Successful implementation of electronic finance : a case study of supply chain in China and Hong Kong
成功實施金融電子化 : 中國香港供應鏈案例硏究
Student thesis: Doctoral Thesis
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Detail(s)
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Award date | 15 Feb 2013 |
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Permanent Link | https://scholars.cityu.edu.hk/en/theses/theses(552d1dd4-7350-4f72-8517-0a280f5d2f91).html |
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Abstract
With the wide spread use of Internet and advance technologies, electronic financial
services, whether delivered online or through other remote mechanisms, spread
quickly in recent years. The technological changes accelerate financial sector
development by lowering the costs, increasing the usage, improving the quality and
widening the access to e-financial services. It can substantially improve efficiency
and decrease the costs of internal business functions such as expense reporting,
contract labor management and billing procedures.
Nevertheless, as studied by International Bank, the adoption of electronic finance
for organizations in Hong Kong and China is still low comparing with industrial
countries. China is famous as a worldwide manufacturer and Hong Kong as an
international financial centre. There are thousands of supply chain organizations in
these two regions; the lacking of electronic finance capability of these supply chain
organizations could face risks, which include payment default, unstable currency
exchange and high raw material costs. However, misconceptions of electronic
finance are frequently present in the business strategies in the earlier stages. These
misconceptions include cost reduction potential, ease of implementation,
revolutionary impact and disinter mediation. In view of the low adoption rate and
misconceptions of implementation, this study is to research factors influencing the
adoption of electronic finance by the supply chain organizations.
The theories used for this study are Critical Success Factors and the Double Helix
Management theories. By studying these theories, it will build a foundation for
analyzing and strengthening the implementation of electronic finance as according
to researcher Lee's study that the success of IT project implementation requires
both from analytical (technical) and process (management) approach. And the
approach should be integrated together instead of just individual approach. A
survey on the Critical Success Factors was done on this study; the surveyed entities
included the executives of Hong Kong Science Technology Parks Corporation,
Bausch & Lomb Hong Kong Limited, CapitalLogic Limited and DBA classmates
who have many years of business experience. The results showed that critical success is heavily depended on a company's management soundness and
effectiveness, such as a CEO's quality factor. And it is also combined with a
company's policies, technical abilities and competition edges.
The methodology used for this study is survey and case study. The research design
for this study adopted is a mixed model study. It is the combined positivist
paradigm and constructivist paradigm that involves the qualitative and quantitative
approaches within different phases of the research process. The reason for adopting
this mixed model study is because the final model of the developed theory, in the
future, will be implemented as information systems that will be used by
organizations. It is intended that this information system will be the support and
proof of the portability of the theory.
At the mixed model of this study includes both survey and case. First a survey was
designed to determine the critical success factors for project implementation by
organizations; and the survey results will help to determine the factors that are most
important to encourage supply chain organizations to participate and implement efinance
successfully. The adoption of e-finance by supply chain organizations is a
contemporary event that the researcher has no control over. Using Yin's criteria,
case study is appropriate to identify the actual finding for this research.
To find out how organizations are participating in electronic finance, there are three
cases selected for this study. The SMEloan was a Hong Kong company which had
involved large sector of supply chain SME companies. The SMEloan's approval
format was recognized by Hong Kong financial institutions. The second company
is Citigroup which is a worldwide financial service institution that provides
payment management solutions to corporations. The third one is a global medical
product manufacturing company GlaxoSmithKline (GSK) China Investment Ltd.
To follow the Research Framework, a research hypothesis is taken from the study
of Xiong (2009) and Hakman (2006) and then compare with the findings in
selected cases of SMEloan HK Ltd., Citigroup and a Medical Product Manufacturing company GlaxoSmithKline (GSK) China Investment Ltd. Both
research hypotheses and selected cases for success factors are analysed and
summarized in tables for building success factor model.
- China, Computer networks, Financial services industry, Hong Kong