VE IVS RI TI TAS TIA ISSN 1822-8011 (prin) ISSN 1822-8038 (online) INTELEKTINĖ EKONOMIKA INTELLECTUAL ECONOMICS 2011, No. 1(9), p. 7 22 THE APPLICATION OF E-COMMERCE TECHNOLOGIES IN THE DEVELOPMENT OF INTERNATIONAL TRADE Vilnius Gediminas Technical Universiy, LT-10223 Vilnius, Saulėekio al. 11, E-mail: aurelija.burinskiene@vgu.l Absrac. The aricle discloses he applicaion of e-commerce echnologies for he developmen of inernaional rade. In his paper, he problems associaed wih he applicaion of e-commerce echnologies in inernaional rade are analysed. I is idenified ha enerprises involved in inernaional rade are using e-commerce echnologies for selling producs in differen markes which, based on heir openness, are closed and open. The analysis of he benefis and invesmens is provided herein. By using he sudy resuls, he cash-flow model, which can be applied o evaluae efficiency when e-commerce echnologies are used for he developmen of inernaional rade, is formulaed. The assessmen of pracical applicaion of proposed cash-flow model is presened in he paper herein. JEL classificaion: L81, D61, P33. Keywords: e-commerce, inernaional rade, efficiency, benefi, muli-period invesmens. Reikšminiai žodžiai: e. komercija, arpauinė prekyba, ekonominis efekyvumas, ekonominė nauda, daugkarinės invesicijos. 1. Inroducion A huge dynamism is characerisic o inernaional rade: i undergoes muliple and rapid aleraions, herefore one needs o reac single-mindedly o new challenges and ackle more complicaed problems. For he pas several decades, by developing inernaional rade, he possibiliies o increase efficiency have been re-examined. Since he developmen level of informaion echnologies is growing, he needs are perceived in a new way, which appear in he pracice of e-commerce. Apparenly, he imporances of e-commerce echnologies in he developmen of inernaional rade is immense and has a endency o grow: under modern globalisaion circumsances, he applicaion of informaion and elecommunicaion echnologies has become a crucial facor of developmen in boh inernaional rade and economy in general. There are several ways o develop inernaional rade by applying e-commerce echnologies:
8 - An Inerne shop. The consumer can visi he e-shop and choose an iem from a wide range of goods; - A producer on he Inerne. Consumers can easily find, choose and even make a purchase-sale deal wih a direc producer online. This encourages more and more consumers o buy goods direcly; - Trade wih he help of an e-nework. More and more permanen business parners use e-neworks o receive orders, ransfer he documens of paymen and ranspor. Daa received via e-neworks are inegraed ino he informaion sysems of enerprises. E-commerce is disinguishable because of cerain peculiariies: a cusomer can ge purchases in any counry worldwide; expendiure of rade ransacions, when e- commerce echnologies are used, are usually lower han expendiure of radiional rade ransacions due o he fac ha coss of operaions are lower; however, here is a growh of expendiure which appears as a resul of implemenaion and mainenance of e-commerce echnologies and goods delivery. The above-menioned peculiariies deermine ha e-commerce is usually more efficien han common rade forms. Therefore, here is a demand o creae and use in inernaional rade such insrumenaion for he evaluaion of efficiency concerning he usage of e-commerce echnologies ha would be used o idenify reasonably hose cases when he radiional echnologies of inernaional rade are worh changing ino e-commerce echnologies and when e-commerce can help o increase he amouns of inernaional rade. Decisions, which are oriened o efficiency of inernaional rade and he increase of pracice compeiion of various economy subjecs in inernaional rade, usually exploi he opporuniies provided by e-commerce echnologies. In his paper, he complex applicaion of e-commerce echnologies in inernaional rade are examined, and a model, which can be applied o evaluae efficiency when e-commerce echnologies are used in inernaional rade, is formulaed, while empirical assessmen, which shows ha a formulaed heoreical model can be applied, is underaken. The mehods of comparaive, saisical, and financial analysis have been mainly applied in he paper. 