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With the development of communication technology that makes online transactions easier, there is also an increased risk of disintermediation—sellers and buyers circumventing a platform to transact directly—in online two-sided marketplaces. Such disintermediation may lead to significant revenue loss for online platforms. However, it remains unclear how the characteristics of platforms affect their vulnerability to disintermediation. Using the blockade of Skype in mainland China as a natural experiment, this study examines how online communication technologies affect disintermediation and transaction outcomes in a large U.S. online freelance marketplace. The results show that restricting this alternative communication technology, which platforms struggle to monitor, reduces disintermediation by around 18%. This effect is potentially due to economic frictions in transactions, as the reduction in disintermediation is greater for high-transaction-cost jobs, such as time-sensitive jobs, communication-intensive jobs, and high-skilled jobs, as well as for cost-sensitive users, such as experienced users and personal users as opposed to enterprise users. With these results, platforms can reduce disintermediation risks when making investment and market entry decisions. This paper was accepted by D. J. Wu, information systems. Funding: This work was supported by the Strategic Management Society [SRF Dissertation Research Grant]. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2021.02736. [ABSTRACT FROM AUTHOR]

Digital markets have proliferated in recent years, overcoming many market inefficiencies by facilitating direct interactions between consumers and creators. Thanks to this disintermediation, consumers now have access to a vast number of alternatives, while creators can efficiently reach huge markets. However, the success of digital markets has created a concomitant challenge for creators: differentiation. In crowded markets, agencies (e.g., publishing companies in books, freelance agencies in online labor markets, independent labels in music) can differentiate creators by signaling product quality. But how do agencies' reputations affect product success for creators? Can some agencies do more harm than good? To investigate these research questions, we theorize how variation in creator and agency reputation leads to asymmetric and heterogeneous effects, namely that (1) more reputable agencies have a stronger positive effect on less reputable creators than they have on more reputable creators, and (2) less reputable agencies hurt more reputable creators more than they hurt less reputable ones. Analyses of more than one million observations from two digital markets provide empirical support for these theory-driven arguments. The findings have design implications for markets and contribute to our understanding of how agencies, depending on creator reputation, can either benefit or hurt product success. [ABSTRACT FROM AUTHOR]

Copyright of Universitas, Revista de Ciencias Sociales y Humanas is the property of Universidad Politecnica Salesiana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revue Française de Gestion is the property of John Libbey Eurotext Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In South Africa, many people are homeless or doing informal work for which they receive small amounts of cash from caring individuals. The world is moving towards cashless transactions, but devices are needed to support that move. Many people in need cannot afford such devices and usually receive cash, but fewer donors carry cash. Consequently, people in need receive less informal financial support. We propose a system that allows donors to give digital vouchers that can be redeemed at participating stores and institutions of care. This study aimed to investigate the use of blockchain technology in digital voucher management and to demonstrate the application of smart contracts to disintermediate the value transfer process specific to the donation process. A demonstrator was built to include a front end for the user to interact with and a back end containing the application logic, which was built on the Polygon blockchain, a second-layer solution for the Ethereum blockchain. The model included tokenising vouchers as non-fungible tokens, and the smart contracts governed their logic and the conditions to be met. The demonstrator was validated using smart contract and unit tests to evaluate the security and functionality. While the model was not implemented in reality, a fully functioning demonstrator was developed. The platform achieved the aim of disintermediating the voucher management process. A real-world implementation could help many in need to receive tokens for food, shelter and clothing from direct, individual donors. Significance: We developed an architecture for a digital voucher donation management system that enables individual donors to transfer cashless vouchers to recipients in need. The recipients can then exchange the vouchers for necessities such as shelter, food and clothing. Such a system will become essential in the near future as we move towards a cashless society. The proposed system is safe because it is based on blockchain technology.

