance and social transformation behaviours, coupled with typical financial and social realities of these segments, allow targeting strategies that are more clearly actionable.     

Price discovery among SSE 50 Index-based spot,futures, and options markets

This paper studies the contribution of newly launched SSE 50 Index-based options and futures to price discovery. We find that the derivatives markets quickly begin exhibiting price leadership over the corresponding spot market, despite their short history; the information share from both derivatives markets rose from 59.84% in mid-2015 to 84.6% in mid-2017. Using substantial regulation changes during the sample period, we test the trading cost hypothesis. The increases in derivatives transaction costs do not immediately impede their roles in price discovery. Findings suggest that in nascent and immature markets, investors’ trading experience matters more than trading costs.     

African Entrepreneurs and International Coordination in Petty Businesses: The Case of Low-End Mobile Phones Sourcing in Hong Kong

Abstract

This paper examines the contribution of African entrepreneurs to world trade through global coordination. Unlike the multinational giants which earn impressive profit through global sourcing, small African entrepreneurs survive by identifying opportunities in petty businesses and exploiting narrow profit margin. Through careful economic calculation, they buy low-end goods from one part of the globe and sell them in the other part. Their self-interest activities enhance global well-being. This paper begins with an Austrian perspective of international entrepreneurship and global coordination. The theory is illustrated by African entrepreneurs who source Shenzhen-made mobile phones in Hong Kong and sell them in Africa. By arbitraging price differentials, they earn pure entrepreneurial profit. A detailed case study of the global coordination of a Tanzanian entrepreneur will be presented. This paper concludes that, as a result of the effort of African entrepreneurs, low-end mobile phones manufactured in Shenzhen are shipped to Hong Kong and consumed by people in Tanzania, bringing benefits to all parties concerned. The case study fully illustrates the principle of the ‘invisible hand’ in the global market.     

Developing an Effective Mobile Rescue Support System

Abstract

Mobile computing technology is now rapidly developing in the area of health care service requiring the use of mobile access to information at remote locations. Mobile information transmission systems distribute data to and from remote basis with information sent back and forth using client/server architecture through any wireless communication media. As such, decision-making for any application domain could then be based on complete knowledge as events occur. This immediate decision-making at a critical time is of particular importance in the case of accidents and/or disaster. However, many application obstacles within wireless computing are yet to be resolved. One major issue is the speed of data retrieval, which directly affects the performance of mobile database applications and can affect the emergency rescue process. In this paper, we investigate a semantic-based transaction management mechanism for mobile emergency rescue support system. We then develop a prototype system by using the mechanism and evaluate the performance of the system.     

Information Search and Product Returns Across Mobile and Traditional Online Channels

Product returns will soon cost firms a trillion dollars annually; e-commerce appears more at risk for these costs relative to offline channels. Retailers thus need strategic insights into which factors increase customers’ return propensity and when the short-term costs of returns might be offset by future customer purchases. This article reports two studies that use transaction data from two large apparel e-tailers. Study 1 demonstrates that due to the differences between mobile and traditional online channels, consumers form a larger consideration set when they shop through mobile channels, and this distinctive search practice spills over onto return rates. That is, return rates are lower in mobile channels, and the use of the mobile channel also alters the effect of discount promotions. The findings in Study 2 suggest that future purchases by consumers, after a return, are contingent on category characteristics. In categories in which customers can easily learn from their previous return experience, product returns positively increase future spending, but the opposite is true in categories in which it is difficult to learn.     

Price and Earnings Momentum,Transaction Costs,and an Innovative Practitioner Technique

We use an innovative practitioner technique to investigate the interplay between the ex post performance of momentum strategies and transaction costs, rebalancing frequency, turnover constraints, and fund size. We have three interrelated main results: first, the level of and correlation between active returns to price momentum and earnings momentum strategies vary dramatically with these factors; second, strategies that are fearful of ex ante transaction costs generate returns net of transaction costs that are far superior to the net returns of naive strategies; and third, obtaining better traction with the unique elements of each strategy yields a more profitable combined strategy.     

Does mobile money use increase firms’ investment? Evidence from Enterprise Surveys in Kenya,Uganda, and Tanzania

Private investment can be an important engine of economic growth in East African countries that are plagued with adverse economic conditions, despite recent growth rates. Against this backdrop, there has been substantial penetration of mobile money, moving beyond simple person-to-person exchanges towards adoption by private firms. This study explores whether there is a relationship between firm adoption of mobile money and firm investment. Using firm-level data that are nationally representative of the private sector in three East African countries—Kenya, Tanzania, and Uganda—a positive relationship is found between mobile money use and firm’s purchase of fixed assets. This relationship is attributed to reduced transaction costs, increased liquidity, and increased credit worthiness associated with the use of mobile phone financial services. The finding is largely driven by small- and medium-sized enterprises (SMEs).     

Are there peas in a pod when considering mobile phone and mobile applications use: A quantitative study

Despite the acknowledgement of the significance of income, affordability and cultural factors in using mobile phones research, there are few studies on how these factors affect females' use of mobile technology. Hence, this paper aims to expand knowledge on female consumers' use of mobile phones and mobile applications in developing countries. It develops a model based on combining the extended unified theory of acceptance and use of technology and the cultural influence model. Multi-stage cluster sampling was used to distribute hard copy questionnaires in Jordanian, Iraqi and UAE households led to 629 replies from female consumers. The results indicated that although income is an important factor, cost is not the highest barrier for females. Culture, society, national IT development and inclusive policies play a key role. This study contributes to existing literature by proposing a new integrated model acknowledging the role of income for females’ use of mobile phones.     

