A Reexamination of Event Study in IT Risk and Return: Evidence from SCM and CRM Announcements

摘要：

Measuring the impact of investment announcements on a firms stock performance has become an important method in the research of IT/IS business value. Among the studies focused on specific types of enterprise systems,SCM and CRM received less attention,and the risk effects on stock performance are still unclear. This paper selects the announcements made by U.S. listing companies that implemented SCM or CRM during the year 2000-2008. By using event study method and comparing the statistics between the sample and control group,we come to the conclusion that,SCM and CRM announcements can bring some degree of abnormal return to the stock price in certain years. Furthermore,as a reexamination of die IT/IS risk effects,this paper also reveals the insufficiency of the methods in prior studies.

关键词： SCM CRM IT risk and return event study method stock price volatilities abnormal return

作者: Yangfan Li Jinghua Huang

作者单位: School of Economics and Management,Tsinghua University,Beijing,100084,China

会议类型: 国际会议

会议名称: The Tenth Wuhan International Conference on E-Business(第十届武汉电子商务国际会议)

会议地点: 成都

会议语种:英文

页码: 155-160

在线出版日期: 2011-05-13（万方平台首次上网日期，不代表论文的发表时间）