The Internet As A Driver For Unbundling: A Transaction Perspective from the Stockbroking Industry

The Internet has created opportunities for the unbundling of transaction-based subprocesses in stockbroking and other information-intensive industries. This paper conceptualizes business models that unfold in the face of such unbundling trends within the context of the Australian securities market. Major sub-processes of investor trading are identified and mapped to a general path of current and potential future unbundling trends. Finally, the paper identifies economic and technical drivers for the adoption of unbundling arrangements within electronic markets for the provision of investor trading services.

[1]  S. Ghoshal.  BAD FOR PRACTICE: A Critique of the Transaction Cost Theory. , 1995 .

[2]  Beat F. Schmid,et al.  Elements of a reference model for electronic markets , 1998, Proceedings of the Thirty-First Hawaii International Conference on System Sciences.

[3]  JoAnne Yates,et al.  Electronic markets and electronic hierarchies , 1987, CACM.

[4]  Hamid Biglari,et al.  The Equity Market of the Future , 2000 .

[5]  Yannis Bakos,et al.  An Exploratory Study of the Emerging Role of Electronic Intermediaries , 1997, Int. J. Electron. Commer..