This paper reports on the theoretical development and empirical validation of a measurement instrument for three core capabilities of IT departments. The instrument is based on the work of Feeny & Willcocks (1998) and includes the capabilities "IS/IT governance", "Business system thinking" and...

Securities are increasingly traded through multiple venues. Chowdhry and Nanda (1991) show that sophisticated investors benefit by splitting orders across markets at the cast of local investors who only trade through one venue. If trading hours do not perfectly overlap, we can test for...