since the 1970s, services marketing has grown into a major sub discipline of marketing. it is constantly claimed – but is refuted in the article – that services are now the dominant economic activity in developed countries and keeps growing while the two traditional goods sectors, manufacturing and agriculture, are declining. in today's competitive world, having expertise, knowledge and ma...

This paper employs a the variable returns to scale DEA model to take account of risky assets and estimate the operating efficiencies for the 21 domestic listed securities firms during the period 2005-2009. Evidence is found that on average the brokerage securities firms’ operating efficiencies are better than integrated securities firms. Evidence is also found that the technical inefficiency fr...

To thrive in the current embedded and electronic competitive environment, organizations must achieve advantageous positions within their networks of competition. We strengthen the understanding of the genesis of network structures by examining the IT-enabled capabilities and internal resource endowment that determine an advantageous position in competition networks, which we term as competitive...

Since the 1970s, services marketing has grown into a major sub discipline of marketing. It is constantly claimed – but is refuted in the article – that services are now the dominant economic activity in developed countries and keeps growing while the two traditional goods sectors, manufacturing and agriculture, are declining. In today's competitive world, having expertise, knowledge and marketi...

We examine herding behavior of domestic and foreign investors in the Indonesian stock market. We document that both domestic and foreign investors from a particular brokerage firm tend to herd. The foreign investors exhibit a greater propensity to herd than domestic investors. However, when examining investor trading across brokerage firms, we find only weak evidence of herding by domestic inve...

Previous studies show that analysts’ compensation is not linked to earnings forecast accuracy. We evidence however that analysts have incentives to issue accurate forecasts. We show that brokerage houses reward their best forecasters by assigning them to large, mature firms. Covering such firms increases the potential for future compensation as these firms generate a great deal of investment ba...

Electronic commerce has enjoyed great success in the retail brokerage industry. Attracted by commission savings, consumers' use of on-line brokerage firms has grown. However, brokerage customers may have difficulty comparing total trading costs, which consist of both the commission the broker charges and the cost of executing a trade. This paper reports on an experiment to examine whether order...

We examine the relation between brokerage firms research coverage and their equity ownership in IPO issuers due to earlier venture investments. Equity ownership aligns the interest of brokerage firms and IPO issuers by inducing affiliates to provide research coverage, especially by Institutional Investor all star analysts. Equity ownership also enhances the credibility of affiliated analysts wi...

Customer Relationship Management (CRM) is critical to the success of a business. Recent work in CRM has focused on the mining of customer-related data and the construction of customer behavior models. In this paper, we present a framework for an effective detection of business events that trigger the execution of customerrelated activities based on a set of predefined business rules. An event i...

Information technology is transforming financial trading, lowering costs, and increasing market transparency. Yet, new electronic trading ventures often fail to attract sufficient activity levels, and close down. Optimark, Tradepoint, Jiway, and BondConnect did not develop sufficient trading volume to survive. In contrast, the International Securities Exchange (ISE), an allelectronic options tr...