1,721,259 research outputs found
Notifying Investors in Time - A Mobile Information System Approach
No full textWithin the non-institutional investment sector, private investors are usually not able to monitor all new public available information which might have significant impact on their portfolio value. This scenario might be a promising domain for mobile push information services. In order to prove these potential capabilities, this paper examines short term security price reactions following new information available to the capital market. After identifying determinants of the observed price effects and effect delays, a suitable mobile push infrastructure is introduced, which can provide an investor notification in time. It is shown how personalized combined mobile push/pull services can provide a reasonable proportion of sending portfolio relevant information immediately and reducing the level of user-intrusiveness to a manageable dimensio
Automated Mobile Alerting Services – Towards A Level Playing Field in the Financial Community
No full textPrompt information processing is one critical factor for successful investments in volatile assets. Whereas web-based financial information systems have successfully contributed to improved information supply for private investors, mobile financial services still lead a shadowy existence. Therefore, this study examines the potential of mobile alerting services empowering private investors to react quickly to critical market events. The analysis of short-term (intraday) stock price movements can show the existence of abnormal returns following company announcements. As these effects persist for a timeframe of 23 minutes on average, a window of opportunity can be proven. To utilize these findings, the price effects are forecasted using a set of figures, metrics and an estimation function. As most of the price effect magnitude and effect delay can be estimated correctly, it is demonstrated how a suitable mobile notification model is able to combine a low level of user-intrusiveness with timely information supply. Furthermore, a prototypical financial notification system based on the proposed effect estimator and the notification model is presented. The approach illustrates how private investors can be notified in time and how to provide prompt decision support in order to enhance the information supply
Notifying Investors in Time - A Mobile Information System Approach
No full textWithin the non-institutional investment sector, private investors are usually not able to monitor all new public available information which might have significant impact on their portfolio value. This scenario might be a promising domain for mobile push information services. In order to prove these potential capabilities, this paper examines short term security price reactions following new information available to the capital market. After identifying determinants of the observed price effects and effect delays, a suitable mobile push infrastructure is introduced, which can provide an investor notification in time. It is shown how personalized combined mobile push/pull services can provide a reasonable proportion of sending portfolio relevant information immediately and reducing the level of user-intrusiveness to a manageable dimensio
Towards ubiquitous information supply for individual investors: a decision support system design
No full textThis paper introduces an IT artifact called MoFiNDSS that comprises hard- and software components that provide the basis for a prototype of a financial decision support system (DSS) to support individual investors reacting to unforeseen market events. We have derived our motivation for building such a system design from behavioral finance research. Analyses of the behavior of individual investors provide evidence that this segment does react more significantly to any public news published compared to institutional investors. On the other hand, the analyses show that they react significantly slower than their institutional counterparts. Since empirical intraday event study analyses show that capital markets react promptly to new information and that excess returns decrease over a specific period of time, individual investors miss significant trading opportunities due to their current strategies of information research. We address the problem that this market segment is not able to continuously observe diverse information channels and to assess all the new information available. Our prototype decision support system continuously observes company announcements and forecasts their potential impact on the corresponding stock price. After identifying those events for which significant market reactions can be expected, wireless push-based message services provide the technical basis for prompt and location-independent information supply. Based on a novel simulation-based evaluation methodology we have developed, we demonstrate and quantify the advantages that the developed system provides to the individual investors
Automated Mobile Alerting Services – Towards A Level Playing Field in the Financial Community
No full textPrompt information processing is one critical factor for successful investments in volatile assets. Whereas web-based financial information systems have successfully contributed to improved information supply for private investors, mobile financial services still lead a shadowy existence. Therefore, this study examines the potential of mobile alerting services empowering private investors to react quickly to critical market events. The analysis of short-term (intraday) stock price movements can show the existence of abnormal returns following company announcements. As these effects persist for a timeframe of 23 minutes on average, a window of opportunity can be proven. To utilize these findings, the price effects are forecasted using a set of figures, metrics and an estimation function. As most of the price effect magnitude and effect delay can be estimated correctly, it is demonstrated how a suitable mobile notification model is able to combine a low level of user-intrusiveness with timely information supply. Furthermore, a prototypical financial notification system based on the proposed effect estimator and the notification model is presented. The approach illustrates how private investors can be notified in time and how to provide prompt decision support in order to enhance the information supply
Design of an Intraday Decision Support System
No full textIn recent years, mobile applications and technologies have become valuable for many companies and their customers. This ongoing trend has affected both businesses and everyday life. Jan Muntermann presents an intraday event study that is conducted within the German capital market, and provides evidence that investors could exploit intraday stock price effects following critical market events. He then develops the concept for a corresponding mobile decision support system that assists investors in identifying those events. Based on the design science research paradigm, he uses this concept in the design of a novel mobile decision support system, which can provide ubiquitous information access to private investors. For this work, Jan Muntermann has been awarded the CCI Dissertation Prize 2007 sponsored by the Chamber of Commerce and Industry, Frankfurt am Main. The prize awards outstanding theses that emphasize practical relevance
Sustainable Growth for the Pacific-Asia Tourism Industry: Addressing Natural Disasters and Business Opportunities with Mobile ICT
No full textThe macroeconomic relevance of the tourism industry in the Asia-Pacific region is well recognized for years. While this industry has enjoyed a significant average growth rate over the last years, it is facing the negative impacts of potential natural disasters such as tsunamis and volcano eruptions. Besides posing a risk to the health of locals and tourists, such events can cause massive negative long-term effects on the countries’ economic growth. In this paper, we present an ICT system design on the basis of mobile communication infrastructures, which provide disaster management capabilities in order to attenuate the impact of unforeseen disasters. In addition, it provides functionalities that enable novel value-adding services. Our approach addresses both challenges and business opportunities the Asia Pacific tourism industry is facing today and aims at contributing to sustainable growth in this vital sector
Opacity and Exclusivity in Electronic Securities Trading: The Case of Dark Pools. A Comparison of Liquidnet with Electronic Exchanges
No full textHow to conquer information overload? Supporting financial decisions by identifying relevant conference call topics
No full textThe ever rising amount of business communications results in a growing amount of qualitative data relevant to many decision situations. This increase in information volume and velocity threatens to overburden decision makers. We provide a structured approach towards this problem using topicmodels to reduce information overload by filtering content and by providing context-relevant information to decision makers. Building upon theoretical considerations related to phases of the decision process established by Herbert A. Simon, we implement the proposed approach on the example of a large document collection of stock analyst reports and analyst conference calls using Latent Dirichlet Allocation (a topic model). Thereby, we extract investment-relevant topics from the model and discuss the opportunities for decision support resulting from the chosen approach
Sustainable Growth for the Pacific-Asia Tourism Industry: Addressing Natural Disasters and Business Opportunities with Mobile ICT
No full textThe macroeconomic relevance of the tourism industry in the Asia-Pacific region is well recognized for years. While this industry has enjoyed a significant average growth rate over the last years, it is facing the negative impacts of potential natural disasters such as tsunamis and volcano eruptions. Besides posing a risk to the health of locals and tourists, such events can cause massive negative long-term effects on the countries’ economic growth. In this paper, we present an ICT system design on the basis of mobile communication infrastructures, which provide disaster management capabilities in order to attenuate the impact of unforeseen disasters. In addition, it provides functionalities that enable novel value-adding services. Our approach addresses both challenges and business opportunities the Asia Pacific tourism industry is facing today and aims at contributing to sustainable growth in this vital sector
- …
