Czech market offers sadly no simple solution for making a fast payment on the internet for the low-cost. Comparing to the world trends the Czech internet community has small experience with online and fast payment. About 100 million of users use micropayment system every day worldwide. This is a significant trend that Czech market will follow soon. Czech internet e-commerce grows steeply gradually. Marketing company GfK Praha released research according to which 3 millions of Czech internet users made shopping payment on the web last year. This outstanding figure proves a growth in habit of using the internet for e-commerce purposes. Users reveal the real flexibility of the web which can offer not only information base but also mainly entertainment side. The worldwide tendency of digitalization shows convergence of the internet and home entertainment. It is clear that the direction of the internet will become the home medium centre soon. Web services such as TV, gaming, voice, data sharing are already on the net. It is clear that the internet business of intangible services is on the start and awaits its expansion. New services of this king will surely bring new demand for fast web payment solution.

How consumers pay influences how they feel about a transaction. In particular, paying by card has been argued to have an effect on the perception of cost; making it less salient and painful. We propose and show that payment method also influences how consumers feel about the acquired good. Specifically we focus on effects of the payment method on psychological ownership, i.e. the perception of an object as "mine". We propose that cash payment results in stronger psychological ownership because it influences the extent of perceived investment in an object. We provide evidence for the proposed effect from field and laboratory settings. Results of a longitudinal exit-survey and an experiment show that cash payers report higher levels of immediate psychological ownership than card payers. However, this effect seems to depend on the meanings associated with a payment method. Asian students (who associate credit card payment with investment and debt) do not exhibit this effect. Moreover the initial boost in psychological ownership seems to be comparably shortlived. Whilst those paying in cash experience no further increase in psychological ownership over time, those paying by card do. (author's abstract)

Syfte: Identifiera de olika betalningsmedlen för att finna samband mellan upplevelserna av deras säkerhet, enkelhet och hur dessa aspekter påverkar valet av betalningsmedel. Metod: Kvantitativ metod Teori: Litteratur, vetenskapliga artiklar och empiriska rapporter Empiri: En enkätundersökning gjordes för datainsamling Slutsats: Undersökningen bekräftar att både upplevelsen av säkerhet och enkelhet påverkar konsumenterna i valet av betalningsmedel. Vår undersökning visar att enkelhet ör den vanli-gaste och viktigaste orsaken för en konsument i valet av betalningsmedel. Undersökningen visar även att i olika ålderskategorier skiljer sig användandet av de olika betalningsmedlen åt och den visar även på olika värderingsgrunder vad gäller säkerhet och enkelhet mellan ålders-kategorierna för valet av betalningsmedel. / Purpose: Identify the different payment methods to find a connection between the perceived safety, the ease of use and how those aspects affects the choice of pay method in a buying process. Method: Quantitative method Theory: Literature, scientific articles and empirical reports Empirical foundation: A survey was made to collect data Conclusion: The research confirms that both safety and ease of use affects consumers in the choice of pay method. Our research shows that the ease of use is the most common and im-portant reason for a consumer when choosing a pay method. The survey also shows that in different age categories the use of the various means of payment is different and also shows a difference in the valuation of qualities as safety and ease of use between age categories for the choice of payment.

Purpose: The purpose of this paper to fill the research gap of lack ofcross-country studies in Germany, Hungary and Sweden in thecontext of online and mobile payment adaption and usage. Research Questions: The authors of this study aim at answering the followingquestion: What are the main similarities and differences in onlineand mobile payment acceptance in Germany, Hungary andSweden in the age group of 18-35?Theoretical Framework:The theoretical framework presents prevalent theories aboutfactors which are connected to online and mobilepayment. In addition, the Technical Acceptance Model wasused as a base for the conceptual framework developed by theauthors.Methodology: This study includes both qualitative and quantitative primarydata. The conducted survey resulted in 1016 answers; out of these869 answers were eligible. In addition, 150 companies wereasked and 30 qualitative interviews (10 per each country) wereconducted.Analysis: The analysis aimed at investigating how the acceptance of theusage of online and mobile payment differs among Germany,Hungary Sweden. Thereby, the following factors wereinvestigated: (1) perceived ease of use, (2) perceived usefulness,(3) perceived security, (4) perceived risk, (5) social influence, (6)information asymmetry and (7) intention to use. Conclusion: The findings of this cross-country study showed that Germany,Hungary and Sweden show a relatively similar level ofacceptance in online payment. In contrast, the acceptance in thecontext of mobile payment differed greatly. Whereas Swedenshowed a high level of acceptance, Germany and Hungaryshowed a relatively moderate level of acceptance.

