The cost of carbon : capital market effects of the proposed emission trading scheme (ETS)

In March 2008, the Australian Government announced its intention to introduce a national Emissions Trading Scheme (ETS), now expected to start in 2015. This impending development provides an ideal setting to investigate the impact an ETS in Australia will have on the market valuation of Australian Securities Exchange (ASX) firms. This is the first empirical study into the pricing effects of the ETS in Australia. Primarily, we hypothesize that firm value will be negatively related to a firm's carbon intensity profile. That is, there will be a greater impact on firm value for high carbon emitters in the period prior (2007) to the introduction of the ETS, whether for reasons relating to the existence of unbooked liabilities associated with future compliance and/or abatement costs, or for reasons relating to reduced future earnings. Using a sample of 58 Australian listed firms (constrained by the current availability of emissions data) which comprise larger, more profitable and less risky listed Australian firms, we first undertake an event study focusing on five distinct information events argued to impact the probability of the proposed ETS being enacted. Here, we find direct evidence that the capital market is indeed pricing the proposed ETS. Second, using a modified version of the Ohlson (1995) valuation model, we undertake a valuation analysis designed not only to complement the event study results, but more importantly to provide insights into the capital market's assessment of the magnitude of the economic impact of the proposed ETS as reflected in market capitalization. Here, our results show that the market assesses the most carbon intensive sample firms a market value decrement relative to other sample firms of between 7% and 10% of market capitalization. Further, based on the carbon emission profile of the sample firms we imply a ‘future carbon permit price’ of between AUD$17 per tonne and AUD$26 per tonne of carbon dioxide emitted. This study is more precise than industry reports, which set a carbon price of between AUD$15 to AUD$74 per tonne.

The role of human factors when evaluating information accountability for eHealth systems

The availability of health information is rapidly increasing; its expansion and proliferation is inevitable. At the same time, breeding of health information silos is an unstoppable and relentless exercise. Information security and privacy concerns are therefore major barriers in the eHealth socio-eco system. We proposed Information Accountability as a measurable human factor that should eliminate and mitigate security concerns. Information accountability measures would be practicable and feasible if legislative requirements are also embedded. In this context, information accountability constitutes a key component for the development of effective information technology requirements for health information system. Our conceptual approach to measuring human factors related to information accountability in eHealth is presented in this paper with some limitations.

State of multilevel research perspective in the information systems discipline

Existing distinctions among macro and micro approaches have been jeopardising the advances of Information Systems (IS) research. Both approaches have been criticized for explaining one level while neglecting the other; thereby, the current situation necessitates the application of multilevel research for revealing the deficiencies. Instead of studying single level (macro or micro), multilevel research entails more than one level of conceptualization and analysis, simultaneously. As the notion of multilevel is borrowed from reference disciplines, there tends to be confusions and inconsistencies within the IS discipline, which hinders the adoption of multilevel research. This paper speaks for the potential value of multilevel research, by investigating the current application status of multilevel research within the IS domain. A content analysis of multilevel research articles from major IS conferences and journals is presented. Analysis results suggest that IS scholars have applied multilevel research to produce high quality work ranging from a variety of topics. However, researchers have not yet been consistently defining “multilevel”, leading to idiosyncratic meanings of multilevel research, most often, in authors’ own interpretations. We argue that a rigorous definition of “multilevel research” needs to be explicated for consistencies in research community.

Qualitative methods in information systems research

Qualitative research methods are widely accepted in Information Systems and multiple approaches have been successfully used in IS qualitative studies over the years. These approaches include narrative analysis, discourse analysis, grounded theory, case study, ethnography and phenomenological analysis. Guided by critical, interpretive and positivist epistemologies (Myers 1997), qualitative methods are continuously growing in importance in our research community. In this special issue, we adopt Van Maanen's (1979: 520) definition of qualitative research as an umbrella term to cover an “array of interpretive techniques that can describe, decode, translate, and otherwise come to terms with the meaning, not the frequency, of certain more or less naturally occurring phenomena in the social world”. In the call for papers, we stated that the aim of the special issue was to provide a forum within which we can present and debate the significant number of issues, results and questions arising from the pluralistic approach to qualitative research in Information Systems. We recognise both the potential and the challenges that qualitative approaches offers for accessing the different layers and dimensions of a complex and constructed social reality (Orlikowski, 1993). The special issue is also a response to the need to showcase the current state of the art in IS qualitative research and highlight advances and issues encountered in the process of continuous learning that includes questions about its ontology, epistemological tenets, theoretical contributions and practical applications.

