417 research outputs found
Oil price instability, hedging, and an oil stabilization fund : the case of Venezuela
Full text linkThe Venezuelan government and PDVSA (Venezuela's state oil companies) are both exposed to oil price instability. Given the existing tax structure, PDVSA has a higher exposure than the government, especially when prices drop below $18-20 a barrel. The authors show that the volatility of prices for crude oil is higher (but not significant) than the volatility of prices for refined oil products. And both prices are highly correlated. So, there is not much strength to the argument that Venezuela, being now mainly an exporter of refined products, faces less volatility than when it was exporting mainly crude oil. The basis risk for hedging Venezuelan crude oil was founded to be higher than for other crudes of comparable quality in the region. One explanation could be the pricing policies Venezuela follows, which leads Venezuelan crude oil prices to deviate for long periods from international prices. The basis risk in Venezuelan refined products is much lower and at acceptable levels for risk management. The issue of liquidity is concentrated in contracts for periods of less than a year. For products, the liquidity is concentrated in the nearest 4-5 months. So, for short-term hedges (6-9 months ahead), there is sufficient liquidity for Venezuela to hedge a substantial part of its exports. For longer-term hedges, the over-the-counter market is the more appropriate vehicle. In either case, it will not usually be the case that all production or exports should be hedged. The authors also examined the issue of an oil stabilization fund. For an oil stabilization fund to be effective several preconditions must be met. Most notably: oil prices should not follow a random walk; financial markets are incomplete; and there are large adjustment costs. These conditions do likely apply in Venezuela. Venezuela's best strategy would be to remove as much short-term oil price risk as possible by using short-dated hedging instruments (such as futures, options, or short-dated swaps) and to also do some longer term hedging (using mainly over-the-counter options and long-dated swaps). They also find that an oil stabilization fund should be complemented by using market-based risk management tools. The oil stabilization fund could then be used to manage any remaining interperiod oil price risk to the extent considered necessary.Markets and Market Access,Environmental Economics&Policies,Oil Refining&Gas Industry,Energy and Environment,Energy Demand
Managing crises in the Healthcare Service Chain
No full textThis paper explores the strategic importance of information systems for managing such crises as the H1N1 outbreak and the Haiti earthquake in the healthcare service chain. The paper synthesizes the literature on crisis management and information systems for emergency response and draws some key lessons for healthcare service chains. The paper illustrates these lessons by using data from an empirical case study in the region of Crete in Greece. The author concludes by discussing some future directions in managing crises in the healthcare service chain, including the importance of distributive, adaptive crisis management through new technologies like mashups.</p
Digital Platforms Regulation: An Innovation-Centric View of the EU’s Digital Markets Act
No full textWe conceptualise innovation as new interactions being created by the digital platform, in contrast to coordination which facilitates existing interactions or market transactions.
We apply this framework to the DMA to assess two of the most contentious practices: self-preferencing and data-sharing.
We show that these practices differ hugely in the extent to which they replace existing interactions (little to negative innovation effect), sustain existing interactions (moderate, positive innovation effect), or trigger new interactions (large, positive innovation spillovers).
We thus derive that the business model agnostic approach to digital platforms taken in the DMA risks treating practices that increase the value created by an interaction equally to those that simply shift the distribution of value
Instantiation of Organisational Routines in Cross-Expertise Collaborative Enterprise Systems
No full textAbstract:
This study aims to explore the dynamics between the performative and ostensive aspects of organisational routines in the context of cross-expertise collaborative enterprise systems. Specifically, through an ongoing empirical case study of technology, media and communication businesses focusing on social and mobile systems, we will explore cross-expertise collaborative enterprise systems routines and how those influence, and are guided by the concept of gamification.
