Electronic markets and service delivery: requisite competencies for virtual environments

Electronic markets have a short but dynamic history. How an electronic market can be successfully developed remains in dispute. There is a clear need to better understand the nature of electronic markets themselves and, in particular, to review important developments in their conceptualisation. To enable a deeper understanding of these issues, we decided to restrict our investigation to electronic markets in the agricultural export sector. Agribusiness is a natural early adopter of digital marketplaces because of the industry’s traditional reliance on markets and current take-up of global supply chain management (Wilkins, Swatman and Castleman, 2002). We review two portals from this sector that aimed to simplify access to regulatory documentation. The earlier implementation had its funding withdrawn after one year, whilst the more recently established portal is rapidly becoming a showcase project for the stakeholders. We use a composite theory based on Bijker (1995) and Nowotny et al (2001) to establish a framework for analysing our data. We also refer to a body of literature characterising intangible services and their design and its implications for emarket implementations. Our findings indicate that governance style is in fact closely related to the success or failure of specific sites. We also found support for earlier research indicating that expectations and understanding of electronic markets are still evolving.

B2B electronic markets: a conceptual model for analyzing the sources of business value

This paper describes research supporting the development of a conceptual model for understanding the sources of business value of Business-to-Business (B2B) Electronic Markets. Based on six case studies and an analysis of current literature, Aggregation, Matching, and Integration emerged as the three key sources of business value. The framework provides a structured and systematic approach for understanding various B2B Electronic Market models, and helps develop strategies to leverage these sources of business value.

Career progression, human capital and pay equity in Australian public sector labour markets

This study uses data from the Victorian Public Sector Census 2004 to identify the extent of equity in pay and career progression (promotion). A system of three equations is developed to capture the endogeneity between human capital and promotion and the interdependence between promotion, pay and human capital. The results indicate that there are substantial differences in the average wages earned by public sector employees in different Equal Employment Opportunity (EEO) groups. While some of these differences arise from factors beyond the control of the public sector employers, others arise from bias in the public sector employment system and procedures. The earnings of individual employees in the public sector are determined in a systematic way by the wage structures in the different sub-sectors, the skill base of the employee on recruitment, sub-sector specific promotion rates, acquisition of formal and informal training and the apparent bias within recruitment and promotion systems in dealing with particular groups. The apparent bias of recruitment and promotion systems is complex in makeup and varies within EEO groups as well as between EEO groups. Most of the difference in pay across employees can be explained as an outcome of individual choice and labour market conditions external to the public sector. After adjusting for sectoral wage differences, skill base when recruited, sectoral promotion rate differences, experience in the public sector, whether individuals are employed on a full-time or part-time basis and individual training decisions, the statistical evidence is consistent with the finding that public sector recruitment and promotion systems tends to be biased, on average, against females and those from culturally diverse backgrounds. Achievements in formal education are important for salary progression. This is particularly the case for women. The main drivers of participation in formal education were employer support in both financial and non-financial terms. Promotion rates were important factors in explaining wage differences. Women tended to receive slightly fewer promotions than men, but women received, on average, greater rewards for each promotion.

Strategies for B2B electronic markets : delivering business value to buyers and sellers

This paper discusses the key elements of effective and successful strategies for organisations engaging in Business-to-Business (B2B) Electronic Markets. Existing literature have concentrated on developing schemas for categorising B2B Electronic Markets, and evaluating the innovative business models they employ, with less focus on understanding the business value of B2B Electronic Markets from a multi-stakeholder, business strategy perspective. In the present business climate, business managers and executives are keen to discover strategies to maximise performance improvements associated with ICT adoption. Based on case studies of B2B Electronic Markets, this paper discusses the importance of (i) creating and distributing business value among the various stakeholders, (ii) determining a pragmatic approach for engaging in B2B Electronic Markets, and (iii) managing the transformation of business processes associated with B2B Electronic Markets. The study contributes to practice and research by presenting rich empirical insights into the operations ofB2B Electronic Markets, and providing suggestions for future research in the topic area.

