Blockchain-based Governance, Risk Management, and Compliance for Fractional Ownership: Design and Implementation of A Decentralized Autonomous Agent System

2023 | HICSS | Citations: 0

Authors: Cu, Mina; Peko, Gabrielle; Chan, Johnny; Sundaram, David

Abstract: Fractional ownership makes homeownership more affordable. But there are challeng ... Expand

Abstract: Fractional ownership makes homeownership more affordable. But there are challenges in a fractional ownership real estate transaction (FORET) regarding governance, risk management and compliance (GRC) processes. Centralized GRC solutions are less effective in managing the tiered structure of communications in a FORET, which can lead to principal-agent problems such as information asymmetry, risk aversion, and moral hazard. In this research we investigate how these principal-agent problems in FORET could be mitigated. Using an agency theory perspective, we adopt a design science multimethodological research approach. We propose conceptual and system artefacts to support the design and implementation of a decentralized autonomous agent system. These artefacts deliver a formal problem representation structure related to centralized GRC in fractional ownership. We illustrate our solution with a system prototype and implementation. We evaluate the research outputs and compare them with existing GRC systems. This paper contributes to the understanding of GRC in supporting fractional ownership decision making. Collapse

Topics: blockchain decision making cloud computing smart contract moral hazard

Methods: design artifact design artifact testing design science field study theory development

Theories: agency theory lemon market theory

Triple Bottom Line: Exploratory Data Analysis of Lodging Real Estate Investment Trusts

2022 | HICSS | Citations: 0

Authors: Hartman, Paper

Abstract: Popular frameworks for firm efficiency were developed 40+ years ago by educated, ... Expand

Abstract: Popular frameworks for firm efficiency were developed 40+ years ago by educated, Western businessmen. The world is different now and needs to be analyzed through modern lenses to address complex and evolving business challenges. Students learn how firms can become profitable, however, modern curriculum still does not address why. Corporate Social Responsibility (CSR) created space to consider People, Planet, and Profit in topline decision-making, however CSR has become an echo chamber. This research aims to provide a purpose for profit by asking what popular focuses are in an industry, how they differ among firms, and how this research might be used for the benefit of all stakeholders. Firms can use this analysis for decision-making to innovate allocation of resources, educational deployment, and investment in infrastructure to better serve the purpose of profit; external stakeholders can use this analysis to explore industry-wide policy gaps and create tailored solutions for societal needs. Collapse

Topics: cloud computing value creation

Methods: qualitative content analysis descriptive statistic qualitative coding

Information Processing and Stock Market Volatility - Evidence from Real Estate Investment Trusts

2015 | Americas Conference on Information Systems | Citations: 0

Authors: Jandl, Jan-Otto; Jandl, Jan-Otto

Abstract: This study proposes novel measurements of investor psychology utilizing Big Data ... Expand

Abstract: This study proposes novel measurements of investor psychology utilizing Big Data and reveals the impact of different measures on asset price volatility. We construct a news sentiment measure based on news articles reflecting information supply. News content is transformed into quantitative data utilizing sentiment analysis. We further investigate a metric for investor attention based on search queries from the web representing information demand. Consequently, we investigate how asset price volatility is attributable to information processing by investors. The main contribution of this paper is the analysis of novel insights into information processing by investors in the presence of Big Data. In particular, we find that the impact of news content (information supply) generally is much stronger than the effect of Big Data search behavior (information demand). While our results confirm the negativity-bias of investors, we find that measures additionally incorporating positive content outperform measures solely based on negative connotations. Collapse

Topics: Google+ big data privacy decision making internet technology

Methods: longitudinal research time series analysis descriptive statistic autoregressive conditional heteroscedasticity model autocorrelation analysis

Theories: behavioral economics

Text Mining for Studying Management’s Confidence in IPO Prospectuses and IPO Valuations

2015 | Americas Conference on Information Systems | Citations: 0

Authors: Tao, Jie; Deokar, Amit V

Abstract: Understanding pricing strategies in the context of the Initial Public Offering ( ... Expand

Abstract: Understanding pricing strategies in the context of the Initial Public Offering (IPO) process has been receiving much attention. Most prior studies have however focused on information sources from post issuance periods, and understanding such strategies from the management’s perspective during the IPO process is still an open research issue. Form 424 variants, as finalized IPO prospectus approved by Security Exchange Committee (SEC), contain rich and genuine information about the issuing firms. In this study, we analyze the inter-relationships between the management’s confidence (through the proxy of sentiments expressed in textual contents in the Management’s Discussion & Analysis (MD&A) sections in the prospectus) and the pre-/post-IPO valuations. We develop an analytical framework namely FOCAS-IE (Feature-Oriented, Context-Aware, Systematic Information Extraction) to derive sentiments from the MD&A sections. Further, we construct predictive models using information extracted using FOCAS-IE to predict IPO pricings. The results have shown to outperform results from prior related studies. Collapse

Topics: knowledge representation price management artificial intelligence organizational productivity web crawling

Methods: machine learning ontological modelling natural language processing conceptual modelling information extraction

The Choice Between Joint Ventures and Acquisitions: Insights from Signaling Theory

2012 | Organization Science | Citations: 0

Authors: Reuer, Jeffrey J.; Ragozzino, Roberto

Abstract: This paper extends information economics in corporate strategy and organizationa ... Expand

Abstract: This paper extends information economics in corporate strategy and organizational governance research by using signaling theory to explain firms' market entry modes. We exploit features of the initial public offering (IPO) context to investigate how signals on newly public firms shape other companies' governance choices to form joint ventures with them versus acquiring them. We also develop theoretical arguments on how the value of these signals will vary across exchange partners. The results reveal that companies are more apt to acquire, versus partner with, IPO firms taken public by reputable investment banks compared with IPO firms associated with less prominent underwriters. Venture capitalist backing also appears to be a valuable signal for prospective acquirers, particularly when the acquirer and target reside in different industries and possess dissimilar knowledge bases. We also present evidence that signals affect target selection and the emergence of market segmentation for joint venture partners and acquisition candidates. Collapse

Topics: database system strategic management knowledge base accounting missing data

Methods: Compustat descriptive statistic theory development survey robustness check

Theories: signaling theory lemon market theory

Discovering Valuable Growth Opportunities: An Analysis of Equity Alliances with IPO Firms

2010 | Organization Science | Citations: 1

Authors: Reuer, Jeffrey J.; Tong, Tony W.

Abstract: Firms often use alliances to access external resources and explore new market or ... Expand

Abstract: Firms often use alliances to access external resources and explore new market or technological opportunities, yet they also can face obstacles to discovering these opportunities in the first place. In this paper, we examine how firms can overcome these obstacles and form equity alliances with newly public companies to obtain valuable growth opportunities. Specifically, we build on real options theory and develop the argument that the visibility of firms having an initial public offering (IPO) can shape investors' recognition of the embedded growth opportunities and therefore channel their alliance activities. The evidence shows that firms are more likely to partner with IPO firms possessing more valuable growth opportunities. Furthermore, this relationship is magnified for IPO firms that have obtained more visibility, either through various interorganizational relationships or media coverage on going public. Collapse

Topics: real option database system interorganizational relationship accounting

Methods: descriptive statistic theory development Compustat statistical hypothesis test hazard function

Theories: real options theory theory of bounded rationality