Side Of Transaction Research Articles

Solving the product uncertainty hurdle in social commerce: The mediating role of seller uncertainty

Social commerce, which combines the transactional side of e-commerce with social interactions, has grown in popularity throughout the last years. Despite the fact that the issue of uncertainty in e-commerce has been extensively discussed, little is known about the mechanisms that customers of social commerce employ to lessen their perceptions of uncertainty. The role of various factors, including return policy leniency, information quality, seller popularity, seller reputation, and number of positive comments, in product uncertainty in social commerce is still little understood. Additionally, the social commerce literature indicates that more research is required on the mediating role of seller uncertainty. According to the empirical evidence from 471 customers, return policy leniency, information quality, seller popularity, seller reputation, and number of positive review comments all have significant negative effects on seller uncertainty. In addition, the results demonstrate that seller uncertainty partially mediates the relationships between these factors and customers’ perceptions of product uncertainty in social commerce. These findings reveal important implications for both practice and theory.

Joint optimization of two-dimensional preventive maintenance parameters, technology level and product price under continuous usage rate and agent warranty services

ABSTRACT An efficient two-dimensional warranty model with the possibility of extending after-sale services to the end of the product life is developed in which services in the extended warranty period are assigned to an agent as a transaction side. To control product failures, two factors are taken into account in the proposed model: (1) the manufacturing technology level which results in a different reliability outcome for the product; and (2) a two-dimensional maintenance policy with respect to customers’ usage rate. In addition, in order to adapt the model to reality, we depart from the literature by considering the continuous nature of the usage rate variable. Finally, in order to confirm the effectiveness of the model, some comparative studies are carried out. The obtained results reveal that preventive maintenance (PM) activities lead to a considerable rise in cost savings. Besides, in comparison with one-dimensional PM policies based on product age and usage, using a two-dimensional PM policy improves the economic criteria. Furthermore, the presence of the agent has a great impact on reducing the customer’s cost as well as the failure rate after the basic warranty period.

Exchanged actors behind the creation of sense of place value in indigenous tourism enterprise Karangrejo Borobudur Indonesia

Exchanged actors behind the creation of sense of place value in indigenous tourism enterprise Karangrejo Borobudur Indonesia

BUILD FAMILY COMMUNICATION DURING THE COVID-19 PANDEMIC

The COVID-19 pandemic, which has been running for more than two years, has changed people's lives and routines, affecting all fields, be it economics, politics, social, culture and education. Teaching and learning activities are also carried out at home. Children are more often at home than outside. Therefore, parents need to build communication within the family through intense interaction with their children. This study discusses how the efforts made by parents during the covid pandemic. The Interaction and Transactional Theory used in this study discusses how a relationship is built from just an interaction but also goes to the transactional side. The method used is descriptive qualitative to describe the atmosphere in the family when parents try to build communication with children intensely, namely by interacting through communication, both verbal and nonverbal. The data collection technique was by conducting interviews each via e-mail and whatsapp on several families (informants) who have children aged 4-15 years. The findings show that during the COVID-19 pandemic, parents communicated by directing their children to study between the morning and evening hours. According to them, it is quite difficult to direct children to study, because they prefer to watch television or video/games, and play with their favorite toys. Children need to be persuaded to stay willing to learn or do positive activities so they don't get bored. But in the end the children are also willing to learn and do positive activities after parents communicate well about the importance of learning.

“Can you send us a PM please?” Service recovery interactions on social media from the perspective of organizational legitimacy

Drawing on a discursive approach to legitimation (Erkama and Vaara, 2010; Higgins and Walker, 2012; Glozer et al., 2019), this study investigates the (de)legitimation strategies used by companies and (potential) customers in private and public CMC complaint communication, and the interactional dynamics between them. Using the Aristotelian framework of persuasive appeals ethos, logos, and pathos, we analysed (1) 91 emails (replies to complaints from a varied sample of large UK companies), (2) 91 customer reactions to these replies on companies’ public Facebook pages and Twitter, and (3) 383 additional comments to these posts made by the company, the customer, and other stakeholders. The results reveal a clear shift in companies’ private versus public discourse: While they mainly seek legitimacy in email replies by substantiating their complaint decision (logos) and by accommodating to the customers’ feelings (pathos and ethos), their social media interventions are mainly about redirecting customers to a private channel to avoid having to deal with the transactional side of complaint handling in public. Customers, in their turn, delegitimate these companies by primarily criticizing companies’ service failures and service recovery efforts (ethos) and – to a lesser extent – by defending their case (logos) and expressing negative emotions (pathos). In terms of interactional dynamics, the results show that companies are not comfortable with implementing a dialogic approach. Their attempts at discursive finalization, i.e., silencing consumers’ negative feedback, clearly expose social media agents’ lack of agency and power to build up relationships with customers and perform adequate service recovery.