2. E-commerce concepion and is refecion in scienific works E-commerce is he purchase and sale of goods and services by using e-neworks (open 1 and close 2 e-neworks) (Bidgoli, 2004). E-commerce is an aciviy when e- 1 Open e-nework is a public nework and global nework. I provides an opporuniy o look for necessary informaion. The mos open nework is he Inerne (Paliulis e al., 2003). For example, exernal consumers can use he Inerne o log on he websie of an e-shop and choose desirable iems from a wide assormen. 2 Close e-neworks are privae neworks. Such neworks are allocaed o business, enerprises. They allow joining companies which are in differen geographical regions and esablishing a direc relaionship beween an enerprise and is parners. Close e-nework is for informaion exchange which is carried ou via special neworks among business represenaives or a specific enerprise branches. For his
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 9 neworks are used in order o reach cusomers, sell goods, services and pay for hem. Such pracice is also relaed o adverising, purchase delivery, ec. (Bergendahl, 2005). Talking abou e-commerce, M. Khosrowpour (2006) and oher auhors use he erm e-commerce echnologies ; hese echnologies are used during rade ransacions. Enerprises expec ha expendiure of iem sale on he Inerne is lower han expendiure, which a company incurs selling goods radiionally. Moreover, hey hink ha sale on he Inerne is deermined by price, qualiy and delivery condiions. According o K. L. Kraemer s daa (2006), enerprises which sell iems on he Inerne increase heir income, improve clien service, reduce expendiure and reach a higher efficiency level. E-commerce can be based on wo major business models: - Business model business o business ; - Business model business o consumer (Davidavičienė e al., 2009). Business o business ofen means ransacions among companies. Several more enerprises rade on he basis of such a model. This has been he mos common e-commerce model in he whole world since e-commerce echnologies appeared (Kvainauskaiė e al., 2005). The business model business o business also reflecs he form of wholesale when goods are ordered online. Due o his, one should also have he cusomers daabase, where informaion abou discouns for each cusomer is preserved. The business model business o consumer comprises ransacions among sellers and final consumers. Enerprises, which use echnologies business o consumer, make many effors o arac as many cusomers as possible (Jovarauskienė e al., 2009). The mos imporan form of such a model is e-shop (Davidavičienė e al., 2009). The model usually reflecs he form of reail when goods are ordered online. The bigges par of ransacions, applying e-commerce echnologies, makes business o business ransacions i.e. in beween business ransacions (ransacions among legal persons); hey are made on he Inerne or via oher e-neworks. Sociey beer knows business o consumer echnologies (Becker, 2007). The main peculiariy of he business model business o consumer is o provide a presen and poenial cusomer wih all available informaion abou goods, offer online order, paymen and service (Barnes, 2007). In comparison o radiional rade, expendiure incurred by selling goods online can be bigger or smaller. Smaller aciviy expendiure can be deermined by formaion of a cusomer's made orders (Khosrowpour, 2006); smaller rade expendiure and relaions wih oher business sysems. Enerprises, applying e-commerce echnologies, can spend less money on adverisemen and exposiion equipmen. Bigger aciviy expendiure can be deermined by iem delivery, esablishmen and mainereason, i can be used he echnology of inended lines, allowing o join differen e-neworks and o deliver daa (ITU, 2005).
