This article reviews the history of the recent shift to electronic trading in equity, foreign exchange, and fixed-income markets. The authors analyze a new data set: the eSpeed electronic Treasury network. They contrast the market microstructure of the eSpeed trading platform with the...

The authors provide a recent account of the diffusion of electronic business in the U.S. economy using new data from the U.S. Bureau of the Census. They document the extent of the diffusion in three main sectors of the economy: retail, services, and manufacturing. For manufacturing, they also...

The information technologies presently used in companies are followed by a significant social and economic development, but they also imply, inevitably, the occurrence of several risks that need to be considered once approved. This study has for purpose the identification of the most important...

In theory, Internet-only banks should have low overhead expenses, and thus should be able to charge better prices (lower fees, higher deposit rates, lower loan rates) and still earn normal profits. To test this theory, this study compares the financial performance of 10 new Internet-only banks...

This study presents the results of an empirical test of two hypotheses concerning the quality of a group of data processing patents on methods of doing business. The hypotheses are motivated by two frequently voiced criticisms of these patents: that their scope is overly broad and that they cite...

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The Internet is a powerful channel that presents new opportunities for touching customers, enriching products and services with information, squeezing out costs through process automation, and redesigning internal business processes through enhanced communication and knowledge sharing. In most...