Accounting, analysis and auditing integration as tools for effective company liability management

The article reviews the issues of effective management of the accounts payable, which financial stability and stability of the company depend on the state of the company, which is extremely important for business at the moment. Based on the analysis of scientific works of domestic and foreign scientists-specialists in the field of accounting, auditing and analysis, existing practice of company liability accounting, auditing and analysis organization, recommendations for effective management of accounts payable are developed and summarized. Recommend to make well-known coefficient analysis of the turnover of working capital, including for the management of accounts payable, which allows you to identify the weaker aspects of debt management practices. Foreign practice of company liability accounting, auditing and analysis is introduced. Examples of inefficient liability management in South African companies are given. The procedure for accounting of debts for which limitation period has expired and which has tax consequences, is briefly reviewed. Concluded that the majority of Kazakhstani companies carry out their activities at the expense of borrowed funds, since the share of their own funds in the capital is very low. When dealing with any contractors, it is important to remember that the business should bring benefit to both sides of transaction. The integration of accounting, analysis, and auditing of the company’s liabilities contributes to compliance with this simple rule. Key words: liabilities, payables, accounting, audit and analysis system, accounts payable management, financial stability, solvency, borrowed capital, integration.

Based on point-to-point network extended credit authentication model

Research shows that P2P technology exist many problems about reliability in the Internet credit industry. It has become particularly important to ensure the reliability of users and improve the success rate of transactions. In this paper, the traditional trust identification model is improved, and the P2P business transaction is integrated into the credit identification model as a dynamic indicator. -On this basis, a block chain is constructed with credit recognition model as intelligent contract. Through the block chain network based on the credit identification model, the credit value of each user will be dynamically evaluated. The block chain network will ensure the credibility of the dynamic indicators of transactions, so as to ensure the reliability of the customer credit value evaluation. Therefore, a quantitative standard that both parties can trust can be established. Without the guarantee of the third party, both sides of P2P transaction can define the trustworthiness of the transaction parties. That guarantees the reliability of the transaction.

A Bayesian Game Based Vehicle-to-Vehicle Electricity Trading Scheme for Blockchain-Enabled Internet of Vehicles

With ever increasing people's awareness of low carbon and environmental protection, electric vehicles are gradually gaining wide popularity. However, the driving endurance of the electric vehicle is the biggest shortage that hinders the fully acceptance of this new vehicle technology. To deal with this shortage, this paper proposed a vehicle-to-vehicle (V2V) electricity trading scheme based on Bayesian game pricing in blockchain-enabled Internet of vehicles (BIoV). Specifically, the Bayesian game is adopted for pricing in the distributed BIoV with incomplete information sharing. The optimal pricing under the linear strategic equilibrium has been obtained which maximizes the utilities of both sides of electricity transaction. The transaction volume is determined from the formulated convex problem that maximizes the social welfare. Then, the pricing game is implemented by the dedicated smart contract. Blockchain guarantees its trustworthiness, security, and reliability. Finally, the experimental results show that referring to the benchmark of static game with complete information, the proposed Bayesian game with incomplete information can achieve approximate satisfaction of users. The degree of approximation can reach to 98% when the pricing ranges of buyers and sellers are close. Moreover, the proposed scheme has great advantages over the static game with complete information in terms of communication overhead and timeliness in the decentralized IoVs.

