Template-Type: ReDIF-Article 1.0 Author-Name: Bagher Asgarnezhad Nouri Author-X-Name-First: Bagher Asgarnezhad Author-X-Name-Last: Nouri Title: Effect of stockholder relationship management on market value of firms (case study: banking and financial services industry in the Tehran Stock Exchange) Abstract: Marketing has significantly changed during the past two decades. The orientation of a single interactions spectrum toward different types of modern dynamic relationship represents an approach that has been considered in the field of marketing which fulfils the expectations of the implementation of related programs. The issue of stockholders' performance as one of the marketing groups has been ignored. This study is intended to examine the effect of stockholders relationship management on the market value of firms. Stock holders relationship management is considered in different dimensions of relationship orientation, relationship evaluation mode, trust, commitment and reciprocity. Indicators of market value include stock return, stock liquidity, price to earnings ratio, and market capitalisation. Firms listed in the banking and financial services industry in the Tehran Stock Exchange were selected as the research population. All of the firms were investigated without sampling for a seven year period (2009-2016). Structural equations modelling method and AMOS software were used to analysis the research hypotheses. The results of the study show that stock holders relationship management has a significant positive effect on stock liquidity, stock return and price to earnings ratio. But it did not have a significant effect on the market capitalisation. Journal: Int. J. of Electronic Finance Pages: 73-94 Issue: 2 Volume: 9 Year: 2018 Keywords: marketing; stakeholder relations; stockholder relationship management; market value; Tehran Stock Exchange. File-URL: http://www.inderscience.com/link.php?id=92190 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:9:y:2018:i:2:p:73-94 Template-Type: ReDIF-Article 1.0 Author-Name: Ceylan Onay Author-X-Name-First: Ceylan Author-X-Name-Last: Onay Author-Name: Yasemin Ezgi Öztaş Author-X-Name-First: Yasemin Ezgi Author-X-Name-Last: Öztaş Title: Why banks adopt mobile banking? The case of Turkey Abstract: Mobile banking differs from internet banking as it enables access to financial services anytime, anywhere. Thus, it is changing the way banks create, communicate and deliver value-added products/services to their customers. However, research on mobile banking is focused on customers' adoption, while banks' perspective is neglected. This paper investigates the mobile banking adoption determinants of banks. Studying a sample of 14 Turkish banks over a 20-year period, we show that banks adopt mobile banking mainly when their deposits and loans increase and when profitability, interest income and market share decreases. Banks use mobile banking to actively manage their assets and liabilities as well as to create new revenue sources and access new customers. We also show that larger, unlisted, private and local banks are more likely to adopt mobile banking, while mobile banking complements the physical branches. Our results remain robust to alternative definitions of adoption, estimations and controls for internet adoption. Accordingly, we show that mobile banking becomes an integrated part of banks' business models. Journal: Int. J. of Electronic Finance Pages: 95-120 Issue: 2 Volume: 9 Year: 2018 Keywords: mobile banking; banks; financial institutions; technology adoption; mobility; strategy; Turkey. File-URL: http://www.inderscience.com/link.php?id=92194 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:9:y:2018:i:2:p:95-120 Template-Type: ReDIF-Article 1.0 Author-Name: Davis Bundi Ntwiga Author-X-Name-First: Davis Bundi Author-X-Name-Last: Ntwiga Author-Name: Carolyne Ogutu Author-X-Name-First: Carolyne Author-X-Name-Last: Ogutu Author-Name: Michael Kiura Kirumbu Author-X-Name-First: Michael Kiura Author-X-Name-Last: Kirumbu Title: Inclusion of peer group and individual low-income earners in M-Shwari micro-credit lending: a hidden Markov model approach Abstract: The M-Shwari micro-credit lending system has excluded the low income earners as they lack good financial options due to volatile and fluctuating income. This paper proposes a decision support system for credit scoring and lending of the low income earners who are customers of M-Shwari using the hidden Markov model. The model emits the credit scores of the customers, both for the peer groups and the individual customers. The learning and training of the model utilises the customers' socio-demographics, telecommunication characteristics and account activities. The peer groups have higher credit scores and are more attractive to offer credit facilities using M-Shwari when compared to the individual borrowers. Journal: Int. J. of Electronic Finance Pages: 121-133 Issue: 2 Volume: 9 Year: 2018 Keywords: peer group; low-income earners; electronic finance; M-Shwari; micro-credit lending; hidden Markov model; HMM; individual. File-URL: http://www.inderscience.com/link.php?id=92195 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:9:y:2018:i:2:p:121-133 Template-Type: ReDIF-Article 1.0 Author-Name: Shiu-Wan Hung Author-X-Name-First: Shiu-Wan Author-X-Name-Last: Hung Author-Name: Chiao-Ming Li Author-X-Name-First: Chiao-Ming Author-X-Name-Last: Li Author-Name: Ming-Yi Shen Author-X-Name-First: Ming-Yi Author-X-Name-Last: Shen Title: The new empirics of the relationship between operating strategy and economic volatility of Taiwan's mutual fund industry Abstract: This study reappraises the relationships among long-term performance, mutual fund business management, and economic shocks by taking 108 stock funds in Taiwan during 2007-2015 as observations. We find strong evidence of a nonlinear relationship between long-term performance and volatility index (VIX). Long-term performance is different under the volatility index threshold value and the control variables of turnover ratio, Sharpe ratio, and fee. Moreover, we note that fund managers cannot effectively overcome economic volatility. Frequently in the case of the best economic conditions, the fund managers can achieve better investment performance, but during an economic downturn they are unable to overcome worsening economic conditions, indicating that fund managers' operating strategy and professional ability need to be strengthened. Journal: Int. J. of Electronic Finance Pages: 134-142 Issue: 2 Volume: 9 Year: 2018 Keywords: mutual fund; volatility index; economic volatility; operating strategy. File-URL: http://www.inderscience.com/link.php?id=92203 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:9:y:2018:i:2:p:134-142 Template-Type: ReDIF-Article 1.0 Author-Name: Parthajit Roy Author-X-Name-First: Parthajit Author-X-Name-Last: Roy Author-Name: Abhijit Roy Author-X-Name-First: Abhijit Author-X-Name-Last: Roy Title: Towards a rational bidding process of initial public offerings: a proposed model for secure auction based on homomorphic computation and secure hash functions Abstract: There has been a large pool of research on the factors of initial public offerings (IPO) underpricing and investors' herd behaviour that influence investment decisions in general but no attention has been paid on the security aspects of IPO bidding and allocation processes to avoid unfair and fraudulent trading activities. This paper proposes a cryptographic model for secure auction of initial public offerings in Indian context. The paper synthesises IPOs by identifying the vulnerable points in it and proposes a homomorphic computation-based cryptographic model to secure it. The model uses a cryptographic hash function-based data hiding protocol for its auction process. The total infrastructure setup has also been discussed and the security measures are analysed. Journal: Int. J. of Electronic Finance Pages: 143-155 Issue: 2 Volume: 9 Year: 2018 Keywords: secure auction; homomorphic computing; RSA digital signature; initial public offerings. File-URL: http://www.inderscience.com/link.php?id=92204 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijelfi:v:9:y:2018:i:2:p:143-155