10 nance of e-shop. The choice of iem prices by e-shop can mach he prices of a radiional shop (Khosrowpour, 2006), and delivery price can cover iem delivery coss. E-commerce provides more opporuniies o conduc ransacions and encourage he developmen of new forms of inernaional rade. M. A. Hi (2002) hinks ha he main reasons encouraging enerprises o develop e-commerce are exra income, smaller adminisraion expendiure, higher aciviy efficiency and beer financial resuls. Implemenaion of e-commerce echnologies gives many new opporuniies. However, enerprises have o accep new challenges of inernaional rade and make appropriae decisions. This means ha he usage of e-commerce echnologies is he main facor, deermining he perspecives of inernaional rade developmen. 3. The concep of inernaional rade and is refecion in lieraure Inernaional rade is a broad erm and is defined differenly in differen sources. Inernaional rade by World Trade Organizaion (WTO) is defined as he flow of goods, carriage of goods wihin he erriorial borders. The Unied Naions Organizaion (UNO) defines inernaional rade as he inernaional sale of goods. In he documens of Organizaion of Economic Cooperaion and Developmen (OECD), inernaional rade is defined as impor and expor aciviies and heir resuls are measured by value of goods, provided o oher persons, and he value of goods received from foreign eniies s hinerland. The survey of lieraure, which is published by leading world publishers (such as Oxford Universiy Press, Cambridge Universiy Press, Harvard Universiy Press, Springer, M. E. Sharpe, Rouledge, ec.), shows ha here are only 6.1% of all scienific works (in oal) on he opic of he applicaion of e-commerce in inernaional rade (able 1). Table 1. Scienific lieraure on he opic of e-commerce in inernaional rade E-commerce is researched in he Years Lieraure dedicaed o inernaional rade lieraure, which is dedicaed o inernaional rade 1976-1980 1562 4 1981-1985 2001 3 1986-1990 2823 12 1991-1995 3568 18 1996-2000 2148 353 2001-2005 2139 436 2006-2010 1174 108 Toal 15415 934 % 100% 6,1% The conclusion has been drawn ha here is a lack of works in scienific lieraure abou he applicaion of e-commerce in inernaional rade.
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 11 The successful and purposeful developmen of inernaional rade has o be based on such scienific knowledge of circumsances and such scienifically-proved soluions. Soluions, which are oriened o efficiency of inernaional rade and he increase of pracice compeiion of various economy subjecs in inernaional rade, usually exploi in one or anoher way he opporuniies provided by e-commerce echnologies. The inadequae and inappropriae usage of e-commerce echnologies affecs developmen of inernaional rade. The developmen of insrumenaion ha allows evaluaing he perspecives and opporuniies of he applicaion of e-commerce echnologies is an imporan precondiion in he developmen of inernaional rade. 4. Models, which can be applied for he evaluaion of efficiency when e-commerce echnologies are used in he developmen of inernaional rade Efficiency is an index allocaed o measure he qualiaive and quaniaive resuls of economic pracice and i is associaed wih resources, which are used o achieve he above-menioned resuls. Economic efficiency is of wo sizes: economic effec and combinaion of resource usage (or in oher words a relaion beween resuls and expendiure). Efficiency of usage of e-commerce echnologies in rade can be evaluaed by several ways: as a real efficiency and as an expeced efficiency. In order o ouline a real efficiency, indexes, indicaing efficiency of used echnologies in real ime, are analysed. An expeced efficiency is idenified in such cases when i is necessary o evaluae he benefi of e-commerce echnologies, which are inended o be applied. In order o ouline an expeced efficiency, hisoric daa and predicions based on informaion which reflecs oher enerprises experience are used. These predicions are used o assess or increase he efficiency of usage of e-commerce echnologies. One of he ways o evaluae an expeced efficiency is o evaluae he invesmen (expendiure) and benefi (income increase, expendiure decrease) of subjecs ha work or inend o work in rade. The works of MacGregor e al. (2005) and Anandarajan e al. (1999) analyse he quesion of invesmen in e-commerce echnologies. The auhors sae ha invesmen in e-commerce echnologies is long-erm. Talking abou invesmen, he auhors classify i as primary (purchase and implemenaion of echnology) and coninual (developmen of e-commerce echnologies). Various mehods o evaluae efficiency, including models based on analysis logic of benefi-cos are used (Fig. 1). The imporance of echnological implemenaion is emphasized in hese models. Such models are inended for assessing cos and resuls of echnological developmen in he long run. In pracice hese models are used for making decisions abou invesmen. An example of such a model can be G. Bergendahl s model (2005) designed o measure he usage benefi of e-commerce echnologies, which an enerprise experience from ime perspecive. In G. Bergendahl s model (2005) he exen and growh of sale are considered as he main facors, deermining profiabiliy of invesmen in e-commerce echnolo-
