Inflation,currency exchange rates,and the international securities markets

A time-state-preference model of an efficient and complete international financial market is employed to investigate the conditions under which the international Fisher Effect will hold, and the forward currency exchange rate will be an unbiased estimate of the future spot rate. The presence of stochastic inflation within countries in the fiat-currency prices of real goods will destroy both relationships, even in the absence of any institutional imperfections or trading barriers. Similarly, expected inflation rate differentials across countries will not coincide with spot-versus-forward currency exchange rate differentials.     

Twenty years on—Europe after 2012

In this paper the author uses the methodology of futurologists to paint a picture of Europe 20 years after the Single Market comes into force. The paper sets out to demonstrate that there is a paradigm shift under way in Europe which will lead to major changes for both marketers and educators during the first part of the 21st century.     

Choice and the Internet: From Clickstream to Research Stream

The authors discuss research progress and future opportunities for modeling consumer choice on the Internet using clickstream data (the electronic records of Internet usage recorded by company web servers and syndicated data services). The authors compare the nature of Internet choice (as captured by clickstream data) with supermarket choice (as captured by UPC scanner panel data), highlighting the differences relevant to choice modelers. Though the application of choice models to clickstream data is relatively new, the authors review existing early work and provide a two-by-two categorization of the applications studied to date (delineating search versus purchase on the one hand and within-site versus across-site choices on the other). The paper offers directions for further research in these areas and discusses additional opportunities afforded by clickstream information, including personalization, data mining, automation, and customer valuation. Notwithstanding the numerous challenges associated with clickstream data research, the authors conclude that the detailed nature of the information tracked about Internet usage and e-commerce transactions presents an enormous opportunity for empirical modelers to enhance the understanding and prediction of choice behavior.     

Social network analysis in accounting information systems research

This paper introduces social network analysis as an alternative research method for conducting accounting information systems related research. With advances in information and communication technologies, transaction data are being recorded in electronic form, resulting in a variety of research opportunities to examine dyadic interactions. A network consists of a set of nodes connected by ties. Social network research focuses on how outcomes are influenced not just by the attributes of the nodes (e.g. individuals), but also by the ties connecting nodes to each other. The nodes are typically conceptualized as actors, such as individuals, teams, or organizations. A unique network structure is created to reflect each different type of tie, such as trust, advice, collocation, or organizational affiliation. Social network analysis can be used for research examining individual, dyadic or network levels of analyses, and is a powerful tool for conducting multi-method research. Given the vast amounts of trace electronic data collected via accounting information systems, this paper reviews how social network analysis not only opens new research avenues for accounting information systems researchers, but identifies opportunities for the field of accounting information systems to inform social network research by identifying new network structures and dynamics leveraging transactional data.