Purpose: The Internet has encouraged rural tourism experience providers to develop a new management strategy that opts for disintermediation to access the market. In this context, incoming travel agencies (destination management companies [DMCs]), despite the local component, lose capacity to promote the rural tourism. The main question is what kind of relationship between stakeholders would enhance effective intermediation processes between them. The paper examines such constraints and limitations of existing relationships between small local rural tourism producers and DMCs. Design/methodology/approach: Using the Basque Country region of northern Spain as a case study, the authors used a mixed qualitative and quantitative methodology based on semi-structured in-depth interviews and an online survey. The data analysis strategy used incorporated descriptive and exploratory factor analysis (EFA). Findings: In this research, most of the tourism disintermediation factors identified in previous literature were reinforced when tested in the rural context. The results confirm that power, value, product differentiation, digitisation and stakeholder collaboration are key elements. The value provided in the international segment by DMCs, though, was found to be irrelevant. Originality/value: This article contributes to filling a gap in the literature on rural tourism destination management from a holistic view of the destination understanding the business-to-business (B2B) relationship among stakeholders in rural tourism. This paper focuses on those elements that create value for local producers to sell the products through intermediaries and provides a framework for understanding the factors involved in value creation in rural tourism intermediation, which is applicable to further empirical studies and provides interesting managerial implications. [ABSTRACT FROM AUTHOR]

This Special Issue delves into the nexus of pop politics and popular culture, focusing on the employment of cultural symbols and strategies in communication. The articles included discuss the evolution of politainment in the digital age, where social media platforms amplify political messages by blending entertainment with political discourse. The authors highlight concerns regarding the devaluation of political information and its impact on democratic quality. Furthermore, the issue examines how pop politics encourages civic engagement and political awareness, utilizing various mediums for collective action, while cautioning against the potential adverse effects on public discourse. Ultimately, this Special Issue provides multidisciplinary perspectives on the intersection of politics and entertainment, its implications for democracy, and the evolving landscape of political communication. [ABSTRACT FROM AUTHOR]

Online, pure-labor service platforms (e.g., Zeel, Amazon Home Services, Freelancer.com) represent a multibillion-dollar market. An increasing managerial concern in such markets is the opportunistic behavior of service agents who defect with customers off platform for future transactions. Using multiple methods across studies, the authors explain this platform exploitation phenomenon. In Study 1, they utilize a theories-in-use approach to clarify why and when platform exploitation occurs and derive some hypotheses. Study 2 empirically tests these hypotheses using data from a health care platform that connects nurses and patients. The results indicate that high-quality, long-tenured service agents may enhance platform usage, but customers also are more likely to defect with such agents. Platform exploitation also increases with greater customer–agent interaction frequency (i.e., building stronger relationships). This phenomenon decreases agents' platform usage due to capacity constraints caused by serving more customers off platform. These effects are stronger as service price increases (because higher prices equate to more fee savings), as service repetitiveness increases, and as the agent's on-platform customer pool comprises more repeat and more proximal customers. Finally, the authors use two scenario-based experiments to establish some managerial strategies to combat platform exploitation. [ABSTRACT FROM AUTHOR]

Today's public sphere is increasingly shaped by a dynamic, global, cross-cutting digital landscape, mostly ruled by social media and algorithms. Individuals are the raw material, the product, in this digital scenario, insofar as they generate and create information that coexists and is consumed alongside the information generated by the media outlets. In this context, this study focusses on an international sample from three countries (Spain, Colombia, and Costa Rica) to study the youngest information consumption, the trust they relay in media used to get informed, and their perceptions. The research was articulated from a quantitative methodological approach, focusing on a descriptive and correlational perspective. The results show interesting and innovative outcomes that point out that country origin does not constitute a significative factor when describing consumption patterns related to social media. It was confirmed in the study that these scenarios seem to become the new gatekeepers for young people, who barely consume traditional media such as press or radio broadcast. The lack of trust in the media that they consume to get informed is a matter of awareness, and digital literacy is described to be the most appropriated solution in a transformative normality in which young people do not consume information from traditional media. [ABSTRACT FROM AUTHOR]

Disruptive change affecting information industry entails not only a loss of influence over society but also implies the proliferation of all kind of doubtful veracity contents that contribute to undermine the solidity of democratic institutions on an international scale and in the European Union in particular. The analysis of a project such as IJ4EU allows a better understanding of the singularities that collaborative investigative journalism adopts nowadays as a formula to increase efficiency in the flow of cross-border news content and the quality of journalism and as an initiative that transcends the concrete fact of the mere informative action and enters into the strengthening of democracy betting on the generation of deep changes in the methods of working and in the very structure of the system that must occur in the mid and long term. [ABSTRACT FROM AUTHOR]

