Suchergebnisse

In response to the Fintech trend, an ongoing debate in the banking industry is how to design the new-generation interbank retail payment and settlement system. We propose a two-stage analytical model that takes into account the value-risk tradeoff in the new payment system design, as well as banks' participation incentives and adoption timing decisions. We find that, as the system base value increases, banks tend to synchronize their investment and adoption decisions. When the system base value is low and banks are heterogeneous, bank association ownership maximizes social welfare. When both the system base value and bank heterogeneity are moderate, government mandate leads to the socially optimal solution. When the system base value is high and banks are relatively homogenous, government ownership is socially optimal. We offer important policy implications regarding the optimal system design and the government regulator's role in shaping the banking industry in future financial innovation.

Traditional approaches for research project selection by government funding agencies mainly focus on the matching of research relevance by keywords or disciplines. Other research relevant information such as social connections (e.g., collaboration and co-authorship) and productivity (e.g., quality, quantity, and citations of published journal articles) of researchers is largely ignored. To overcome these limitations, this paper proposes a social network-empowered research analytics framework (RAF) for research project selections. Scholarmate.com, a professional research social network with easy access to research relevant information, serves as a platform to build researcher profiles from three dimensions, i.e., relevance, productivity and connectivity. Building upon profiles of both proposals and researchers, we develop a unique matching algorithm to assist decision makers (e.g. panel chairs or division managers) in optimizing the assignment of reviewers to research project proposals. The proposed framework is implemented and tested by the largest government funding agency in China to aid the grant proposal evaluation process. The new system generated significant economic benefits including great cost savings and quality improvement in the proposal evaluation process.