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Physical Sciences and Mathematics Commons

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E-Commerce

Singapore Management University

Financial economics

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Full-Text Articles in Physical Sciences and Mathematics

Technology Investment Decision-Making Under Uncertainty In Mobile Payment Systems, Robert J. Kauffman, Jun Liu, Dan Ma Jun 2014

Technology Investment Decision-Making Under Uncertainty In Mobile Payment Systems, Robert J. Kauffman, Jun Liu, Dan Ma

Research Collection School Of Computing and Information Systems

Innovations in the mobile payments industry provide potentially profitable investment opportunities for banks. Nonetheless, significant uncertainties are associated with decision-making for this IT investment context, regarding future market conditions, technology standards, and consumer and merchant responses, especially their willingness to adopt. As a result, traditional capital budgeting approach and experienced intuition have not been effective. We develop a model to support a bank’s mobile payment systems adoption decision-making at the firm level when it faces endogenous technological risks and exogenous market conditions. This study applies theory and modeling from financial economics for decision-making under uncertainty to investments in m-payment systems …


Are Online Auction Markets Efficient? An Empirical Study Of Market Liquidity And Abnormal Returns., Robert J. Kauffman, Trent J Spaulding, Charles A. Wood May 2009

Are Online Auction Markets Efficient? An Empirical Study Of Market Liquidity And Abnormal Returns., Robert J. Kauffman, Trent J Spaulding, Charles A. Wood

Research Collection School Of Computing and Information Systems

Technological advances have facilitated investment in collectibles through online auction markets, where information regarding product characteristics, current and historical prices, and product availability is available to millions of market participants. However, market inefficiencies may still exist, where prices do not reflect market information and where savvy speculators can profit. Using unit root and variance ratio tests, we examine 8538 rare stamp and 56,997 rare coin auctions to evaluate the efficiency of online markets. In particular, we study market liquidity, abnormal returns and weak-form efficiency. We find an inverse relationship between market efficiency and liquidity. Bidder competition intrinsic to liquidity increases …