A key issue for the design of online marketplaces is addressing leakage. Buyers may use the marketplace to discover a seller or to obtain certain conveniences, but the seller may then want to take transactions off the marketplace to avoid transaction fees. Assuming buyers are heterogenous in their switching cost or inconvenience cost of purchasing directly, we provide a model in which there is partial leakage in equilibrium. We use the model to analyze the trade-offs associated with different strategies the marketplace can use to attenuate the effects of leakage: investing in transaction benefits, limiting communication, charging referral fees, using price-parity clauses, introducing seller competition on the marketplace, and hiding sellers that try to induce too much leakage. This paper was accepted by Joshua Gans, business strategy. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2023.4757. [ABSTRACT FROM AUTHOR]

The failure of major banks in 2023, such as Silicon Valley Bank (SVB), Signature Bank, First Republic Bank, and Credit Suisse, points to the continuing need for financial institutions to price liquidity risk properly and for financial systems to find alternative sources of liquidity in times of dire need. Central bank digital currencies (CBDCs), fiat-backed stablecoins (fsCOINs), and synthetic central bank digital currencies (sCBDCs) could offer improvements, but each comes with its own set of problems and conditions. Prior research reaches conflicting conclusions about the effect that each of these three financial assets has on systemic bank liquidity and fails to adequately address their net benefits relative to each other. This paper addresses these issues, including those connected to financial disintermediation, bank runs, outsourcing central bank activities, financial interoperability, cash equivalents, maturity transformation, required reserves, and changes in nations' monetary bases. After addressing the strengths and weaknesses of fsCOINs and CBDCs, we conclude that sCBDCs provide the most significant net liquidity benefits when risks and returns are considered. [ABSTRACT FROM AUTHOR]

Disintermediation is the ability to sell products and services directly to consumers without these having to pass or go through a 'middleman', such as travel agent or record company. With no product or service to sell to consumers, disintermediation in the non‐profit sector has been conceived as the giving of money directly to beneficiaries/end users, without the need to go through a 'middleman' charity—in other words, it is disintermediated giving. However, there is no consensus definition of what 'disintermediated giving' is or to what it applies. Much of the academic literature has focused on one form of disintermediated giving: crowdfunding, which is generally conducted on digital platforms. However, not all crowdfundraising/crowdfunding disintermediates charities from the process of giving; and not all disintermediation of charities from the giving process is accomplished via digital crowdfunding platforms. Further, there are examples of various forms of disintermediated giving, particularly, but not solely via crowdfunding platforms, that have raised questions about its practices, ethics, regulation and accountability. Finding robust and sustainable solutions to these issues first requires a coherent conceptualisation of disintermediation/disintermediated giving in the non‐profit sector. This paper attempts to do that by providing a typology of disintermediation/disintermediated giving. We examine the phenomenon of disintermediation in organisations that adopt the 'traditional charity model' (those which ask for and then convert donations into goods and services for beneficiaries) and look to see which functions and processes are subjected to disintermediation. This can be either the whole or part of that asking/converting process, which is replaced or bypassed by a different entity (individuals, commercial fundraising entities, or companies or charities that adopt an alternative approach to the 'traditional charity model'). Our typology contains three main types of disintermediation: (A) the charity is disintermediated, with donations and support given directly by donors to beneficiaries; (B) the charity's fundraising function is disintermediated; (C) the charity's service provision to beneficiaries is disintermediated. Each of these raises ethical and regulatory issues, which we briefly explore. [ABSTRACT FROM AUTHOR]

There is a great deal of need in this world, and some are taking their plights directly to the public for help rather than approaching nonprofit organizations. This content analysis of GoFundMe solicitations compared a range of requests (n = 303) to document how similar the solicitation strategies of crowdfunding campaigns run by individuals are to those from nonprofit organizations. Results from this investigation helped address the uncertainties of the disintermediation of the nonprofit sector. Though disintermediation is real and actively taking place, results indicate that nonprofit organizations are in a healthy position to survive the disruption of crowdfunding while adapting, adopting and improving crowdfunding behaviors. [ABSTRACT FROM AUTHOR]

Essemtec AG develops, manufactures, and sells machinery and equipment to the electronics industry. This teaching case presents Essemtec AG's experience with implementing a configure, price, quote (CPQ) system in its supply chain from the perspective of Tim, the Product Manager, who led the implementation project. This case helps students understand the value and organizational impact of a CPQ system on companies like Essemtec AG. [ABSTRACT FROM AUTHOR]

