SKEMA Business School

Transformative artificially intelligent tools, such as ChatGPT, designed to generate sophisticated text indistinguishable from that produced by a human, are applicable across a wide range of contexts. The technology presents opportunities as well as, often ethical and legal, challenges, and has the potential for both positive and negative impacts for organisations, society, and individuals. Offering multi-disciplinary insight into some of these, this article brings together 43 contributions from experts in fields such as computer science, marketing, information systems, education, policy, hospitality and tourism, management, publishing, and nursing. The contributors acknowledge ChatGPT’s capabilities to enhance productivity and suggest that it is likely to offer significant gains in the banking, hospitality and tourism, and information technology industries, and enhance business activities, such as management and marketing. Nevertheless, they also consider its limitations, disruptions to practices, threats to privacy and security, and consequences of biases, misuse, and misinformation. However, opinion is split on whether ChatGPT’s use should be restricted or legislated. Drawing on these contributions, the article identifies questions requiring further research across three thematic areas: knowledge, transparency, and ethics; digital transformation of organisations and societies; and teaching, learning, and scholarly research. The avenues for further research include: identifying skills, resources, and capabilities needed to handle generative AI; examining biases of generative AI attributable to training datasets and processes; exploring business and societal contexts best suited for generative AI implementation; determining optimal combinations of human and generative AI for various tasks; identifying ways to assess accuracy of text produced by generative AI; and uncovering the ethical and legal issues in using generative AI across different contexts.

This paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. The results show that common law countries generally have the best, and French civil law countries the worst, legal protections of investors, with German and Scandinavian civil law countries located in the middle. We also find that concentration of ownership of shares in the largest public companies is negatively related to investor protections, consistent with the hypothesis that small, diversified shareholders are unlikely to be important in countries that fail to protect their rights.

This article evaluates a theoretical model based on hypothesized relationships among four constructs, namely, destination image, place attachment, personal involvement, and visitors’ satisfaction as antecedents of loyalty. These relationships are explored for a sample of 705 international visitors staying in hotels on the island of Mauritius. Confirmatory factor analysis is used initially to ascertain the dimensions of the various constructs but also to assess the convergent and discriminant validity of the measurement items. The structural model indicates that destination image, personal involvement and place attachment are antecedents of visitors’ loyalty but this relationship is mediated by satisfaction levels. The findings offer important implications for tourism theory and practice.

ABSTRACT This paper delineates the link between the existence of information, the timing of trades, and the stochastic process of prices. We show that time affects prices, with the time between trades affecting spreads. Because the absence of trades is correlated with volume, our model predicts a testable relation between spreads and normal and unexpected volume, and demonstrates how volume affects the speed of price adjustment. Our model also demonstrates how the transaction price series will be a biased representation of the true price process, with the variance being both overstated and heteroskedastic.

The UN COP26 2021 conference on climate change offers the chance for world leaders to take action and make urgent and meaningful commitments to reducing emissions and limit global temperatures to 1.5 °C above pre-industrial levels by 2050. Whilst the political aspects and subsequent ramifications of these fundamental and critical decisions cannot be underestimated, there exists a technical perspective where digital and IS technology has a role to play in the monitoring of potential solutions, but also an integral element of climate change solutions. We explore these aspects in this editorial article, offering a comprehensive opinion based insight to a multitude of diverse viewpoints that look at the many challenges through a technology lens. It is widely recognized that technology in all its forms, is an important and integral element of the solution, but industry and wider society also view technology as being part of the problem. Increasingly, researchers are referencing the importance of responsible digitalization to eliminate the significant levels of e-waste. The reality is that technology is an integral component of the global efforts to get to net zero, however, its adoption requires pragmatic tradeoffs as we transition from current behaviors to a more climate friendly society.

Abstract Management and organizational scholars have paid increasing attention to the interconnections between digital transformation and innovation management in the last decade. However, a highly fragmented understanding of this topic is what we are left with so far. In this editorial, we suggest an approach to open up the black box of the interplay between digital transformation and innovation management by providing a framework that identifies three levels of analyisis (i.e., macro, meso, and micro) along which existing and future research on the topic can be organized. This model encourages scholars to conduct theoretical and empirical studies on how digital transformation affects ecosystems’ structure and governance, how industries and firms compete and organize for innovation in a digitalized world, how the processes for developing new products and services change under the effect of digital technologies, and the implications of digital transformation on managing people and teams involved in the innovation process, among the other topics. We also provide a synthesis of the eight papers published in the Special Issue that this editorial introduces and develop an agenda for future research that will hopefully contribute to encourage and shape future scholarly efforts into this field.

