An examination of the long-term business value of investments in information technology

被引：22
|
作者：
Shea, Vincent J., II [1 ]
Dow, Kevin E. [2 ]
Chong, Alain Yee-Loong [2 ]
Ngai, Eric W. T. [3 ]
机构：
[1] St Johns Univ, New York, NY USA
[2] Univ Nottingham, Nottingham Univ Business Sch China, Ningbo, Zhejiang, Peoples R China
[3] Hong Kong Polytech Univ, Dept Management & Mkt, Kowloon, Hong Kong, Peoples R China
来源：
INFORMATION SYSTEMS FRONTIERS | 2019年 / 21卷 / 01期
基金：
美国国家科学基金会;
关键词：
IT investments; Regression discontinuity design; Event study; Business value; REGRESSION-DISCONTINUITY DESIGN; FIRM PERFORMANCE; MARKET VALUE; INSTITUTIONAL INVESTORS; SHAREHOLDER-WEALTH; ANNOUNCEMENTS; IMPACT; RETURNS; PARADOX; SYSTEMS;
D O I：
10.1007/s10796-017-9735-5
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
In this paper, we examine the effects of investments in Information Technology (IT) on the long term business values of organizations. The regression discontinuity design is used in this research to examine eight hundred and ten IT investment announcements collected from the period 1982-2007. Our results found that press releases can affect the market value of a firm by possibly providing investors with a better idea of a firm's current and future operations and strategy. On the other hand, these press releases also appear to attract more transient investors. The attraction of transient investors likely suggests the market believes the IT investing firm is serious about its potential for growth and expansion.
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页码：213 / 227
页数：15
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