Effects of information technology failures on the market value of firms

IT failures abound but little is known about the financial impact that these failures have on a firm’s market value. Using the resource-based view of the firm and event study methodology, this study analyzes how firms are penalized by the market when they experience unforeseen operating or implement...

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Vydané v:The journal of strategic information systems Ročník 18; číslo 2; s. 66 - 79
Hlavní autori: Bharadwaj, Anandhi, Keil, Mark, Mähring, Magnus
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: Elsevier B.V 01.06.2009
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ISSN:0963-8687, 1873-1198
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Abstract IT failures abound but little is known about the financial impact that these failures have on a firm’s market value. Using the resource-based view of the firm and event study methodology, this study analyzes how firms are penalized by the market when they experience unforeseen operating or implementation-related IT failures. Our sample consists of 213 newspaper reports of IT failures by publicly traded firms, which occurred during a 10-year period. The findings show that IT failures result in a 2% average cumulative abnormal drop in stock prices over a 2-day event window. The results also reveal that the market responds more negatively to implementation failures affecting new systems than to operating failures involving current systems. Further, the study demonstrates that more severe IT failures result in a greater decline in firm value and that firms with a history of IT failures suffer a greater negative impact. The implications of these findings for research and practice are discussed.
AbstractList IT failures abound but little is known about the financial impact that these failures have on a firm's market value. Using the resource-based view of the firm and event study methodology, this study analyzes how firms are penalized by the market when they experience unforeseen operating or implementation-related IT failures. Our sample consists of 213 newspaper reports of IT failures by publicly traded firms, which occurred during a 10-year period. The findings show that IT failures result in a 2% average cumulative abnormal drop in stock prices over a 2-day event window. The results also reveal that the market responds more negatively to implementation failures affecting new systems than to operating failures involving current systems. Further, the study demonstrates that more severe IT failures result in a greater decline in firm value and that firms with a history of IT failures suffer a greater negative impact. The implications of these findings for research and practice are discussed.
Author Keil, Mark
Bharadwaj, Anandhi
Mähring, Magnus
Author_xml – sequence: 1
  givenname: Anandhi
  surname: Bharadwaj
  fullname: Bharadwaj, Anandhi
  email: anandhi_bharadwaj@bus.emory.edu
  organization: Goizueta Business School, Emory University, Atlanta, GA 30033, United States
– sequence: 2
  givenname: Mark
  surname: Keil
  fullname: Keil, Mark
  email: mkeil@gsu.edu
  organization: Department of Computer Information Systems, J. Mack Robinson College of Business, Georgia State University, P.O. Box 4015, Atlanta, GA 30302-4015, United States
– sequence: 3
  givenname: Magnus
  surname: Mähring
  fullname: Mähring, Magnus
  email: magnus.mahring@hhs.se
  organization: Department of Management and Organization, Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden
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https://research.hhs.se/esploro/outputs/journalArticle/Effects-of-information-technology-failures-on/991001480517506056$$DView record from Swedish Publication Index
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Keywords IT failure
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Snippet IT failures abound but little is known about the financial impact that these failures have on a firm’s market value. Using the resource-based view of the firm...
IT failures abound but little is known about the financial impact that these failures have on a firm's market value. Using the resource-based view of the firm...
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SubjectTerms Event study
IT failure
Resource-based view
Title Effects of information technology failures on the market value of firms
URI https://dx.doi.org/10.1016/j.jsis.2009.04.001
https://www.proquest.com/docview/743600343
https://research.hhs.se/esploro/outputs/journalArticle/The-Effects-of-Information-Technology-Failures/991001480488906056
https://research.hhs.se/esploro/outputs/journalArticle/Effects-of-information-technology-failures-on/991001480517506056
Volume 18
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