Teaching Contract Drafting through CaselawwA Syllabus and A Collection of My Musings about Contract Drafting Based upon Recent Cases

Law Schools are under ever­-increasing criticism for their failure to teach lawyers to actually practice law—particularly on the transactional side of the practice. That criticism is basically a criticism of the caselaw method of teaching law school subjects—a method that relies upon the reading of appellate decisions providing lessons in common law doctrine that are applied to a particular set of facts. While there are plenty of things to criticize in the current law school curriculum, the fundamental benefits of the caselaw method is actually not one of them—even for those who seek to become transactional lawyers rather than litigators. Indeed, to attempt to teach the how of contract drafting without a proper grounding in the why of contract drafting would be a waste of time. Certainly more practice skills courses taught by those that have actually practiced for a significant period of time would be a good thing—but not at the expense of the basic curriculum taught by the old­ fashioned, but effective, caselaw method. Instead, what is needed is a recognition of the value of the caselaw method in actually teaching transactional practice skills as well as common law doctrine, the mastery of which is essential to becoming a good transactional lawyer. What follows, then, is a Syllabus created by the author for a contract drafting course that seeks to balance the teaching of practice skills with the importance of a solid grounding in relevant caselaw; together with a collection of blog postings by the author regarding various contract provisions in the M&A arena should evolve (but not always have evolved) in response to developments in the caselaw. The blog postings are all available at privateequity.weil.com glenn­west­musings. Many of the cases listed in the Syllabus are the subject of one of the blog postings that highlights the specific drafting issue and the common law doctrinal issue involved. This should be considered a supplement to my Contract Drafting 101: A Checklist Derived From Recent Case Law, http://ssrn.com/abstract=2805481.

The transformation of scientific journal publishing: Open access after the Berlin 12 Conference

In the last 10–15 years, Open Access has become a shared vision of many if not most of the world’s national and international research councils. Open Access as a principle is very well established in the international discourse on research policies; however, Open Access as a practice has yet to transform the traditional subscription-based publishing system, which is as vigorous and prosperous as ever, despite its inherent restrictions on access and usage and its remarkable detachment from the potentials of a 21st century web-based publishing system. OA2020 is a transformative initiative trying to bring a new approach to the transactional side of the publishing system and the ways in which its cash flow is organized. Publishing and financial data are brought together in a way to demonstrate that such a switch would indeed be feasible. OA2020 lays out the path for how this transformation could happen so that Open Access to research results would finally be a reality from the moment of their publication.

Android and Antitrust: Attempts at a 'More Technological Approach'

Scholars in the tradition of industrial economics have developed a comprehensive theory of multi-sided markets that is increasingly influential also in competition policy circles. This type of economic analysis is potentially significant in cases where the fundamental defining characteristic of multi-sided businesses, namely the fact that they supply multiple customer groups whose demands are interdependent, is critical for the assessment of competition effects. A good example of this already influential approach, and of what it could imply for competition policy, is provided by recent discussions with regard to possible allegations of anticompetitive practices by Google in connection with Android, the Internet search giant's successful software platform for mobile devices. Some aspects of Android’s governance system have attracted the interest of competition policy enforcers. Grounded in the logic of indirect network effects, the economics of two sided markets is capable of providing a comprehensive and enticingly manageable framework for the analysis of many of Android's practices under increased antitrust scrutiny. In particular, the economics of two-sided markets suggests that alleged anticompetitive practices by platform owners like Google should be better presumed to be procompetitive efforts to harness externalities for the platform. It is still open for debate, however, whether the economic theory of multisided markets provides the type of economic analysis which looks most promising in dealing with allegations of anticompetitive conduct by multi-sided businesses in high-tech industries. In fact, the economics of two sided market understates the technological nature of platforms (all platform participants are considered consumers), and focuses mainly on the transactional side (chicken and egg problem). It follows that the same economic insights are conveniently applied both to heterosexual dating clubs and to software platforms. Hence, the mechanics of technological platforms, and the reasons behind some practices by platform owners, are only partially elucidated. One way of improving the current understanding of software platforms for the purpose of competition enforcement in high-tech markets is by bringing together the transactional and the technological views of platforms.

Money Does Not Grow on Trees: An Argument for Usury

Usury, charging a higher interest rate than thought by some to be “fair,” has had and still has, a bad press. Historically, it was heavily punished. It was then, and all too often is now, thought to be exploitative. Yet, as even the most economically unsophisticated must realize, both sides of these transactions must necessarily gain at least in the ex ante sense, otherwise one or the other would refuse to enter into the deal in the first place. The present paper is an attempt to justify the practice of charging interest on loans, at any rate agreeable to both borrowers and lenders.