Implementing green business processes : the importance of functional affordances of information systems

An environmentally sustainable and thus green business process is one that delivers organizational value whilst also exerting a minimal impact on the natural environment. Recent works from the field of Information Systems (IS) have argued that information systems can contribute to the design and implementation of sustainable business processes. While prior research has investigated how information systems can be used in order to support sustainable business practices, there is still a void as to the actual changes that business processes have to undergo in order to become environmentally sustainable, and the specific role that information systems play in enabling this change. In this paper, we provide a conceptualization of environmentally sustainable business processes, and discuss the role of functional affordances of information systems in enabling both incremental and radical changes in order to make processes environmentally sustainable. Our conceptualization is based on (a) a fundamental definition of the concept of environmental sustainability, grounded in two basic components:the environmental source and sink functions of any project or activity, and (b) the concept of functional affordances, which describe the potential uses originating in the material properties of information systems in relation to their use context. In order to illustrate the application of our framework and provide a first evaluation, we analyse two examples from prior research where information systems impacted on the sustainability of business processes.

On the impact of the "linguistic turn" on research in information systems

The linguistic turn within philosophy has recently gained increased attention within social sciences. It can be seen as an attempt to investigate traditional philosophical problems by analysing the linguistic expressions used for these investigations. More generally, the phenomenon of language itself must be considered because of its (constitutional) impact on the investigation of phenomena in social sciences. In order to understand the consequences of the linguistic turn, its origins in philosophy are important and will be discussed. Within social sciences the linguistic turn already had significant impact. As an example, we will therefore discuss what directions the linguistic turn enabled for organizational analysis. Information Systems as a discipline must face the consequences of the linguistic turn as well. We will discuss how the linguistic framework introduced impacts the development of knowledge management and that of managerial and organizational support systems. This example shows what different perspectives the linguistic turn can provide for investigations within Information Systems. In addition, we will briefly outline the impact of the linguistic turn with respect to methodologies in Information Systems research.

Exploring shared services from an IS perspective : a literature review and research agenda

Shared services have gained significance as an organizational arrangement, in particular for support functions, to reduce costs, increase quality and create new capabilities. The Information Systems (IS) function is amenable to sharing arrangements and information systems can enable sharing in other functional areas. However, despite being a promising area for IS research, literature on shared services in the IS discipline is scarce and scattered. There is still little consensus on what shared services is. Moreover, a thorough understanding of why shared services are adopted, who are involved, and how things are shared is lacking. In this article, we set out to progress IS research on shared services by establishing a common ground for future research and proposing a research agenda to shape the field based on an analysis of the IS literature. We present a holistic and inclusive definition, discuss the primacy of economic-strategic objectives so far, and introduce conceptual frameworks for stakeholders and the notion of sharing. We also provide an overview of the theories and research methods applied. We propose a research agenda that addresses fundamental issues related to objectives, stakeholders, and the notion of sharing to lay the foundation for taking IS research on shared services forward.

Human-centric process-aware information systems (HC-PAIS)

Process-Aware Information Systems (PAIS) support organizations in managing and automating their processes. A full automation of processes is in particular industries, such as service-oriented markets, not practicable. The integration of humans in PAIS is necessary to manage and perform processes that require human capabilities, judg- ments and decisions. A challenge of interdisciplinary PAIS research is to provide concepts and solutions that support human integration in PAIS and human orientation of PAIS in a way that provably increase the PAIS users' satisfaction and motivation with working with the Human-Centric Process Aware Information System (HC-PAIS) and consequently in uence users' performance of tasks. This work is an initial step of research that aims at providing a definition of Human-Centric Process Aware Information Systems (HC-PAIS) and future research challenges of HC-PAIS. Results of focus group research are presented.

Complexity of increasing the secure connectivity in wireless ad hoc networks

We consider the problem of maximizing the secure connectivity in wireless ad hoc networks, and analyze complexity of the post-deployment key establishment process constrained by physical layer properties such as connectivity, energy consumption and interference. Two approaches, based on graph augmentation problems with nonlinear edge costs, are formulated. The first one is based on establishing a secret key using only the links that are already secured by shared keys. This problem is in NP-hard and does not accept polynomial time approximation scheme PTAS since minimum cutsets to be augmented do not admit constant costs. The second one extends the first problem by increasing the power level between a pair of nodes that has a secret key to enable them physically connect. This problem can be formulated as the optimal key establishment problem with interference constraints with bi-objectives: (i) maximizing the concurrent key establishment flow, (ii) minimizing the cost. We prove that both problems are NP-hard and MAX-SNP with a reduction to MAX3SAT problem.