I denna uppsats har aktiekursutveckling undersökts med utgångspunkt hur aktiekurserna påverkas vid kungörelse av företagsförvärv. En eventstudiemetod, med en marknadsmodell-estimering, har använts för att se hur anormal aktiekursutvecklingen har varit kring kungörelsen av förvärven. Aktiekursdatat är tagit från Stockholmsbörsen, där svenska köpande företags aktiekurser använts. Utöver den övergripande aktiekursutvecklingen undersöks om utvecklingen påverkas vid val av betalningsmetod, samt om det finns någon påverkan vid gränsöverskridande kontra inhemska förvärv. För de 100 förvärven som inkluderades i urvalet, påvisar resultaten att förvärven är mervärdeförstörande i snitt. Resultaten var även att förvärv där aktier används som betalningsmetod hade en mer positiv aktieutveckling än då kontanter användes. Gällande gränsöverskridande kontra inhemska förvärv, visade gränsöverskridande förvärv generellt en högre aktieavkastning. / This paper examines the stock development when an acquisition is announced between two listed companies. The paper will rely on the event study methodology and a market model for the estimation of the abnormal returns on the stock market as a result of the announcement of the acquisitions. Source of the data is the Stockholm Stock Exchange, the bidding companies in question are all Swedish. In addition to the overall performance of the stock market, the paper will cover if method of payment and if cross-border acquisitions influences the market reactions. For the 100 acquisitions which have been included in the population, the results show that the acquisitions are in fact value reducing. Furthermore, the results show when stock is used to finance the acquisitions, the announcement has a more positive impact on the stock development in contrast to when cash is used. Regarding cross-border versus domestic acquisitions, cross-border acquisitions have a more positive impact on stock development.

The thesis is aimed to propose a financial innovation called COCONUT payment system. This innovative payment system is based on a combination of the cash and electronic money, presented as an ATM-like machine for purchase and payment execution, and operated via an electronic account, which allows its users to operate as a credit cards owner. This study commences with a review of the current major payment systems in the United States, followed by an analysis of the strength and weakness of these systems, and then proposes a payment system that combines the most popular two: cash and credit card with a healthier mechanism on financial control to both avoid the recurrence of financial crisis caused by credit crush and keep the current benefits. The COCOCNUT system can be applied not onbly to the market of the USA, but BRIC, developing and under seveloped countries’ market, those regions where cash remains the major payment way. As for the feasibility and the probability of promoting and applying this new system to replace the current systems or to implement in the new markets, the proposed COCONUT payment system, takes into consideration the differences of markets and regional regulations. The COCONUT project also provides trial calculations of its value proposition from the perspective of the project realization.

Background: Electronic commerce has recently been seen as a very auspicious service of technology witnessed in the last decade. Several types of e-commerce initiatives include very modernized and upgraded facilities such as smart cards, online retailing, and remote payments that help make the payment process faster and more consistent. Therefore, there is a need to explore the factors from payment methods that influence a change in the purchasing behavior of a customer, due to the fact that constant development in technology is occurring. Furthermore, due to the ability to access and control digital technology, millennials are believed to be destined for a current business and have a significant impact on the corporate world. Therefore, this thesis contributes to the research on the effect of payment methods on millennials’ purchase behavior by exploring millennials in the context of clothing e-commerce in Sweden.   Purpose: The purpose of the thesis is to understand how electronic payment methods influence purchase behavior of millennials in Sweden in the clothing e-commerce.    Method: The study follows interpretivism philosophy due to integrating human interest and meaning. For a more in-depth understanding, the research used qualitative methods by conducting individual in-depth semi-structured interviews. The data was collected by fifteen millennials in Sweden and analyzed within the thematic analysis.   Conclusion: The results show that payment methods tend to influence millennials in Sweden differently depending on several factors such as trust, ease of use, and time consumption. The findings showed that the easier it is to use the payment method, the faster and smoother it is for millennials to complete the purchase. Moreover, when the website is organized and well-designed, there is a higher demand for purchasing from it, which leads to trust in the website and the operated payment methods in it to a higher extent. Hence, establishing the trust and credibility of the selected payment method was one of the essential points of the purchasing process. Additionally, certainty, reliability, and suspiciousness were highly taken into consideration when purchasing products from countries other than Sweden, as their operating payment methods vary significantly.