Cite this Paper:
Dacre, N., Constantinides, P., & Nandhakumar, J. (2014). Instantiation of Organisational Routines in Cross-Expertise Collaborative Enterprise Systems. International Symposium on Process Organization Studies, Rhodes, Greece
Data Control Coordination in the Formation of Ecosystems in Highly Regulated Sectors
Full text linkEcosystems in highly regulated sectors, such as banking, are orchestrated through institutional policies and technical standards that ensure the interoperability of cloud service infrastructures. Despite such interoperability, actors must still coordinate distributed data control to guarantee that data are treated under equal conditions. Drawing on a case study of the Italian banking sector between 2009 and 2020, we investigate the coordination efforts of ecosystem actors in distributing data control across organizational boundaries and jurisdictions. We show that, despite the availability of interoperability standards, the distribution of data control creates tensions that, on the one hand, hinder integration efforts and, on the other hand, allow disproportionate value capture, together contributing to ecosystem failures. We introduce a process model that details how contractual and procedural coordination mechanisms can mitigate these tensions and facilitate value co-creation. We conclude with a discussion of the contributions and implications of our findings for further research on data control coordination
The development and consequences of new information infrastructures : the case of mashup platforms
No full textThe advent of Web 2.0 has led to the development of new information infrastructures, where the logic of collective action is becoming more heterogeneous and multilayered, derived not from a single core structure (e.g. a corporation), but from networked interdependencies. Although lay users and expert user-developers act collectively towards commonly shared goals (e.g. producing, mixing, ripping and sharing digital content), their actions are not collective but rather are instigated under complex motivational structures whereby no single individual or group of individuals has complete information regarding all likely combinations of future events. This article explores the complex interactions of distributed networks of lay users, expert developers and owners of new information infrastructures such as Flickr. The article then focuses on the challenge of governing the consequences of these new information infrastructures and concludes with implications for further research
Data control coordination in cloud-based ecosystems: the GAIA-X ecosystem
No full textValue creation in digital ecosystems entails bottlenecks among actors with heterogeneous interests and expectations. Data control is a critical element of digital strategy to remove bottlenecks and unleash value creation in the ecosystem. In this chapter, we focus on the formative stages of a cloud-based ecosystem to examine how actors coordinate data control activities to co-create value. We develop a conceptual model of data control coordination in cloud-based ecosystems by drawing on the formation of the EU GAIA-X ecosystem. Our model illustrates how data control is regulated and managed either within the firm’s hierarchy or within the ecosystem. It shows that coordination among actors across a cloud-based ecosystem starts by resolving data control bottlenecks in multilateral agreements before engaging in innovative activities that lead to value co-creation. Our model contributes to research on digital strategy by looking at data control coordination as a precursor to generating complementarities between ecosystem actors. This raises important implications for data strategies in digital ecosystems
The communicative constitution of IT innovation
No full textThis paper contributes to studies of IT innovation, by approaching discourse and technology not as alternating causalities of change, but rather as constitutive to processes of change. Drawing on a communicative constitution of organization (CCO) perspective, the paper provides an analysis of oral and written evidence on innovations in the English National Programme for IT (NPfIT) from 1998 to 2011. The paper makes two key contributions to the literature. First, it offers a longitudinal empirical understanding of how IT innovation is constituted in the triadic relationship between human and nonhuman actors, and the narrative texts in which the delegation between the first two occurs. The paper explores the implications of this renewed understanding of IT innovation for IS research in sociomateriality. Second, the paper contributes to CCO-informed research by adopting a methodological approach that draws on both a historical analysis of the constitution of material objects in specific narrative texts and a rhetorical analysis of communicative actions. The paper explores the methodological implications of this approach for addressing the challenge of understanding the scaling-up of micro communicative actions to macro actions towards the constitution of IT innovation
Accountability in IT-mediated cross-boundary work : insights from a longitudinal case study
Full text linkDespite developing rich insights into the study of cross-boundary work, recent research lacks explicit attention to the changes in the relationships of accountability between diverse occupational communities. Drawing on the notion of governmentality as well as
research into systems of control and resistance, this paper examines the consequences of IT-mediated cross-boundary work on relationships of accountability in a private hospital. The paper develops theoretical implications for understanding the role of historical-material objects in cross-boundary work, and the dynamic between IT-mediated relationships of accountability across occupational communitie
The failure of foresight in crisis management : a secondary analysis of the Mari disaster
No full textForesight the ability to plan and think systematically about future scenarios in order to inform decision-making in the present has been applied extensively by corporations and governments alike in crisis management. Foresight can be complicated because dispersed groups have diverse, non-overlapping pieces of information that affects an organization's ability to detect, mitigate, and recover from failures. This paper explores the failure of foresight in crisis management by drawing on data on events that preceded and followed the Mari disaster in a naval base in Cyprus in July 2011, where a large explosion killed 13 people and injured 62 others, while completely destroying the major power plant of the island. The paper examines how foresight into crisis management decisions was compromised because of a conscious effort by high ranking decision-makers to minimize emergent danger and avoid responsibility for the crisis, in joint with red tape, bureaucracy, and poor coordination and information flows. The paper explores the notion of operational and political responsibility of individual decision-makers and discusses an alternative approach to foresight in crisis management, one that is built on multiple layers of decision-making. © 2012 Elsevier Inc. All rights reserved
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