12 gies. Therefore, here is a need o assess sale exen from ime perspecive. I is considered ha income from invesmen is received immediaely afer he end of invesmen process. In he course of ime, ( I ) sale exen increases (1 formula). I = I0 ( 1 q ), (1) + Here I is during he period accumulaed sale exen, I 0 is exising sale exen, q is accumulaion sandard, is period. On one hand, sale exen ( I ) can grow gradually ( q ), on he oher hand i can increase unevenly. Bergendahl (2005) noices ha adverisemen cos has influence on increasing sale exen, i.e. he bigger adverisemen coss are, he faser growh of sale exen becomes. In G. Bergendahl s model (2005) (Fig. 1) invesmen in e-commerce echnologies as well as funds, which an enerprise gives for adverisemen of an e-shop, echnological mainenance and iem sale, are assessed. Firsly, an enerprise invess in e-commerce echnologies. The price of hese echnologies depends on heir flexibiliy, funcionalism, possible number of cusomers and goods. In his case i is discussed abou oneime invesmen in echnological equipmen (server, suppor infrasrucure) and sofware program (websie of an e- shop, exrane, an e-caalogue of goods, and echnologies guaraneeing safe paymen, ec.). Secondly, an enerprise spends a cerain amoun of money on adverisemen. G. Bergendahl (2005) found ha a company, which engaged in an aciviy and realised is goods in a radiional way before, spen less for adverisemen han he enerprise which was no engaged in any aciviy. I is saed ha one needs o give more money for adverisemen unil a criical mass of cusomers is achieved. Thirdly, enerprises, which sell goods online, experience approximaely 15% smaller expendiure han hose, which sell goods radiionally (Bergendahl, 2005). In he enerprise, which has jus invesed in e-commerce, sale expendiure can be bigger, bu i can change (decrease) wih he ime. While sale expendiure (i.e. average common sale expendiure) decreases, here is a moneary reurn, which forms an appropriae economy of aciviy expendiure. A well organized iem sale via e-neworks can mean exra sale income since such aciviy expendiure (coss) decreases in he course of ime. G. Bergendahl (2005) also noices ha addiional benefi can be creaed when income increases and expendiure decreases. Therefore, in order o esablish a echnological appliance benefi G. Bergendahl (2005) offers o discoun (discoun is a way of calculaing fuure money on he basis of presen worh) savings of aciviy expendiure and ne income. Calculaing ne income G. Bergendahl (2005) subracs funds from income which are given for he mainenance of e-commerce echnologies and iem foreign sale.
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 13 Fig. 1. The model of cash flows generaed by invesmens ino e-commerce echnologies (Bergendahl, 2005) Afer summarising he model proposed by G. Bergandahl (2005), he conclusion can be drawn ha, he model can be applied o evaluae efficiency when e-commerce echnologies are business o business and business o consumer, when inernaional rade ransacions are conduced in open-marke (via inerne) and when invesmens ino e-commerce is one-off. Afer he lieraure review i has been clarified ha auhors, which consider efficiency of he applicaion of e-commerce echnologies, also examine he evaluaion of efficiency, when: - E-commerce echnologies are applied in open-marke, are analysed by Bergendahl (2005), Cullen e al. (2007), Goschalk e al. (2002), Kao e al. (2003), Sockdale e al. (2004); - E-commerce echnologies are applied in close-marke, (via close e-neworks) are analysed by Cullen e al. (2007), Hsieh e al. (2004), Jun e al. (2003); - E-commerce echnologies of business o business are applied, are analysed by Baršauskas e al. (2008), Bergendahl (2005), Cullen e al. (2009), Power (2005); - E-commerce echnologies of business o consumer are applied, are analysed by Bergendahl (2005), Cao e al. (2001), Fink (2006). The auhors focus on business o business quesions, issues when inernaional rade is conduced in open-marke and quesions, which are relaed wih minimisaion of coss. The auhors menion ha invesmens in e-commerce echnology can be he iniial and follow-up. I is noed ha in he lieraure, which is dedicaed o efficiency of he applicaion of e-commerce echnologies, some opics and issues are discussed, which are no covered by he G. Bergendahl (2005) model. I is efficiency of he applicaion of e- commerce echnologies when rade is conduced in open-marke and when invesmens ino e-commerce echnologies are follow-up.