Political spectacularization is a broad global phenomenon challenging contemporary digital political communication under new features that define interactive digital narratives. In this sense, the use of politainment formulas in digital contexts to reconnect the electorate with political leaders and institutions through a more direct and interactive communication deserves further understanding of its implications on the devaluation of political information and the loss of democratic quality. This thematic issue sheds some light on how the spectacularization of political communication, which increasingly takes place in online contexts, affects and is affected by these processes, where entertainment is crucial to engage citizens. In this editorial, we provide a short overview of how research on politainment has started to shift its attention away from traditional media toward the wide array of lenses of politainment among digital platforms. The articles in this thematic issue reflect this shift but also show its consequences in terms of political engagement. Finally, we outline further research steps, which should establish a more nuanced and multifaceted understanding of the complex relationship between political communication, entertainment, and new digital communication formulas, which is crucial to advance knowledge in the field.

The European Central Bank (E.C.B.) anticipates including a holding limit of about e3,000 per user within the design of its potential retail central bank digital currency for the Eurozone, the digital euro. This is principally motivated by concerns regarding compliance with regulations related to anti-money laundering and countering the financing of terrorism and the disintermediation of banks as credit intermediaries. This paper argues that these concerns are unwarranted, and, in any case, the holding limit would not be an effective solution to these concerns. The digital euro could be introduced with unlimited holdings by individual users in conformity with E.U. law and while maintaining banks as credit intermediaries in the Eurozone financial system.

Too often, regional, rural and remote cities and towns are configured in deficit to the metropolis. As local newspapers have closed, how are local stories gathered, understood, published and disseminated? The objective of this article probes how women leaders in the media industries deploy their lived experiences to re/shape, reimagine and sustain regional, rural and remote life through digitizing community leadership. We explore how technology provides new opportunities to share stories of women’s strength and capacity to build new pathways between information and citizens. Using original interviews, we investigate how women in these locations use the internet and digitization to share stories of their communities and culture to metropolitan environments in the absence of truly local news outlets, bypassing traditional news media and taking control of how their stories are told. This approach to the research demonstrates that alternative modes of ‘writing back’ are emerging. Certainly, analogue injustices overlay digital inequalities. However, the opportunities and potential for resistance and interventions are revealed and disseminated the courage, direction and gumption of women summoning a different mode of media leadership that is critiques and transforms traditional models of ownership, production, and consumption. The implications of this paper are important, as we offer a fresh model to think about regional media and regional media leadership. Yet the value of this research transcends media, summoning a model of social, cultural, and economic transformation, through digitization, disintermediation and deterritorialization.

The communicative effects of disintermediation caused by social media promote the expansion of personalist and emotional political discourses that reach the audience directly and evade the traditional journalistic filter. This phenomenon leads to new political communication tactics, but also exposes citizens to potentially fraudulent, contaminated or polarised content. In this context, framed in post-truth, the term 'fake news' gains relevance as a way of referring to disinformation and as a political and performative argument that can be weaponised. This research aims to analyse such use in the discourse of the former president Donald Trump during his presidential term (2017-2021), focussing on Twitter as the main platform in his political communication strategy online. To analyse this, we resort to a methodological triangulation of content, discourse, and sentiment analysis, with the latter combining both lexicon and artificial intelligence (AI) techniques through machine learning on the basis of deep learning and natural language processing, which is applied to his messages published with the term 'fake news' (N = 768). The analysis of the sample, provided here in an open dataset, employs self-developed software that allows each unit of analysis to be filtered and coded around its predominant themes, sentiments, and words. The main results confirm that Trump's attribution of 'fake news' focusses on three main topics: the media (53%), politics (40%) and his cabinet (33%). It also shows how the former president resorts to a personalist agenda, focussed on the defence of his proposals and his team (80%) by delegitimizing his opponents and the press, with a negative tone (72%) loaded with derogatory terms, confirming a weaponised strategy of the term 'fake news' as a political argument of disinformation and disintermediation. [ABSTRACT FROM AUTHOR]

The growing interconnection of technology and politics and the enactment of particular political goals (technopolitics) has been closely articulated with emotions and the building of foreign policy narratives. In the current context of change in the communication paradigm, global and disintermediated, bringing together in the same digital space distinct actors, and having wide diffusion and reach, the challenges to international politics are diverse. Digital and media literacy are, in this regard, key to address the implications of these changes, avoiding the spreading of disinformation, fake news and distorted practices that might have profound effects at societal and political level. In this context, this paper aims at providing a basis for understanding the emerging and increasingly clear connection between political communication, polarization, disinformation, and emotions in social networks and digital literacy as a central factor explaining misuse or alleviating deficiencies, on the one hand, and how this context is affecting the reconfiguration of international relations and politics, on the other hand. The case of the war in Ukraine is illustrative of these trends and dynamics. [ABSTRACT FROM AUTHOR]

