Arrow (1969, p.48) defines these specific costs in a very general way and found that transaction costs are “costs of running the economic system,” whereas Williamson (1989, p.142) considers them as the costs of “planning, adapting, and monitoring task completion under alternative governance structures.” This latter explanation is the basis for the development of the cost model and will be referred to later on when two
transactions are compared which are accomplished in various ways. Read the rest of this entry »
There are many possible approaches to investigate different aspects of information and communication technology and electronic commerce. This chapter chooses the perspective of New Institutional Economics, more precisely the Transaction Cost Approach, which has been developed since the 1950s because of certain deficits in the Neoclassical Theory. The criticism leveled is that the use of a market or of the legal system is neither free nor without frictions (Williamson, 1990). On the contrary, institutions have to be taken into account and transaction costs arise. Read the rest of this entry »
Electronic commerce can generally take place between two businesses, between a business and an administration, or between a business and a consumer. In the following, only the relationship between a business and its customers will be investigated. The object of the analysis is the financial sector. Read the rest of this entry »
The need to explain the most important terms and definitions in this context arises directly from the topic chosen. Choi/Stahl/Winston (1997) define electronic commerce as “a new market offering a new type of commodity, such as digital products through digital processes.” This specification already indicates the potential scope and the enormous consequences which result from the use of electronic commerce. Read the rest of this entry »
Credit card is pretty common in our life. It is alternative tool of payment beside cash which is accepted by many stores including online stores. With credit card you will not have to bring cash everywhere and you can simply use it to do payment transactions. The great number of credit card user is the reason why there are many kinds of credit cards available right now. You can have hard time to find suitable credit card for you because each of them only shows its advantages than its weaknesses. But everyone already knows the risk of using credit card especially if we do not pay it on time. Credit Card makes us to have debt to the bank and there is interest that we must pay if we do not make it on time with the payment. Read the rest of this entry »
The authors analyse the impact of the increasing utilization of information and communication technology (ICT) and electronic commerce on the coordination of specific transactions in financial services. In particular, two business processes commonly occurring in the contractual relationship between a financial institution and its customers will be considered: bank transfers and stock purchases. The chapter focuses explicitly on the relationship between a bank and its customers which, in contrast to internal and
inter-bank processes that have already been subject of intensive research, has been neglected so far. Read the rest of this entry »
Reduction of Transaction Costs by Using Electronic Commerce in Financial Services: An Institutional and
Empirical Approach
Abstract
This chapter introduces the Transaction Cost Approach as a means of analyzing specific transactions in Read the rest of this entry »
This is one example of an inappropriate question: “Have you ever been arrested?”
Although no specific federal laws prohibit inquiries about arrest records, several states have enacted legislation that would make this kind of question unlawful. Questions concerning a candidate’s arrest record have been held to have an adverse discriminatory impact upon certain
segments of the population. Under the disparate impact theory, questions about a candidate’s arrest record could become the basis of a lawsuit for discrimination under Title VII of the Civil Rights Act of 1964.
While asking about the arrest record of a candidate for employment is risky business, employers may usually ask whether a candidate has ever been convicted of a crime. But be sure to check with your organization’s attorney to determine whether the laws of your state may prohibit inquiries about an individual’s conviction record, or whether state law limits the period of inquiry to a fixed number of months or years from the date of application.
Taken From: 10 Minute Guide to Conducting a Job Interview
There are many file extensions that we need to know. Sometimes, we cannot process some data or do our work because we have no idea how to deal with some files which have strange file extensions, such as File Extension DOCX. We never meet that file extensions before and the windows system cannot help us too. If you facing this moment, you better not take risk action such as try to open it with some software or windows support system that you don’t know. Read the rest of this entry »
Many people like to play Golf. Usually people who like golf are some business men, senior people and people who want to play high-class sport. Well, if you like golf, I believe you always looking some new place to try your golf ability. It will be very nice to meet old friends or talking about your new business with some people who have same interest on a golf field. Well, if you interested, you can go to golfakademie-gmbh.de. In this site you can get information about some golf travels. You can enjoy the travels and play golf in some famous golf fields. Read the rest of this entry »