Bankruptcy and Firm Dynamics: The Case of the Missing Firms

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient bankruptcy procedures can have quantitatively important aggregate effects, but more importantly; b) that such effects would not be directly visible in the firms that industrial censuses and surveys focus on. I conclude that to capture the effects of the legal framework we need to look beyond the existing firms.

Bankruptcy and Firm Dynamics: The Case of the Missing Firms

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient bankruptcy procedures can have quantitatively important aggregate effects, but more importantly; b) that such effects would not be directly visible in the firms that industrial censuses and surveys focus on. I conclude that to capture the effects of the legal framework we need to look beyond the existing firms.

Managing Electronic Records

Does Google offer a legitimate alternative to MEDLINE's structured, indexed records? What is the optimal metadata set for digital library records? Where secure patient access to the medical record is available, how can the display of content best facilitate consumer health objectives? In these and many other ways, the concept of the electronic record permeates the world of the twenty-first century medical librarian. This book, written and edited primarily from the archivist's point of view, provides succinct but comprehensive coverage of many record-related issues, including standards, technologies, preservation systems, research, and professional training, as well as both private and public sector case studies. With authors and examples from Canada, Australia, the United Kingdom, France, the Netherlands, the United States, and China, it provides a wide and potentially instructive international perspective. The salient question for this reviewer is, “What can those of us who sit squarely on the library side of the information world learn from our colleagues on the archives side?” The book begins promisingly enough with John McDonald's chapter on the “wild frontier” of the electronic office environment, which persists today despite the hopeful expectations he remembers expressing over a decade ago. What he describes is a universal milieu instantly recognizable not just to information professionals but to anyone in the white collar world, with electronic document and records management systems that too frequently become dumping grounds for email messages, attachments, and miscellaneous documents. In making a case for change, he notes that sophisticated and computer-literate younger users have higher expectations. These include direct access to records kept by government and other institutions and an interest in relationship building. For readers who provide information resources or services in the age of electronic journals and the blog, these requirements easily evoke the impact that ubiquitous Internet access and Web 2.0 are having on the library. From the beginning, the editors develop several main themes, a couple of which are general enough to pass for conventional wisdom: the importance of continuing education and of investing in knowledge and skills as well as in technology and the crucial role that support from high-level management plays in ensuring the success of large projects that affect the organization as a whole. Other themes may or may not resonate with librarians, depending on length of their professional memory and the nature of their work. With catalog conversion largely a fait accompli, the legitimacy of the electronic record per se as an authentic functional entity, and not just as a surrogate for a paper record, is now so far from being an issue as to be axiomatic. While systems librarians and those responsible for more purely transactional functions such as circulation, collection development, and document delivery may readily grasp the idea of using the organization's records to meet business requirements, the book's fundamental focus on knowledge management for the organization is largely irrelevant to reference librarians, to whom bibliographic records are the most important ones. As far as a reference librarian is concerned, for example, the power of metadata is in its potential to facilitate resource discovery and improve information retrieval, not to manage records and accomplish business objectives. Catalogers, who are record managers but not necessarily organizational knowledge managers, may find fewer relevant chapters than colleagues on the transactional side, but more than reference librarians. Some of the material is of general interest to information professionals. A chapter on research trends chronicles the shift in the last twenty years from managing records as electronic entities to managing their content. Anyone whose personal files include documents created with obscure or out-of-date software will appreciate the chapter on digital preservation, which articulates the requirements for a persistent systems architecture that protects data integrity through migration of data from one software format to the next. An esoteric postmodern cultural analysis of record creation and management in pre- and post-apartheid South Africa in a chapter on ethics and electronic record making finds disappointingly little difference between the two eras. It does, however, manage to remind the reader that those who make and tend records wield a tremendous club: the power to shape the truth. So should librarians expect to learn a lot about electronic records from this book? It depends. But in a final chapter, the editors wrap things up with a rousing charge relevant to all parts of the information world: The solutions we have may be imperfect and may not be for the long term, but we still have to plunge in and “be comfortable with change and uncertainty.”

