BI Norwegian Business School

About: BI Norwegian Business School is a education organization based out in Oslo, Norway. It is known for research contribution in the topics: Corporate governance & Computer science. The organization has 525 authors who have published 2766 publications receiving 55406 citations. The organization is also known as: Handelshøyskolen BI.

Self-Service Banking: Value Creation Models and Information Exchange

Abstract: Introduction The growth in the number of PCs and Internet users has not been followed by a corresponding rapid adoption of banking services on the Internet International estimates of Internet users range from 35-50 percent of the population in countries with the highest adoption rate (ITU, 2001) These numbers may be underestimated as other surveys report an Internet adoption rate above 70 percent in Scandinavia (Tjostheim & Solheim, 2001) and the US ("How Consumers View Banks: ABA Consumer Survey Results," 2001) compared to 45-50 percent for the same countries by the International Telecommunication Union (ITU) Estimates of how many customers use Internet banking range from 8 percent (Cocheo, 2001) to 22 percent ("How Consumers View Banks: ABA Consumer Survey Results," 2001) for the US and around 30 percent in Scandinavia (Tjostheim & Solheim, 2001) In other words, less than half of the Internet users in Scandinavia have used the Internet for banking services, and less than one out of three in the US Banks are reporting steady growth of Internet banking users, but for the top five Internet banks in the US only 40-60 percent of the adopters are active (Furst, Lang, & Nolle, 2000) They may have found the relative advantage of Internet banking compared to other distribution channels to be smaller than the cost or effort of changing their behavior Self-service technologies are technological interfaces that enable customers to produce a service independent of direct service employee involvement (Meuter et al, 2000), ie person-to-technology service delivery (Dabholkar, 1994) Self-service technologies are viable for banks and other financial intermediaries because information processing is essential to their services Automation of standard services is expected to reduce the need for financial intermediaries while there will be continued demand for nonstandard, differentiated transactions and services (Emmons & Greenbaum, 1998) The technology holds great promise of future simplification and automation For instance, the next generation of international payment systems (eg electronic funds transfer networks) based on smart card technology (for use in eg bank cards, credit cards and electronic purses) with embedded digital IDs can be expected to simplify use of self-service and cross-border transactions by global standardization In a few years we will have mobile terminals with high capacity mobile communication; potentially these will be individualized, pocket size bank terminals The current consolidation in banking (Davis, 2000; Mishkin, 1998), together with an expected technology driven globalization of banking infrastructure, threaten to marginalize the parties who choose not to participate in the game Use of information technology and self-service has the potential for order-of-magnitude reductions to the cost of processing and transmitting information (Emmons & Greenbaum, 1998) Self-service banking is the use of self-service technologies in banking Examples of self-service banking include banking by telephone and the Internet, EFTPOS (Electronic Funds Transfer at Point Of Sale) terminals, automated teller machines and other interactive kiosks In this paper, self-service banking is limited to the retail segment which is very different from electronic integration in corporate segments (Retail banking is defined as banking services for small and medium sized enterprises (SMEs) and private customers) This paper explores some implications of increased self-service banking In particular it focuses on the relationship between value creation and information exchange The paper is divided into four sections First, the theoretical background includes a review of topics that are central to self-service banking Second, a framework for self-service banking provides a framework for analysis of self-service banking initiatives Third, the section current business models applies the framework for analyzing the existing practices and trends in self-service banking, particularly for Internet banking …

Dividend Growth, Cash Flow and Discount Rate News

Abstract: Using a new variable based on a model of dividend smoothing, we find dividend growth is highly predictable and cash flow news contributes importantly to return variability. Cash flow betas derived from this predictability are central to explaining the size effect in the cross section of returns. However, they do not explain the value effect; this is explained by noise betas. We also find that the relative importance of cash flow news in explaining recent stock price run-ups and subsequent falls increases when cash flow news is estimated directly.

Will you still trust me tomorrow? The causal effect of terrorism on social trust

Abstract: How do people respond to terrorist events? Exploiting the timing of the 2010 wave of the annual ‘Society Opinion Media’ survey in Sweden, we study the causal effect of the Stockholm bombings of 11 December 2010 on Swedish public opinion. Our main contribution is that we draw explicit attention to the link between terrorist events and individuals’ social trust. While we identify a strong effect on individuals’ concern over terrorism, any observed effects with respect to generalised and neighbourhood trust appear to be short-lived—suggesting that isolated terror events have only limited, transitory effects on established social attitudes.

Effects of Providing Total Cost of Ownership Information on Attribute Weights in Purchasing Decisions

Abstract: In this paper we investigate how the provision of total cost of ownership (TCO) information affects attribute weights in sourcing decisions, and how this effect is moderated by decision complexity. TCO quantifies the costs of each decision alternative for purchasing decisions, from the perspective of the buying organization. We consider incomplete TCO information, in that some non-financial attributes are not included in the TCO calculation, and we investigate unintended (and potentially disadvantageous) effects of providing decision makers with such information. Experiments with 817 participants were conducted, both students and managers. We found moderate support for the hypothesis, that when complexity was low, participants gave a higher weight to the attribute that was excluded from the TCO information. We found support for the hypothesis that when complexity was high, decision makers gave less weight to this attribute, but this result was only found for the most experienced subgroup of managers. Experience did, however, not necessarily have a positive effect. Results suggest that, due to the provision of TCO information, experienced decision makers were more likely to follow an evaluation process in which less attention was paid to attributes that were not part of the TCO calculation. This suggests that experienced decision makers could be less mindful of the incompleteness of TCO information.

Monetary Policy and the evolution of US economy

Abstract: This paper investigates the relationship between monetary policy and the changes experienced by the US economy using a small scale New-Keynesian model. The model is estimated with Bayesian techniques and the stability of policy parameter estimates and of the transmission of policy shocks examined. The model fits well the data and produces forecasts comparable or superior to those of alternative specifications. The parameters of the policy rule, the variance and the transmission of policy shocks have been remarkably stable. The parameters of the Phillips curve and of the Euler equations are varying.