This dissertation consists of three studies on the anticipation of mergers and acquisitions (M&amp;As) and its impact on takeover event studies.  Article I investigates whether the market can anticipate both takeovers and their payment forms prior to their announcement dates. This article also proposes a new time-series approach for detecting the ex-ante deal-anticipation and payment-form anticipation dates. The results indicate that the majority of deals and their payment forms are anticipated much earlier than has been documented in previous takeover studies. Moreover, controlling for the anticipation dates matters for explaining the choice of payment method in M&amp;As. Article II studies how assuming that M&amp;As are unpredictable during the estimation window affects the measurement of abnormal returns. The results show that a part of takeover synergy is indeed incorporated into the stock prices during the estimation window of previous studies, around the deal-anticipation dates. This article estimates the parameters of the expected return model from the pre-anticipation period to control the consequences of ex-ante anticipation on the estimates of abnormal returns. Using the anticipation-adjusted approach significantly improves the estimation of the event-window abnormal returns, and provides new insights into some well-documented takeover results. Article III examines how the abnormal returns are affected when a standard event study assumes that the parameters of the expected return model are stable. Using a sample of firm takeovers, the results indicate that the parameters are indeed unstable. This article introduces a time-varying market model to account for the dynamics of merging likelihood when it estimates the abnormal returns. The findings show that the stability assumption causes a standard event study to overestimate significantly the abnormal returns to the target and acquirer shareholders. / <p>At the time of the doctoral defense, the following papers were unpublished and had a status as follows: Paper 1: Manuscript. Paper 2: Manuscript. Paper 3: Manuscript.</p>

Objectives. The objective of this project was to ascertain and quantify the effects of gender, age, payment method, and practice size on clinical output of GP/FPs. While the identification of these effects has been undertaken previously, this study is the first attempt to quantify the proportion of variance in physician output explained by this group of variables.<p>Background. The question is of vital importance to academics, health professionals, and citizens. The physician population is aging and feminizing while physicians are softening their opposition to fixed remuneration methods and displaying a greater predilection to group practice. Implications exist for the supply of physician services as gender, age, payment method, and practice size have been found to influence physician output, and therefore the availability of primary care services. <p>Methods. The study employed self-reported data obtained from 1006 Canadian general and family practitioners in 2004. Respondents provided their gender, age, payment method, and practice size, as well as the number of patient visits they conducted (both during regular hours and while on call) and the number of hours they worked in an average week. These data were used to measure the effects of the four independent variables on GP/FP output and to quantify their total collective affect. <p>Results. By and large, the analysis confirmed the prevailing view of the literature, as female physicians; physicians in the youngest and oldest age categories; physicians remunerated mainly through fixed payment methods; and physicians in group practice reported lower levels of output than their counterparts. Despite the presence of obvious trends in the data, in some cases the analysis was unable to uncover statistically significant differences in output between groups of physicians.<p>In terms of the contribution made by these four variables to the variance in GP/FP output, significant and parsimonious models contributed 16.2% of the variance in total patient visits, 19.3% of the variance in patient visits during regular hours, 2.5% of the variance in patient visits while on call, 11.1% of variance in hours worked per week, and 8.9% of the variance in patient visits per hour worked. <p>Conclusion. The four factor variables explained less than one fifth of the variance in all output categories. This first attempt to quantify their contribution identifies an important question: what accounts for the remaining variance? If the unidentified factors are measurable, perhaps they can be added to these models in the future in order to increase our understanding of the forces behind GP/FP output of primary care services.

Objectives. The objective of this project was to ascertain and quantify the effects of gender, age, payment method, and practice size on clinical output of GP/FPs. While the identification of these effects has been undertaken previously, this study is the first attempt to quantify the proportion of variance in physician output explained by this group of variables.<p>Background. The question is of vital importance to academics, health professionals, and citizens. The physician population is aging and feminizing while physicians are softening their opposition to fixed remuneration methods and displaying a greater predilection to group practice. Implications exist for the supply of physician services as gender, age, payment method, and practice size have been found to influence physician output, and therefore the availability of primary care services. <p>Methods. The study employed self-reported data obtained from 1006 Canadian general and family practitioners in 2004. Respondents provided their gender, age, payment method, and practice size, as well as the number of patient visits they conducted (both during regular hours and while on call) and the number of hours they worked in an average week. These data were used to measure the effects of the four independent variables on GP/FP output and to quantify their total collective affect. <p>Results. By and large, the analysis confirmed the prevailing view of the literature, as female physicians; physicians in the youngest and oldest age categories; physicians remunerated mainly through fixed payment methods; and physicians in group practice reported lower levels of output than their counterparts. Despite the presence of obvious trends in the data, in some cases the analysis was unable to uncover statistically significant differences in output between groups of physicians.<p>In terms of the contribution made by these four variables to the variance in GP/FP output, significant and parsimonious models contributed 16.2% of the variance in total patient visits, 19.3% of the variance in patient visits during regular hours, 2.5% of the variance in patient visits while on call, 11.1% of variance in hours worked per week, and 8.9% of the variance in patient visits per hour worked. <p>Conclusion. The four factor variables explained less than one fifth of the variance in all output categories. This first attempt to quantify their contribution identifies an important question: what accounts for the remaining variance? If the unidentified factors are measurable, perhaps they can be added to these models in the future in order to increase our understanding of the forces behind GP/FP output of primary care services.