14 The conclusion is drawn ha i is necessiy o prepare heoreical model, which can involve he ideas of he auhors menioned above and can be applied o evaluae efficiency when invesmens ino e-commerce is one-off and manifold, when he echnologies of business o business and business o consumer are applied, when rade is conduced in open-marke and close-marke. 5. The comparison of enerprises involved in rade I has been revealed ha he inernaional rade urnover of enerprises of producion and rade amouns o 82% of inernaional rade (Burinskienė, 2010). The analyse of pracice of menioned enerprises shows ha producion enerprises are more acive by selling goods in inernaional markes han rade ones; ha he aciviy of producion enerprises is imporan o assess opporuniies in he developmen of inernaional rade. The pracice of enerprises has been examined. The resuls of such sudy show ha enerprises passively apply e-commerce echnologies in he developmen of inernaional rade. I has been esablished ha producion companies are more acive by doing rade in foreign counries, rade companies by applying e-commerce echnologies in naional counry. Research shows ha in order o acivae he applicaion of e-commerce echnologies in inernaional rade i is necessary o inves ino e- commerce echnologies in an inegraed way. The comparison of US enerprises which pracice e-commerce (Amazon.com and ohers) and US enerprises which are engaged in rade is also presened. By using comparaive, saisical analysis he comparison of enerprises is performed. On he basis of enerprises here are highlighed key cases devoed o he usage of e- commerce echnologies in enerprises. I is necessary o consider ha companies which engage in radiional rade can also apply and e-commerce echnologies, bu as here is a problem o obain more horough daa, while comparing more common daa o describe he above menioned enerprises is used (noe: assessing research resuls i is imporan o remember ha in producion enerprises 32%, in wholesale enerprises 19.2% of all sale income makes sale income when goods are ordered, using e-commerce echnologies (i is esimaed by he auhor on he basis of US Census Bureau (2009) daa). This research is carried ou so as o reveal he usage impac of e-commerce echnologies and o emphasize essenial expendiure differences. During research he daa of he US saisics is used. This daa is colleced by processing he maerial provided by he US insiuions and he informaion colleced by inerviewing enerprises. Assessing daa reliabiliy, i is considered ha rying o guaranee reliabiliy of 95% survey informaion, 4% of permissible inaccuracy should be applied (US Census Bureau, 2009). Afer calculaions, i was observed ha he, cos srucure of enerprises engaged in e-commerce is differen han in radiional rade enerprises. In paricular, enerprises involved in e-commerce employees fewer employees han radiional rade enerprises (able 2).
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 15 Table 2. The comparison of he need of employees in enerprises, which are involved in rade Enerprises which are involved Annual sales, mln. Eur The number of employees involved in rade Sales uni (1 mln. Eur) earned by one employee In producion (sales branches and offices) (328500 esablishmens) 1123825 4032780 0,28 In radiional wholesale rade (agens and brokers are no included) (130278 enerprises) 519961 1302115 0,40 In radiional reail rade (639601 enerprises) 925596 7659211 0,12 In radiional rade 2569382 12994106 0,20 In elecronic commerce mainly (14017 enerprises) 56617 126966 0,45 In elecronic commerce mainly (Amazon.com) 13322 20700 0,64 In elecronic commerce mainly (11 enerprises) 7919 14658 0,54 I is noed ha he overall enerprises engaged in e-commerce (when he number of employees aribuable o sales uni is compared) have 2.25 imes more sales per employee (able 1 (he index for enerprises engaged in radiional rade is equal o 0.20 and for enerprises engaged in e-commerce index 0.45, i.e. afer comparison of wo indexes we ge 2.25)). I was also found ha in 2000-2009 Amazon.com oal sales increased by 8.9 imes, in he same period he number of employees increased by 2.7 imes. 6. Modelling invesmens ino e-commerce When business invesmens ino e-commerce are modelled, he dicouned cashflow mehod is used. The mehod includes he following four elemens: he cash-flow elemen, elemen of he real or expeced period, he coninuiy and coninuous assessmen of invesmens elemen and he elemen of discoun norm, allowing he inclusion of he risk premium, which is used o calculae he presen value of money. The cash flow is defined as incomes and oucomes of cash and cash equivalens incurred during he period in he company due o specific is invesmen (Mackevičius e al., 2006). The advanage of he mehod: The discouned cash-flow mehod is based on he fac ha risk premium can be included ino he discoun norm. Alhough he mehod seems simple, difficulies arise when rying o jusify financially he size of he discoun norm, which is used during calculaions. The weakness of he mehod: In he process of discouning some facors such as inflaion changes, he eniy s solvency is no aken ino accoun. These facors may also influence he money a he curren value bu during he discouning process hey are no evaluaed. Modelling invesmens in e-commerce, G. Bergendahl s (2005) cash flow model is used. The main inpu of his model: invesmen in e-commerce echnologies; funds for markeing aciviies (branding, campaigns, oher aciviies relaed o expansion of cusomerbase); savings of aciviy coss; ne income. Esimaing he inpu of invesmen in e-commerce echnologies, one evaluaes funds given for purchasing sofware and echnological equipmen as well as guaraneeing a safe paymen.
