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Information Systems Frontiers
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Do Markets Prefer Open or Proprietary Standards for XML Standardization? An Event Study
International Journal of Electronic Commerce
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International Journal of Electronic Commerce
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Market Reactions to Information Security Breach Announcements: An Empirical Analysis
International Journal of Electronic Commerce
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Information and Management
NordSec '09 Proceedings of the 14th Nordic Conference on Secure IT Systems: Identity and Privacy in the Internet Age
Internet market strategies: Antecedents and implications
Information and Management
Market reaction to application service provider (ASP) adoption: An empirical investigation
Information and Management
The strategic value of IT insourcing: An IT-enabled business process perspective
The Journal of Strategic Information Systems
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Decision Support Systems
An intraday market risk management approach based on textual analysis
Decision Support Systems
Information Technology and Management
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Electronic Commerce Research and Applications
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Journal of Management Information Systems
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Computers in Human Behavior
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Decision Support Systems
Linking commercial website functions to perceived usefulness: A free disposal hull approach
Mathematical and Computer Modelling: An International Journal
Resolving uncertainty and creating value from the exercise of e-commerce investment options
Information Systems Journal
Information Systems Frontiers
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Information Systems Research
Research Note---Using Real Options to Investigate the Market Value of Virtual World Businesses
Information Systems Research
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Journal of Global Information Management
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Market Value Impacts of Information Technology Enabled Supply Chain Management Initiatives
Information Resources Management Journal
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Firms are undertaking growing numbers of e-commerce initiatives and increasingly making significant investments required to participate in the growing online market. However, empirical support for the benefits to firms from e-commerce is weaker than glowing accounts in the popular press, based on anecdotal evidence, would lead us to believe. In this paper, we explore the following questions: What are the returns to shareholders in firms engaging in e-commerce? How do the returns to conventional,brick and mortar firms from e-commerce initiatives compare with returns to the new breed ofnet firms? How do returns frombusiness-to-business e-commerce compare with returns frombusiness-to-consumer e-commerce? How do the returns to e-commerce initiatives involvingdigital goods compare to initiatives involvingtangible goods? We examine these issues using event study methodology and assess thecumulative abnormal returns to shareholders (CARs) for 251 e-commerce initiatives announced by firms between October and December 1998. The results suggest that e-commerce initiatives do indeed lead to significant positiveCARs for firms' shareholders. While theCARs for conventional firms are not significantly different from those for net firms, theCARs forbusiness-to-consumer (B2C) announcements are higher than those forbusiness-to-business (B2B) announcements. Also, theCARs with respect to e-commerce initiatives involving tangible goods are higher than for those involving digital goods. Our data were collected in the last quarter of 1998 during a unique bull market period and the magnitudes ofCARs (between 4.9 and 23.4% for different subsamples) in response to e-commerce announcements are larger than those reported for a variety of other firm actions in prior event studies. This paper presents the first empirical test of thedot com effect, validating popular anticipations of significant future benefits to firms entering into e-commerce arrangements.