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We investigate empirically the determinants of the quality of governments in a large cross-section of countries. We assess government performance using measures of government intervention, public sector efficiency, public good provision, size of government, and political freedom. We find that countries that are poor, close to the equator, ethnolinguistically heterogeneous, use French of socialist laws, or have high proportions of Catholics of Muslims exhibit inferior government performance. We also find that the larger governments tend to be the better performing ones. The importance of historical factors in explaining the variation in government performance across countries sheds light on the economic, political, and cultural theories of institutions.

In Orlando the EJIS Board decided to implement a policy change that I had proposed in my last editorial addressing the IS community (Rowe, 2012), asking authors (starting January 2013) to explicitl...

This study investigates characteristics of individual crowdfunding practices and drivers of fundraising success, where entrepreneurs can tailor their crowdfunding initiatives better than on standardized platforms. Our data indicate that most of the funds provided are entitled to receive either financial compensations (equity and profit-share arrangement) or nonfinancial benefits (final product and token of appreciation), while donations are less common. Moreover, crowdfunding initiatives that are structured as nonprofit organizations tend to be significantly more successful than other organizational forms in achieving their fundraising targets, even after controlling for various project characteristics. This finding is in line with theoretical arguments developed by the contract failure literature which postulates that nonprofit organizations may find it easier to attract money for initiatives that are of interest for the general community due to their reduced focus on profits.

Our aim is to develop a set of leading performance indicators to enable managers of large projects to forecast during project execution how various stakeholders will perceive success months or even years into the operation of the output. Large projects have many stakeholders who have different objectives for the project, its output, and the business objectives they will deliver. The output of a large project may have a lifetime that lasts for years, or even decades, and ultimate impacts that go beyond its immediate operation. How different stakeholders perceive success can change with time, and so the project manager needs leading performance indicators that go beyond the traditional triple constraint to forecast how key stakeholders will perceive success months or even years later. In this article, we develop a model for project success that identifies how project stakeholders might perceive success in the months and years following a project. We identify success or failure factors that will facilitate or mitigate against achievement of those success criteria, and a set of potential leading performance indicators that forecast how stakeholders will perceive success during the life of the project's output. We conducted a scale development study with 152 managers of large projects and identified two project success factor scales and seven stakeholder satisfaction scales that can be used by project managers to predict stakeholder satisfaction on projects and so may be used by the managers of large projects for the basis of project control.

Industry–university collaborations (IUCs) have received increased attention in management practice and research. The need for innovation in today’s business environment and the ambition of policymakers to commercialize academic knowledge intensify this trend. However, although research has devoted considerable effort to finding the determinants of success for interfirm collaboration, much less is known about IUCs. This article presents the results of a systematic review of the literature on the collaboration between industry and universities. We perform an extensive analysis of research published on industry–university collaboration projects with the objective of distilling factors that influence the success of such collaborations. We propose a novel conceptual model, which synthesizes our empirical results, and use it to organize and categorize influencing factors and their interrelationship within the collaboration process. Based on our review of existing literature, we identify an agenda for future research in this domain.

Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and therefore of performance of social institutions. We argue that trust should be particularly important for the performance of large organizations. In a cross-section of countries, evidence on government performance, participation in civic and professional societies, importance of large firms, and the performance of social institutions more generally supports this hypothesis. Moreover, trust is lower in countries with dominant hierarchical religions, which may have deterred networks of cooperation trust hold up remarkably well on a cross-section of countries.

Equity crowdfunding is a new form of entrepreneurial finance, in which investors do not receive perks or engage in pre-purchase of the product, but rather participate in the future cash flows of a firm. In this paper, we analyze what determines individual investment decisions in this new financial market. One important factor that may influence the behavior of investors is the way the portal allocates securities. We use unique data from four German equity crowdfunding portals to examine how the allocation mechanism affects funding dynamics. In contrast with the crowdfunding campaigns on Kickstarter, on which the typical pattern of project support is U shaped, we find that equity crowdfunding dynamics are L shaped under a first-come, first-served mechanism and U shaped under a second-price auction. The evidence also shows that investors base their decisions on information provided by the entrepreneur in the form of updates as well as by the investment behavior and comments of other crowd investors.

