Gudelytė-Žilinskienė, Laura

The new ICT paradigm, mobile communication, social media, Internet of Things and cloud computing, increasingly put the end user at the center of innovation processes, thus shifting the emphasis from technologies to people. The success stories of services such as Google, Wikipedia, and Facebook rely on their users to create value with Internet 2.0 tools. In the private sector, the paradigm has been conceptualized under Service Dominant Logic (SDL) and Open Innovation 2.0 approaches where the focus of co-creation is the value created for and by the users. The public sector implemented the change through the New Public Governance and Open Government initiatives, which suggest that the public value no longer needs to be created by the governments alone, but could be generated in collaboration between the public entities, private sector, civil society organizations or citizens (Quadruple Helix model). The co-creation concept fundamentally differs from traditional public engagement approach, while it focuses on the collective influence and responsibility of all stakeholders by creating the public good. The „bottom up“ co-creation processes in digital enabled urban communities are important enablers for implementing the smart and inclusive society vision. The modern communities not only involve the citizens into process of public value creation, but also influence the emergence and development of collective intelligence in the society. While traditional approaches to public engagement and governmental reforms remain relevant, this article focuses towards the growing potential of networked urban communities to solve their social problems. It expands co-creation field and provides theoretical framework for public spaces with a communitywide participation making use of creative, innovative and cooperative applications of ICT. The sample size for a web-based monitoring consist of 10 online urban communities in Lithuania, identified by the pilot research. The communities will be investigated as collective intelligence systems, which integrate all criteria inherent for such kind of systems (openness, dynamism, decentralisation, critical mass for “swarm effect”, etc.). The research results explain how different technological, organisational and other social factors influence on the quality of co-creation results.

Purpose of this paper is to investigate how can be measured the potential of collective intelligence formed by social technologies and what is missing for so far created collective intelligence measuring systems that can lead to public concerns to success. We founded that the evaluation indicators system of collective intelligence although quite detailly describes its development and is generally interpreted, has considerable drawbacks. On the other hand, the guidelines that could develop evaluation system of collective intelligence are defined. Despite the fact that the indices correspond to the major potential of collective intelligence assessment components certain parameters that need to be evaluated remain. In addition, the data on which the calculations are made, and that defines the index value has a significant impact on the development of the evaluation system of collective intelligence. Analysis of the measues of collective intelligence presented in this article can be seen only as a synoptic requiring more study. In order to determine the circumstances that led up to now create assessment system of the structures and properties of the individual indicators of collective intelligence, more research is needed. But the analysis of main properties, necessary for theoretical basis for these investigations, is presented in this article. On the other hand, due to the lack of the objective data - empirical results it is difficult to justify some of the assumptions made by analyzing the performance of collective intelligence potential indicators. In such cases our research is based on analogous reasoning applied to other areas of measurement systems. This article may be useful for further development of evaluation systems of collective intelligence. It sets out the basic guidelines which could be basis for development of of evaluation indicators system of collective intelligence in the future.

This article aims to determine and analyse the main approaches of evaluation of cluster or group performance under information asymmetry within cluster. It is assumed that one of the most relevant causes of information asymmetry inside the business clusters are the different interests of its stakeholders and their willingness to dominate. This paper contributes to the further analysis, development and generalisation of evaluation approach of cluster performance and of the impact of information asymmetry on the activities of business clusters. Purpose – is to investigate the impact of information asymmetry on the evaluation on performance of business clusters and the methods and approaches of evaluation of performance with regard to information asymmetry. Design/methodology/approach – general overview of research papers presenting concepts and methodologies of evaluation of performance with regard to information asymmetry. Findings – information asymmetry has a significant impact on the performance of business clusters, and can be the decisive factor in the viability of a cluster. The members of cluster can be seem as subjects willing to dominate in cluster and to gain a relatively more portion of profit of clusters, some conflicts of interests can appear. However, there is no universal approach for evaluation of the impact of information asymmetry on cluster or group efficiency. This paper aims to highlight the main types of information asymmetry and respective approaches of evaluation analysed by the researchers. Research limitations/implications – the complexity and nature of information that can be used in the process of creation of innovation. The strong assumptions on information asymmetry from one side and the lack of advanced investigation focussed on the evaluation of business clusters performance efficiency under information asymmetry from other side are the most relevant limitations of research. Therefore the conclusions are focussed only on the conceptual level and analysis of possible further steps in creation of respective methods or models. Practical implications – information asymmetry has a significant impact on the activities and performance of business clusters, and can be the decisive factor for a viability of a cluster and creation of innovations. This study will contribute to the further development and generalisation of evaluation approach of cluster performance and of the impact of information asymmetry on the activities of business clusters. Originality/Value – This case in terms of business cluster performance and creation of innovations is not exhaustively analysed by other researchers. This paper is one of the first attempts to describe and make an assessment of the evaluation of clusters with financial contagion in the Baltic States. The findings of this article should ground the further steps of the creation of evaluation of performance efficiency under information asymmetry.

The findings of this article should ground the macro-prudential policy in the small countries of supervising institutions focussing on the external factors. Practical implications – identification of the channels of external and internal negative shocks to the banking sector of the Baltic States; useful not only for the banking executives providing business trends and officers of supervising institutions that should use not only Basel III requirements, identifying potential sources of risk in the near future, but for the rest part of the society, both ordinary citizens and entrepreneurs having current accounts and deposits in banks. Originality/Value – modelling of systemic risk and analysis of instability causes of the banking sector by applying reliable quantitative methods in Lithuania is insufficiently developed and is impossible without knowing the mechanisms of transitions of external and internal shocks on banking sector. Researchers have provided an exhaustive analysis of contagion and channels of contagion in global extent or in another cases and regions. The banking sectors of the Baltic States are essentially controlled by the same foreign banking groups and the liquidity problems faced by international financial groups could therefore spill over into the other banks in the Baltic States. This case is not exhaustively analysed by other researchers. This paper is one of the first attempts to describe and make a quantitative assessment of the financial contagion in the Baltic States. Large dependence of the banking institutions in the Baltic States on their investors means not only the simple attraction of capital flow but additional risk that can arise due to the lack of liquidity or panics of patronising financial institutions. The findings of this article should ground macro-prudential policy focussing on the external factors.