TAILIEUCHUNG - Digital Economy: Impacts, Influences and Challenges 2005 phần 8

các chuyên gia từ các khu vực tiêu dùng qua chuyển động như những người đại diện bởi Tăng sức mạnh! Kinh nghiệm của Hàn Quốc băng thông rộng có thể cho chúng tôi biết về tương lai của truy cập Internet tốc độ cao ở Anh? (2003). | Digital Technologies and the Cross-Border Expansion of South African Banks 269 Endnotes 1 Tier 1 capital is a measure of the strength of the bank and is defined as common equity qualifying non-cumulative perpetual preferred stock and minority interests less goodwill. 2 For a critical discussion of Dunning s eclectic approach see for example Ietto-Gillies 1992 chapter 12 pp. 120-124. 3 For a detailed discussion of the application of Dunning s eclectic approach to the internationalisation of service firms see Roberts 1998 . 4 See Dicken 2003 p. 446 for examples of product innovations in financial markets. 5 Briefly difficulties arise because of the asymmetric distribution of information concerning the transaction between buyer and seller. The exchange of knowledge gives rise to problems of adverse selection and moral hazard that may prevent such transactions occurring in the open market. Adverse selection is an ex ante information problem referring to a situation in which one party in a potential transaction is better informed about a relevant variable in the transaction than the other party. Moral hazard is an ex post information problem referring to action which parties in a transaction may take after they have agreed to execute the transaction. 6 According to Ashurst 1998 the sheer scale of this project puts other e-cash projects in the world in the shade. References Aharoni Y. 2000 . The role of reputation in global professional business services. In Y. Aharoni and L. Nachum Eds. Globalization of Services Some implications for theory and practice. London Routledge. Arrow K. J. 1969 . Classificatory Notes on the Introduction and Transmission of Technical Knowledge. American Economic Review 59 29-35. Arrow K. J. 1974 . The Limits to Organizatian. New York Norton. Ashurst M. 1998 October . South Africa s Banking Revolution. The Banker 148 872 102-104. Retrieved May 7 2003 from EBESCO database. Belford D. 2003 . African Banks IT investment boom imminent says .