Copyright of Societá Mutamento Politica is the property of Firenze University Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Societá Mutamento Politica is the property of Firenze University Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Today’s public sphere is increasingly shaped by a dynamic, global, cross-cutting digital landscape, mostly ruled by social media and algorithms. Individuals are the raw material, the product, in this digital scenario, insofar as they generate and create information that coexists and is consumed alongside the information generated by the media outlets. In this context, this study focusses on an international sample from three countries (Spain, Colombia, and Costa Rica) to study the youngest information consumption, the trust they relay in media used to get informed, and their perceptions. The research was articulated from a quantitative methodological approach, focusing on a descriptive and correlational perspective. The results show interesting and innovative outcomes that point out that country origin does not constitute a significative factor when describing consumption patterns related to social media. It was confirmed in the study that these scenarios seem to become the new gatekeepers for young people, who barely consume traditional media such as press or radio broadcast. The lack of trust in the media that they consume to get informed is a matter of awareness, and digital literacy is described to be the most appropriated solution in a transformative normality in which young people do not consume information from traditional media.

The failure of major banks in 2023, such as Silicon Valley Bank (SVB), Signature Bank, First Republic Bank, and Credit Suisse, points to the continuing need for financial institutions to price liquidity risk properly and for financial systems to find alternative sources of liquidity in times of dire need. Central bank digital currencies (CBDCs), fiat-backed stablecoins (fsCOINs), and synthetic central bank digital currencies (sCBDCs) could offer improvements, but each comes with its own set of problems and conditions. Prior research reaches conflicting conclusions about the effect that each of these three financial assets has on systemic bank liquidity and fails to adequately address their net benefits relative to each other. This paper addresses these issues, including those connected to financial disintermediation, bank runs, outsourcing central bank activities, financial interoperability, cash equivalents, maturity transformation, required reserves, and changes in nations’ monetary bases. After addressing the strengths and weaknesses of fsCOINs and CBDCs, we conclude that sCBDCs provide the most significant net liquidity benefits when risks and returns are considered.

Digitalization has reconfigured the landscape in the fashion media ecosystem. New species have emerged within the environment. Today, fashion magazines compete with numerous fashion and lifestyle content providers, questioning their role as the sole authority when it comes to deciding "what is fashionable" and challenging their monopoly when it comes to prescribing aesthetic tastes. The purpose of this study is to analyze the case of Vogue to illustrate how species can adapt to the ecosystem. Vogue's original response, as reflected in the different initiatives we have studied, enables us to draw up a map of players within the fashion industry, one in which the magazine serves as an institution and not only as a member of the media. In this respect, our conclusions highlight the importance of the public, as opposed to the medium itself, based on an understanding of communication as a social rather than a technological phenomenon. [ABSTRACT FROM AUTHOR]

The concept of "disintermediation" is one of the instruments used to interpret recent developments in politics and communication, especially in digital media. Our thesis is that the concept of "disintermediation" can be considered from two different perspectives. On the one hand, it can be interpreted in the strict historically established sense. On this basis it may be argued that the internet has contributed to "disintermediate" traditional intermediaries, surpassing in part the traditional intermediaries of the twentieth century (such as journalists). On the other, "disintermediation" can be seen in broader, etymological, absolute and non-relative terms. In this sense, the concept of "disintermediation" is no longer appropriate and consequently, based on experimental results and a theoretical analysis of small and large digital intermediaries, we shall propose the concept of "neointermediation." This article presents the characteristics of neointermediaries, which are concentrating more and more power and are of two sizes: small and large. [ABSTRACT FROM AUTHOR]

Copyright of Universitas, Revista de Ciencias Sociales y Humanas is the property of Universidad Politecnica Salesiana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The number of people donating to charities is declining at a time when technology is enabling a proliferation of new ways of offering support—from crowdfunding to hacking commercial platforms like AirBnB for novel purposes. There is a risk that charities could lose their traditional position as a trusted intermediary between individuals who want to help and people who need their support. This paper offers some suggestions as to why disintermediated giving may, in some situations, offer a more attractive donor experience than traditional charitable giving and suggests some possible areas for further study. [ABSTRACT FROM AUTHOR]