Personalised information gathering and recommender systems : techniques and trends

With the explosive growth of resources available through the Internet, information mismatching and overload have become a severe concern to users. Web users are commonly overwhelmed by huge volume of information and are faced with the challenge of finding the most relevant and reliable information in a timely manner. Personalised information gathering and recommender systems represent state-of-the-art tools for efficient selection of the most relevant and reliable information resources, and the interest in such systems has increased dramatically over the last few years. However, web personalization has not yet been well-exploited; difficulties arise while selecting resources through recommender systems from a technological and social perspective. Aiming to promote high quality research in order to overcome these challenges, this paper provides a comprehensive survey on the recent work and achievements in the areas of personalised web information gathering and recommender systems. The report covers concept-based techniques exploited in personalised information gathering and recommender systems.

Attitudes, Ideologies and Self-Organisation : Information Load Minimisation in Multi-Agent Decision Making

Sophisticated models of human social behaviour are fast becoming highly desirable in an increasingly complex and interrelated world. Here, we propose that rather than taking established theories from the physical sciences and naively mapping them into the social world, the advanced concepts and theories of social psychology should be taken as a starting point, and used to develop a new modelling methodology. In order to illustrate how such an approach might be carried out, we attempt to model the low elaboration attitude changes of a society of agents in an evolving social context. We propose a geometric model of an agent in context, where individual agent attitudes are seen to self-organise to form ideologies, which then serve to guide further agent-based attitude changes. A computational implementation of the model is shown to exhibit a number of interesting phenomena, including a tendency for a measure of the entropy in the system to decrease, and a potential for externally guiding a population of agents towards a new desired ideology.

Specifying information systems for business process integration : a management perspective

Supply chain management and customer relationship management are concepts for optimizing the provision of goods to customers. Information sharing and information estimation are key tools used to implement these two concepts. The reduction of delivery times and stock levels can be seen as the main managerial objectives of an integrative supply chain and customer relationship management. To achieve this objective, business processes need to be integrated along the entire supply chain including the end consumer. Information systems form the backbone of any business process integration. The relevant information system architectures are generally well-understood, but the conceptual specification of information systems for business process integration from a management perspective, remains an open methodological problem. To address this problem, we will show how customer relationship management and supply chain management information can be integrated at the conceptual level in order to provide supply chain managers with relevant information. We will further outline how the conceptual management perspective of business process integration can be supported by deriving specifications for enabling information system from business objectives.

Using management objectives to specify management information systems : a contribution to MIS success

Data warehouse projects, today, are in an ambivalent situation. On the one hand, data warehouses are critical for a company’s success and various methodological and technological tools are sophisticatedly developed to implement them. On the other hand, a significant amount of data warehouse projects fails due to non-technical reasons such as insufficient management support or in-corporative employees. But management support and user participation can be increased dramatically with specification methods that are understandable to these user groups. This paper aims at overcoming possible non-technical failure reasons by introducing a user-adequate specification approach within the field of management information systems.

The influence of human rights on land rights and spatial information

This paper reviews the growing influence of human rights issues on land rights, administration, management and tenure. In the last few decades, attention focussed on integrating economic and environmental considerations to achieve sustainable land use. The World Trade Organisation began in 1995. As a condition of membership, nations undertook legislative programmes aimed at reducing price distortions and barriers to international trade. Reducing trade barriers has direct effects on agricultural production as a major land use. Similarly, as signatories to the 1992 Rio Declaration, nations undertook caring for and reporting on the state of the environment. However, quality of life is also an issue in deciding what is sustainable development. The Universal Declaration of Human Rights, proclaimed in 1948, provided a framework for a series of international human rights conventions. These conventions now influence national legislative programmes. The purpose of this paper is to review some of the implications of human rights on rights in land and the production and use of spatial information.

The effect of project information on the accuracy of building price forecasts

A fundamental proposition is that the accuracy of the designer's tender price forecasts is positively correlated with the amount of information available for that project. The paper describes an empirical study of the effects of the quantity of information available on practicing Quantity Surveyors' forecasting accuracy. The methodology involved the surveyors repeatedly revising tender price forecasts on receipt of chunks of project information. Each of twelve surveyors undertook two projects and selected information chunks from a total of sixteen information types. The analysis indicated marked differences in accuracy between different project types and experts/non-experts. The expert surveyors' forecasts were not found to be significantly improved by information other than that of basic building type and size, even after eliminating project type effects. The expert surveyors' forecasts based on the knowledge of building type and size alone were, however, found to be of similar accuracy to that of average practitioners pricing full bills of quantities.