What about foresight literacy? Equipping students to engage in unknown futures

In education, there is much rhetoric about a school's capacity to prepare learners for 'the future'. For example, there have been 'Schools of the future', 'Lighthouse schools of the future' and many claims from schools around the world that their roles encompass 'educating students for the future' and developing 'citizens of the future'. However, as 'futures educators', the questions must be asked: 'whose future?' and 'what future?'. Considering texts which promote this educational premise require tools and philosophical understandings, in order to deconstruct and articulate the future for which we prepare our young. This paper describes the way in which foresight literacy can be developed through engagement with explicit futures education tools and concepts. It highlights a number of futures texts indiscriminately presented within culture and society, and exposes some of the ways in which foresight (futures) understandings can be achieved. This reading, writing and articulation of a multiplicity of futures is referred to as foresight literacy. This paper does not address the 'future of literacy', but rather the way in which futures education equips students to engage with texts assuming, and describing a future.

Doing futures: futures education and enactivism

In New Times (Hall, 1996), there has been much rhetoric about school’s role in equipping students for the future. Futures education, or futures pedagogy, provides an interdisciplinary approach in which alternative futures may be explored, designed and articulated. Enactivism, as a theory of learning, affirms my contention that it is not enough to talk about the future. Rather, I propose that education must act as an agent of change, in equipping teachers and students alike, to imagine, critique and create possible, preferable and probable futures. This paper, then, explores the co-emergence (Manturana & Varela, 1992) of an explicit futures dimension, and teaching and learning drawing upon case studies of practice in schools.

Futures now - teaching futures education

In the post-modern world, it has been said that there is now greater uncertainty in life than in any previous period, simply because so much has changed as a result of the speed of technological change.

From the educational view point, Futures education is a necessity as times continue to change, in regards to both the sustainability of the person and that of the environment. It is true that uncertainty will always remain an aspect of thinking about the future, however in order to make what is ahead more accessible to everyone, educators have a duty of care to their students to facilitate or educate in regards to tools, concepts and understandings which will help students to become world shapers, and shapers of their own personal futures. This must occur as part of ongoing educator training.

Regulatory change, structural breaks, and transmission effects in HSIF and HSI volatility

A systematic BEKK-GARCH model with multiple switch points in the variance equations captures the structural changes that have taken place in the Hong Kong markets. Abolishment of the uptick rule in the Hong Kong stock market, increase of initial margins, and electronic trading of Hang Seng Index Futures are found to have significant impacts. These changes affect the volatility structure of the HSI and HSIF and hence their lead-lag relationship. The multivariate GARCH model with three specific switching points is found to be superior to any other combination of up to six separate switch points.

Speed of adjustment within currency markets

One measure of market efficiency is the speed at which prices adjust to fundamental value with the arrival of information. This paper examines this issue by estimating speed of adjustment coefficients using three  methodologies for eight currencies for the entire year of 1996 using half hourly non-overlapping return intervals. We find that the bulk of adjustment to fundamental value for all currencies occurs within the hour but then quickly deteriorates. Within the hour adjustment is sufficiently quick to be considered efficient but the lack of full adjustment to fundamental value is not what would be predicted within an efficient market. There is no evidence for any of the currencies studied of a tendency to over react. There is also little difference in the speeds of adjustment between actively and less actively traded  currencies. There is however a definite difference in the speed at which currencies adjustment depending on whether they are free floating or managed exchange rates. Free floating rates adjust much quicker. Government intervention slows adjustment to fundamental value.

Testing convergence of Fiji's tourism markets

The convergence hypothesis for tourism markets is based on the tenet that when tourism markets are converging the difference between total international visitor arrivals to a country and international visitor arrivals from a particular country will be stationary. We argue that if this is true, then convergence can also be tested through examining whether total visitor arrivals and visitor arrivals from a particular market are cointegrated. We test the convergence hypothesis by examining visitor arrivals to Fiji from eight tourist source markets, using both unit root and cointegration tests. We find strong statistical evidence that Fiji's tourism markets converge.