Event-Driven Mobile Financial Information Services
BeschreibungJan 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.
InhaltsverzeichnisAnalysis of intraday stock price effects on the German capital market
Mobile notification and decision support for private investors
Design of an IT artifact for intraday decision support
Evaluation of the IT artifact
Summary and further research
PortraitDr. Jan Muntermann ist wissenschaftlicher Mitarbeiter von Prof. Dr. Kai Rannenberg am T-Mobile Stiftungslehrstuhl für Mobile Business an der Universität Frankfurt am Main.
1 Introduction (p. 1)
We should help create the future, not just study the past. Gray (2002), Communications of the AIS (8:23)
Information technology and the impact of the Internet have changed dramatically the banking industry in the last decades (Chowdhury 2003, Crane and Bodie 1996, Holland et al. 1997, McKenney et al. 1997, Nehmzow 1997, Parsons et al. 1993). This development has affected processes and communication within and between the banks but also customer relations and services (Awad 2000, Beck et al. 2003, Holland and Westwood 2001).
Especially in the retail-banking sector, online banking and brokerage services have become a necessity due to customers’ demand for convenient, secure, and flexible banking services (Pikkarainen et al. 2004). The success story of online banking has become a challenge for the IT infrastructures of banks, not least because of the necessary investments. On the other hand, various studies show that these segments are highly profitable to banks because of realizable cost savings (Sheshunoff 2000, Southard and Siau 2004).
By contrast, the diffusion of mobile banking services has not yet lived up to expectations even though in the last couple of years the growth rate of mobile phones operating in countries like Germany has exceeded that of the fixed network (Bundesnetzagentur 2006). Several surveys indicate that perceived usefulness and the relative advantage provided are of major relevance for customers to adopt mobile banking services (Brown et al. 2003, Lee et al. 2003, Luarn and Lin 2005).
However, most of mobile banking research concentrates on behavioral and technical issues related to applications and services currently available. These are mainly reproductions of the traditional banking services such as payment services, basic information services such as bank statements or banking account management (e.g. Ba
rnes and Corbitt 2003, Herzberg 2003, Lanedri 2002, Mallat et al. 2004).
Utilizing the reduction of temporal and spatial constraints provided by mobile communication infrastructures, this work aims to identify and explore a new, promising mobile banking scenario. Focusing on the highly time-critical mobile brokerage domain, a novel event-driven mobile financial decision support system is introduced and its relative advantages are illustrated. Compared to existing mobile banking concepts, the explored scenario benefits from increased ubiquity due to a limited period of reaction time available and explicitly addresses the relative advantage demanded by customers.
Section 1.1 further illustrates the gap between current mobile financial service concepts and the user acceptance serving as research motivation. Then, Section 1.2 explicates the addressed research objective and the derived research questions. The general structure is then presented in Section 1.3 providing an overview of scientific foundations as well as major contributions for each of the chapters. Finally, Section 1.4 summarizes relevant methodical issues, with special focus on a design science research framework providing a methodical basis for the entire work presented in the following.
1.1 Mobile Financial Services
When planning novel mobile financial services, companies face the problem of identifying suitable service concepts that will be taken up by customers searching for the most promising investment strategies.