Becoming a Global SME: Determinants of SMEs' Decision to Use E‐Intermediaries in Export Marketing

Technological advances have made it feasible for small and medium‐sized enterprises (SMEs) to become active in global markets through information technology (IT)‐mediated electronic intermediaries (e‐intermediaries) instead of relying only on traditional export channels. E‐intermediaries may offer SMEs a level playing field for competing with their larger competitors. Based on transaction cost economics (TCE), this study develops a model that can address the question of which transaction costs and characteristics are closely related to e‐intermediary use by SMEs. In addition to providing a better understanding of e‐intermediaries, the study explores the relationships between e‐intermediary use, transaction costs, and transaction characteristics in the context of Korean SMEs. © 2013 Wiley Periodicals, Inc.     

A Framework for Supplier Relationship Management (SRM)

ABSTRACT

Vertical co-ordination of business-to-business relationships figures prominently as an effective response to inter-firm dependence. Current empirical works based on transaction costs economics, however, have scantily examined whether the alignment of inter-firm coordination really serves governance efficacy and lowers transaction costs. This study focuses on the transaction costs efficacy of vertical co-ordination in industrial purchasing relationships. Building on transaction costs arguments and related works within marketing and contingency theory, the author explores whether vertical co-ordination is an effective means to adapt to technologcal and economic inter-firm ties.

This research examines in particular possible impacts the buyer's manufacturing technology and deployment of specific assets on the governance efficacy of vertical co-ordination. Empirical findings from a survey of 171 industrial buying firms demonstrate that when asset specificity is substantial, increased vertical co-ordination reduces ex post transaction costs. Further, the governance efficacy of inter-firm co-ordination turned out to be more evident in purchasing relationships among buyers with flexible manufacturing technology (e.g., order based industries) than was the case in process production with high workflow rigidity.     

Culture,Perceived Value,and Advertising Acceptance: A Cross-Cultural Study on Mobile Advertising

Abstract

Adverting standardization has been widely discussed since 1990s. Recently, this discussion has been extended to mobile advertising. When it comes to adopt a standardization or localization strategy, it is important that marketers understand how mobile advertising is perceived in different markets. This study examines the impacts of four perceived values of mobile advertising on young Australian and Chinese consumers’ acceptance of mobile advertising. The findings suggest that perceived functional value have the most positive effect on mobile advertising acceptance, followed by credibility and interactivity value. Further analyses reveal that culture moderates the relationships between perceived values and advertising acceptance.     

Marketing Research With Telephone Surveys: Is It Time to Change?

ABSTRACT

Telephone surveys have been an important mode for collecting primary data in the marketing field in recent decades. However, the scenario of telephone coverage is changing mainly due to a massive increase in mobile phone-only usage, which can put the quality of telephone survey estimates at risk. The advance of mobile phones as the preferred telecommunication is a global phenomenon occurring in every country, although at varying speeds. This article examines the relationship between telephone coverage and the coverage bias of telephone survey estimates in the current scenario of telephone coverage across European countries. Findings reveal that the capacity for fixed-line telephone-based sampling frames to represent the overall adult population is becoming critical, especially in countries with declining fixed-line-telephone penetration rates.     

Transmission of Rice Prices from Thailand into West African Markets: The Case of Benin,Mali, and Senegal

ABSTRACT

The integration of West African rice market to the world market is assessed in order to derive the implication for food security. To this end, the transmission of rice price changes on the world market to selected markets in West Africa was examined to test for the presence of transaction costs. Using the two-regime threshold cointegration procedure on monthly price data, evidence in support of the hypothesis of asymmetric price transmission was found between Thailand and some West African markets. Price increases on the world market were more quickly transmitted to domestic price than were price decreases in Benin and Mali, suggesting short-run dynamic inefficiencies and the presence of transaction costs. In Senegal, the adjustment was linear, suggesting greater integration with the world rice market. The results suggest that West African governments should design and implement adequate policies to develop the domestic rice sector, improve market infrastructures in order to reduce their country dependency to international markets and ensure food security.     

Distance,production, and trade

Abstract

This paper investigates the relationship between geographical distance and both the extent of trade and foreign production. Industries engaged in exporting and co-production activities across national boundaries are identified through their use of the Offshore Assembly Provisions in the US tariff code. Findings counter conventional wisdom. Trade and foreign production activities are found to drop off rapidly over the first third of the distance scale, rise over the middle portion, reach a peak in the final third, and decline thereafter. This pattern suggests frictions associated with distance can be offset by government policies and other country attributes. Management control, information and communications costs, and the ability to implement just-in-time delivery strategies may not be as distance sensitive as previously thought. Theorists should re-evaluate the role of distance in trade models and refrain from using distance as a proxy for transport costs.     

电池与第三次工业革命

当我们试图寻找一个能够形成较长产业链并能提供巨大就业空间的超级产业,以作为实体经济发展的基础时,电池无疑处于这样的节点上。