دانلود مقاله ISI انگلیسی شماره 13280
عنوان فارسی مقاله

روش مطالعه رویداد در سیستم های اطلاعات پژوهشی

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
13280 2011 17 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
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عنوان انگلیسی
Event study methodologies in information systems research
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : International Journal of Accounting Information Systems, Volume 12, Issue 2, June 2011, Pages 99–115

کلمات کلیدی
مطالعه رویداد - بازده بازار - بازارهای سرمایه - تحقیق سیستم های اطلاعاتی - عملکرد آینده - سیستم های اطلاعاتی حسابداری
پیش نمایش مقاله
پیش نمایش مقاله روش مطالعه رویداد در سیستم های اطلاعات پژوهشی

چکیده انگلیسی

Event studies are based on the theoretical framework of efficient capital markets and the notion that security prices include all information available to the market. As a result, announcements made by firms provide to market participants information that can be impounded into the market price. This paper investigates the use of event studies in information systems and accounting information systems research using a three-pronged approach. First, this paper provides a comprehensive survey of research that uses event study methodologies, where the events are announcements made by firms about issues related to information systems, e.g., announcements of the adoption of enterprise resource planning systems and of the effect of security breaches in firms' information systems. Second, this paper summarizes event study methodologies used in prior research, along with some of the key parameters and concerns associated with their implementation. Third, this paper provides remarks on key event study modeling issues, and it offers recommendations to researchers.

مقدمه انگلیسی

Event studies have been a major focus of prior research because they provide a powerful setting to examine the informativeness of an event as assessed by market participants. An event study first requires identifying the event of interest, e.g., disclosure of the purchase of a particular type of software. After the event is defined, the period of time over which the stock price of the firm experiencing the event is determined. Then, the stock price changes beyond the “normal,” or expected changes, in response to the event announcement, are examined to determine the extent to which the event changes the market participants' evaluation of the firm. The notion of efficient capital markets (Fama, 1970) provides a strong theoretical foundation for this basic event study methodology. Fama (1991, p. 383) notes that “security prices fully reflect all available information”. As new information is made available to the market, e.g., in the form of announcements about a firm's use of information technology, investors are expected to impound this information into the firm's stock price to capture the expected effect of the new information on the firm's value. As a result, the incremental effect of the information announcement on the value of the firm can be observed. Event studies have been widely used in virtually all business and economics disciplines. Perhaps the first event study was published by Dolley (1933), who investigated the effect of stock splits on stock prices. The modern methodology of event studies was initiated by Ball and Brown, 1968 and Fama et al., 1969, but the methodology has continued to evolve over time (MacKinlay, 1997). MacKinlay, 1997, Binder, 1998 and Kothari and Warner, 2006, and others provide analyses of event studies in finance. In addition, Dehning et al., 2003a, Dehning et al., 2003b, Roztochi and Weistroffer, 2008, Roztochi and Weistroffer, 2009a and Roztochi and Weistroffer, 2009b, and others provide reviews of different aspects of the use of event studies in information systems. However, this paper focuses on methodological issues as they relate to the use of event studies in information systems. In addition, this paper updates the literature that uses event studies in the information systems research area. Further, this paper evaluates the research questions examined in prior studies, and analyzes the comparative limitations of alternative methodological approaches.

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