Internet banking market performance: Turkey versus the UK

PurposeThe purpose of this paper is to compare and evaluate the internet banking services of Turkey and the UK.Design/methodology/approachThe paper is based on an exploratory research for a sample of nine banks from each country, a web survey is conducted to collect data for each internet bank using an analytical framework based on a three dimensional model.FindingsIt is found that Turkish banks offer a wider range of services from their internet branches compared to British banks, despite the fact that the UK has a more favourable environment for internet banking in terms of the level of sophistication of its banking sector and technological infrastructure. Furthermore, a key difference is observed in the approaches of banks towards the issue of “security”.Research limitations/implicationsThe findings of this paper are reached by the use of a simplified model that only focuses on the transaction side of internet banking. Therefore, further research could encompass other aspects from the provider's perspective of the internet banking environment within a refined model.Practical implicationsThe paper suggests that there is a fundamental difference in the banks' approaches to dealing with security problems and insights can be gained from cross‐country peer group analysis. Furthermore, the study assists researchers and practitioners to evaluate and build upon their e‐business provision.Originality/valueThe paper is the first of its kind, that the authors are aware of, to conduct a cross‐country analysis of internet banking services.

The Collusion Problem in Agency Law

The law of agency is one of the basic building blocks of business. Agents facilitate transactions between firms and structure governance relations within firms. Agency law regulates both types of activity. Yet agency law's main focus has always been on the transactional side. The key feature of transactional--traditional--agency law is the tripartitite relationship among the principal, agent, and third party. Law and economics scholars, however, have mostly focused on the role of agency within organizations. More traditional business law scholars have also paid little attention to agency law in recent years. This paper develops an economic theory of transactional agency law. I argue that what makes the three-party structure of agency law different from two-party structures is the potential for collusive behavior between any two of the three parties against the other. My thesis is that transactional agency law can largely be understood as attempting to facilitate transactions by deterring collusion between principals and agents, between agents and third parties, and between principals and third parties. Agency law does this by providing guidelines for determining when collusion of various types should be presumed. I develop a theory of collusive behavior and then apply this theory to various doctrines in agency law that have long troubled scholars and courts, including contractual authority, undisclosed principal, and ratification. Throughout, I compare the collusion theory with an alternative economic theory that explains agency rules under the least cost avoider principle.

Structures for Organisation of Transactions in Japanese Agriculture

This paper presents the results of a 1995 research project aiming at incorporating the transacting costs minimising principle to the Japanese agrarian economy and showing that the Japanese agrarian economy is a transaction costs economy. Japanese agriculture gives unique examples for institutional development and big varieties of modes for governing transactions. Transacting costs economising approach helped us to understand why there are so many kinds of farms in Japan and part time farming phenomenon; why some farmers buy inputs and other produce them; when farmers buy equipment and when they pay for machinery service supply; what is a reason for permanent labor contracts and why temporary labor has been important in some productions; why some farmers sell products and-other process them; when there are independent family operations and when contract system or totally integrated business prevail; why group farming exists and the role of informal contracts in the Japanese society; why part time farmers rely on cooperatives for input supply and marketing while full time farmers look for market transacting; why common organisations and community institutions have been so important in rice production; why lease would be the most likely way for development of agriculture; why agricultural cooperatives exist and what should be right direction for their reorganisation; why such institutions as quality standards and wholesale markets have been developed by the Government; why technological innovations are free for farmers and what should be future role of agrarian research potential; what are prospects for development of national agrarian transactions and what should the Government role be. Three kinds of data representing different sides of agrarian transactions and types of their organisation has been used. First, available statistical and Census data for land and labor transactions, for contract service transactions, and marketing transactions in Yachio machi - a typical town in Kanto region of Japan. Second, data from the Land Committee on registered land ownership and land transactions in Nakatsubo hamlet - a typical village in Yachio machi. Third, data about critical dimensions of agrarian transactions and kinds of their organisations from personal interviews with number of farmers, Municipality officials, managers of the Cooperative and other farm and agri-business organisations, leaders of the farm group, Hamlet leader, Director of Extension Office in all major regions of Japan - from Hokkaido to Kyushu.