16 While calculaing he savings of aciviy coss, he expendiure economy relaed o iem sale is assessed. In he enerprise, which has jus invesed in e-commerce, he above-menioned expendiure can be bigger, bu in he course of ime i can change (decrease). When expendiure (i.e. average common sale expendiure) decreases, is moneary reurn appears, forming relaive economy of aciviy expendiure. Referring o expendiure reurn, i is necessary o menion ha i can be seady or decreasing. In G. Bergendahl s model (2005) a seady expendiure reurn is highlighed. According o he aricle auhor s opinion, expendiure reurn should relae o income direcion, i.e. if income increases, i should also increase. For example, alking abou he economy of work pay fund, i is possible o sae ha: firsly, he economy of work pay fund is growing as income is growing; secondly, i is accumulaed a he end of he year. This is shown by he resuls of one research (when i is noiced ha in 2002 2007 sale exen in he US enerprises pracising e-commerce had grown up 3.4 imes and he number of employees had increased up o 2.5 imes [Burinskienė, 2010]). Calculaing he inpu of ne income, curren expendiure relaed o iem sale is subraced from sale income as well as expendiure, which economy subjecs mee, developing logisic decisions, and mainaining e-commerce echnologies. The auhor offers o expand his model and apply i no only for one-off bu also for manifold (coninual) invesmen cases. In addiion, he auhor offers a mahemaical expression of he model (2 formula). Besides he auhor suggess supplemen G. Bergendahl s model (2005) (given for enerprises pracising e-commerce) wih he inpu of new invesmen in logisics. Invesmen in logisics. There are wo cases: - Trade in open marke (using open e-neworks). The company, which engages in e-commerce, has o inves in logisics soluions for making small los. I should be noed ha if radiional rade enerprise plans o pursue his, (or even if i is already engaged in) i has o cusomize an exising produc disribuion sysem o new needs, which allows o inves less han for business ha sarups and needs a compleely new produc disribuion sysem. For example, a company ha decides o inves in e-commerce echnologies in order o sell he goods o end-cusomers would have o inves in logisics soluions for he formaion of smaller los (he company, which has more han 50 employees and which manually shapes iems in grea disribuion ceners, on average, should inves 3.6% of oal sales ino logisics soluions) (Burinskienė, 2010). - Trade in a closed marke (a pracice is carried ou only by sable business parners). I is noed ha enerprises, buying goods hrough elecronic or radiional neworks and enerprises who sell hem o buyers follow condiions which are provided in purchase-sale agreemen, which also means he place of delivery: - If goods are ransferred o he buyer s in buyer disribuion cenre and seller is obliged o pay impor axes, he produc purchase price is equal o he final purchase price;
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 17 - If goods are ransferred o seller's warehouse, he seller of goods is obliged only o load he vehicle and prepare documens hen he buyer mus cover he ransporaion coss (if necessary, and declaring coss, o pay impor duies). These coss are included in he coss of goods by he buyer and are considered a final purchase price. In order o deermine he benefi of echnological applicaion and evaluae is presen worh G. Bergendahl (2005) suggess discouning he savings of aciviy expendiure or ne income. The cash flow model is universal. This model can be applied when hisoric (real) and generaed (expeced) daa is analysed. The aricle auhor also provides he mahemaical expression of he model, which can be used for calculaing invesmen in e-commerce and efficiency: E T0 L0 R0 + NI = T0 L0 R0 + C 0, 0, kai NI n < NI n kai NI n = NI n ; ; (2) Here NI 0 is ne income earned during he period (when e-commerce echnologies are applied), presen worh of increase (assessed