Things didn’t quite work out that way. Although it’s true that in some industries, processes of socalled disintermediation occurred (one example being the increased sale of tickets by airline Web sites, sometimes removing ticket agents from the distribution channel), in other industries new types of intermediaries arose, providing their own style of added value to electronic commercial interact...

On the way into the information age, the utilization of new information and communication technologies (ICT) is changing the way we communicate, organize our work and companies, or do business in general. The significance of these developments is obvious, e.g., in financial markets. Since the emergence of the World Wide Web, the topic of open Electronic Markets (EM) has become a big issue. Anal...

Successfully conducting business on the Internet calls for new marketing paradigms that meet the requirements of the unique combination of its inherent characteristics: electronic markets, technological platform, and marketing issues. In this context, electronic markets are the framework in which market transactions are performed on the Internet. Underlying Internet technology forces marketing ...

This paper examines how World Wide Web (WWW) usage for procurement purposes affects corporate buyers’ search costs and buying organizations’ coordination costs and how it ultimately affects the efficient boundaries of buying organizations. The analysis is based on a model that integrates Transaction Costs Economics (TCE) (Williamson 1975, 1985) and forces of electronic interconnections (Malone ...

in today’s world, markets are no longer under the limitations of a specific location and the importance of this issue is illustrated in effective decision making of economic agents, because the world financial markets are considered often valuable guideline for domestic and foreign markets. in this research, due to the connections between world stock markets, stock markets in countries with the...