ABSTRACT This study analyzes the effects of changes in S&P 500 index composition from January 1986 through June 1994, a period during which Standard and Poor's began its practice of preannouncing changes five days beforehand. The new announcement practice has given rise to the “S&P game” and has altered the way stock prices react. We find that prices increase abnormally from the close on the announcement day to the close on the effective day. The overall increase is greater than under the old announcement policy although part of the increase reverses after the stock is included in the index.

This paper delineates the link between the existence of information, the timing of trades, and the stochastic process of prices. We show that time affects prices, with the time between trades affecting spreads. Because the absence of trades is correlated with volume, our model predicts a testable relation between spreads and normal and unexpected volume, and demonstrates how volume affects the speed of price adjustment. Our model also demonstrates how the transaction price series will be a biased representation of the true price process, with the variance being both overstated and heteroskedastic.

Purpose The purpose of this paper is to incorporate mobile payment (MP) self-efficacy, new technology anxiety, and MP privacy concerns into the basic TAM to explore MP adoption, particularly tap-and-go payment, among US consumers. Design/methodology/approach Data were collected through an online survey conducted among students at a Midwestern University in the USA. A total of 254 participants provided 240 useable responses. Findings MP self-efficacy significantly impacts perceived ease of use (PEOUMP) and perceived usefulness of MP (PUMP). These in turn impact MP attitude, which affects intention to use MP. Privacy concerns also impact attitude towards MP and MP use intention. New technology anxiety impacts PEOUMP, but not PUMP. Research limitations/implications The study uses a convenience sample of young US consumers, which could limit the generalisability of the results. The study is also limited to tap-and-go payment. Practical implications US retailers have information on some of the factors that encourage MP adoption. Retailers need to address self-efficacy concerns, MP privacy concerns, and consumers’ perceptions of usefulness of the technology. Originality/value There has been little research on factors impacting tap-and-go payment adoption in the USA. The study highlights the roles of self-efficacy and privacy concerns. It focusses on tap-and-go payment, since this technology can enhance consumers’ retail experience.

Many researchers have suggested that meeting time, scope, and budget goals, sometimes called ‘project efficiency,’ is not the comprehensive measure of project success. Broader measures of success have been recommended; however, to date, nobody has determined empirically the relationship between efficiency and overall success or indeed shown whether efficiency is important at all to overall project success. Our aim in this article is to correct that omission. Through a survey of 1,386 projects we have shown that project efficiency correlates moderately strongly to overall project success (correlation of 0.6 and R 2 of 0.36). Efficiency is shown through analysis to be neither the only aspect of project success nor an aspect of project success that can be ignored.

Abstract Chief executive officer (CEO) narcissism affects the takeover process. Acquirer shareholders react less favorably to a takeover announcement when the target CEO is more narcissistic. Narcissistic acquiring CEOs negotiate faster. They are also marginally more likely to initiate deals. Acquirer CEO narcissism and target CEO narcissism are associated with a lower probability of deal completion and reduce the likelihood that the target CEO will be employed by the merged firm. Our findings highlight the importance of both acquirer and target CEO psychological characteristics throughout the takeover process.

Abstract The increasing pervasiveness of technology-driven firms that offer financial services has led to growing pressure on traditional banks to modernize their core business activities and services. Many banks tackle the challenges of digitalization by cooperating with startup firms that offer technology-driven financial services and novel service packages (fintechs). In this article, we examine which banks typically collaborate with fintechs, how intensely they do so, and which form of alliance they prefer. Using hand-collected data covering the largest banks from Canada, France, Germany, and the United Kingdom, we provide detailed evidence on the different forms of alliances occurring in practice. We show that banks are significantly more likely to form alliances with fintechs when they pursue a well-defined digital strategy and/or employ a chief digital officer. Moreover, in line with incomplete contract theory, we find that banks more frequently invest in small fintechs but often build product-related collaborations with larger fintechs.