by applying 3 formula), NI n is ne income when e-commerce echnologies are no applied during n years (assessed by applying 1 formula), NI n is ne income when e-commerce echnologies are applied during n years, C 0 is aciviy expendiure received during he period (when e-commerce echnologies are applied), presen worh of decrease (assessed by applying 3 formula), T 0 is invesmen made during he period in e-commerce echnologies, presen worh, L 0 is invesmen made in logisics during he period, pre- sen worh, R 0 is funds given for adverisemen during he period, presen worh, is he whole analysed period, and he momen of invesmen beginning, E is economic efficiency of usage of e-commerce echnologies afer he period. The presen worh of he indicaed invesmen (if i is no one-off) is evaluaed by formula 3 (also see Fig. 2). In order o calculae he presen worh of ne income, one can refer o he following formula: NI NI = n 0 n= 1( 1+ k ) n, I is indicaed ha he index of economic efficiency shows how much accomplished invesmen is covered by discouned savings of aciviy expendiure and or/if ne income has been received. The auhor presumes ha cash flows which are generaed by goods seller s invesmen in e-commerce are posiive. However, he auhor refers o he fac ha in he case of a paricular goods seller he inpu of he model can be smaller as well as is size and direcion can change. (3)
18 Fig. 2. The model of cash flows generaed by invesmens in e-commerce (prepared by auhor) In summary, i can be menioned ha formulaed heoreical model (Fig. 2), can be applied o evaluae efficiency when e-commerce echnologies are used in rade: when invesmens ino e-commerce is one-off and manifold (he 2nd level), when a real and expeced period is used (he 4h level), when he risk is evaluaed (he 4h level) (in such way he risk premium will be included ino discoun norm), when rade is conduced in open-marke (via inerne) and close-marke (via closed e- neworks). Empirical assessmens for proposed model were underaken. For his purpose, Amazon.com daa was used. W. Keshong e al. (2007) compared enerprises which use e-commerce echnologies. The auhors found ha Amazon.com, applies business o business and business o consumer e-commerce echnologies. Enerprises which desire o rade wih sable business parners, Amazon.com provides he service of he daabase esablishmen and file sorage, he service of informaion inpu in various languages as well as order formaion and paymen confirmaion (Keshong e al., 2007). Enerprises using such services can give heir seady business parners he documens of purchase and sale (orders, invoices). One
The Applicaion of E-Commerce Technologies in he Developmen of Inernaional Trade 19 mus pay aenion o he fac ha Amazon.com sells neiher goods adverisemen nor delivery services o he enerprises which rade wih seady business parners. Furhermore, he meanings of he model parameers (in mln of US dollars) are provided in able 3. Table 3. Evaluaion of invesmens in e-commerce: Amazon.com case (The Wall Sree Journal, 2009) Invesmen in e-commerce and logisic echnologies involve funds, given for purchase of sofware and echnological equipmen. Sofware is purchased every wo years whereas echnological equipmen is purchased every hree years (based on he usage duraion of sofware and echnological equipmen). Calculaing he presen worh of invesmen, 10% discoun norm (k=0.1) is applied. Going ino deails abou he funds given for adverisemen, i is possible o sae ha his expendiure comprises he adverisemen of an e-shop, where Amazon.com sells goods o heir final cusomers, by e-mail, on he websies, ec. Underaken empirical assessmen has shown ha he formulaed heoreical model can be also applied o evaluae efficiency when invesmens ino e-commerce are manifold and when he echnologies are used by produc sellers (who sell hem o business parners) in close-markes. During empirical esimaion, i has been esablished ha a seller receives he bigges economic benefi due o income increase (approximaely 63%). 