The Impact of Enterprise IT Investment on Corporate Performance: Evidence from China

IF 3 4区管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE

Journal of Global Information Technology Management Pub Date : 2020-07-02 DOI:10.1080/1097198X.2020.1792230

Peinan Ji, Xiangbin Yan, Guang Yu

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Abstract

ABSTRACT This paper uses econometrics to examine the influence of information technology investment using public firm data from China. Specifically, we observe whether there are differences in IT investment between developing countries and developed countries theoretically, and how the financial market performed after massive IT investment in China. The results are based on a sample of 166 IT investment announcements selected from the 3740 possible IT investment announcements spanning 2009 to 2017. Over the announcement period, we find positive effect for the full sample and the innovative IT investments, but not in the case of non-innovative investments. When it comes to types of listed companies, only the IT investments of growth enterprises market listed companies have a significant impact on stock price performance. Compared with previous studies, which only pay attention to the longitudinal position of firms, our research also examined the impact of IT investment on firms’ horizontal position, namely the changes of market before and after the investment in the time-line.

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企业IT投资对企业绩效的影响:来自中国的证据

摘要本文利用中国上市公司数据，运用计量经济学方法考察了信息技术投资的影响。具体而言，我们观察了发展中国家和发达国家在IT投资方面的理论差异，以及中国大规模IT投资后金融市场的表现。该结果基于从2009年至2017年的3740个可能的IT投资公告中选出的166个IT投资公告样本。在公告期内，我们发现对全样本和创新IT投资有积极影响，但对非创新IT投资没有积极影响。从上市公司类型来看，只有创业板上市公司的it投资对股价表现有显著影响。与以往的研究只关注企业的纵向位置相比，我们的研究还考察了IT投资对企业横向位置的影响，即投资前后市场在时间线上的变化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Global Information Technology Management INFORMATION SCIENCE & LIBRARY SCIENCE-

CiteScore

4.10

自引率

10.00%

发文量

期刊介绍： The Journal of Global Information Technology Management (JGITM) is a refereed international journal that is supported by Global IT scholars from all over the world. JGITM publishes articles related to all aspects of the application of information technology for international business. The journal also considers a variety of methodological approaches and encourages manuscript submissions from authors all over the world, both from academia and industry. In addition, the journal will also include reviews of MIS books that have bearing on global aspects. Practitioner input will be specifically solicited from time-to-time in the form of invited columns or interviews. Besides quality work, at a minimum each submitted article should have the following three components: an MIS (Management Information Systems) topic, an international orientation (e.g., cross cultural studies or strong international implications), and evidence (e.g., survey data, case studies, secondary data, etc.). Articles in the Journal of Global Information Technology Management include, but are not limited to: -Cross-cultural IS studies -Frameworks/models for global information systems (GIS) -Development, evaluation and management of GIS -Information Resource Management -Electronic Commerce -Privacy & Security -Societal impacts of IT in developing countries -IT and Economic Development -IT Diffusion in developing countries -IT in Health Care -IT human resource issues -DSS/EIS/ES in international settings -Organizational and management structures for GIS -Transborder data flow issues -Supply Chain Management -Distributed global databases and networks -Cultural and societal impacts -Comparative studies of nations -Applications and case studies