頁籤選單縮合
題 名 | The Effect of Information Technology Investments on the Market Value of Supply Chain Firms: An Improved Event Study Approach |
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作 者 | Cheng, Jao-hong; Lee, Chen-yu; | 書刊名 | Asia Pacific Management Review |
卷 期 | 13:1 2008.03[民97.03] |
頁 次 | 頁435-444 |
分類號 | 494.542 |
關鍵詞 | Information technology investments; Event study; Iterated cumulative sums of squares; Supply chains; |
語 文 | 英文(English) |
英文摘要 | Information technology (IT) plays a critical role in obtaining the competitive advantage and sustainable development in managing supply chain activities. Evaluating the effect of IT investments on business value has always been a great concern of information systems researchers as well as enterprises. Financial theory suggests that the market value of firms will be reflected on the stock price in response to IT investment announcements. Therefore, this study employs an event study method typically used by financial researchers to estimate the effect of a specific event. In the conventional event study, subjectively setting an event window would probably lead to measurement biases. To overcome this shortcoming, instead of being set subjectively the event window in our study is measured by using the iterated cumulative sum of squires algorithm for detecting sudden changes in the variance of returns and how long the shift lasts. The sensitive analysis of cumulative average abnormal returns and how long the shift lasts (CAAR) under different levels of information missing risks demonstrates that the measure of an event window will influence the CAAR on the significant level and positive/negative direction. |
本系統中英文摘要資訊取自各篇刊載內容。