7. Conclussions The analysis of he applicaion feaures of e-commerce echnologies showed ha enerprises involved in e-commerce have 2.25 imes more sales per employee. I has been esablished ha generally in enerprises which apply e-commerce echnologies here are more sales han in radiional rade enerprises. In addiion enerprises can achieve subsanial changes in coss devoed o operaions of inernaional rade. For he acivaion of he usage of e-commerce echnologies in inernaional rade, i is appropriae o apply he proposed model which helps o evaluae efficiency when e-commerce echnologies are used by he sellers of goods, which a he same ime can be sable business parners. In he model various levels of economic evaluaion are released, he coss of implemenaion and he usage of e-commerce echnologies,
20 in paricular invesmens and he resuls reached by he deploymen of such echnologies have been analysed. Underaken empirical assessmen has shown ha formulaed heoreical model, can be applied o evaluae efficiency when invesmens ino e-commerce is one-off and manifold, when he echnologies of business o business and business o consumer are applied, when inernaional rade is conduced in open-marke and closemarke. The conduced empirical sudy of heoreical model has shown ha he offered model can be applied for he evaluaion of efficiency when e-commerce echnologies are used in inernaionall rade. During empirical esimaion, i has been esablished ha a seller receives he bigges economic benefi due o income increase (approximaely 63%). Lieraūra 1. Anandarajan, A.; Wen, H. Evaluaion of informaion echnology invesmen. Managemen Decision, 1999. 4(37): 329 37. 2. Bergendahl, G. Models for invesmen in e-commerce financial perspecives wih empirical evidence. Omega, 2005. 33: 363 376. doi: 10.1016/j.omega.2004.07.021. 3. Barnes, S. E-commerce and v-business digial enerprise in he weny-firs cenury. Buerworh-Heinemann, 2007. P. 351. 4. Baršauskas, P.; Šarapovas, T.; Cvilikas, A. The evaluaion of e-commerce impac on business efficiency. Balic Journal of Managemen, 2008. 1(3): 71 91. 5. Becker, A. E-commerce conceps, mehodologies, ools and applicaions. Idea Group Inc., 2007. P. 861. 6. Bidgoli, H. The Inerne encyclopedia. John Wiley and Sons, 2004. P. 261. 7. Burinskienė, A. Elekroninės komercijos echnologijų aikymas plėojan arpauinę prekybą: docoral disseraion [The applicaion of elecronic commerce echnologies in he developmen of inernaional rade]. 2010. P. 153. 8. Cao, M.; Zhang, Q.; Seydel, J. B2C e-commerce web sie qualiy: an empirical examinaion. Indusrial Managemen & Daa Sysems, 2005. 5(105): 645 661. 9. Cullen, A. J.; Margare, T. Criical success facors for B2B e-commerce use wihin he UK NHS pharmaceuical supply chain. Inernaional Journal of Operaions & Producion Managemen, 2009. 11(29): 1156 1185. 10. Cullen, A. J.; Webser, M. 2007. A model B2B e-commerce based on conneciviy and purpose, Inernaional Journal of Operaions & Producion Managemen 2(27): 205 225. 11. Davidavičienė, V.; Gaauis, R.; Paliulis, N.; Perauskas, R. Elekroninis verslas [Elecronic business]. Vilnius: Technika, 2009. P. 468. 12. Fink, D. Value decomposiion of e-commerce performance. Benchmarking: an Inernaional Journal, 2006. 1/2(13): 81 92. 13. Goschalk, P; Abrahamsen, A. F. Plans o uilize e-markeplaces: he case of B2B procuremen markes in Norway. Indusrial Managemen & Daa Sysems, 2002. 6(102): 325 331. 14. Hsieh, C.; Lin, B. Impac of sandardizaion on EDI in B2B developmen. Indusrial Managemen & Daa Sysems, 2004. 1(104): 68 77.
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22 Aurelija Burinskienė Dr.soc. sc., Lecurer a Vilnius Gediminas Technical Universiy, Lihuania; e-mail: Aurelija.Burinskiene@vgu.l. Her research is focused on inernaional rade, logisics, and e- commerce. Aurelija Burinskienė Vilniaus Gedimino echnikos universieo Tarpauinės ekonomikos ir vadybos kaedros lekorė, dr. Moksliniai ineresai: arpauinė prekyba, logisika, e. komercija.