واکنش بازار به پذیرش ارائه دهنده خدمات کاربردی: بررسی تجربی

We examined the impact of ASP adoption on the market value of the firms and explored contextual factors in the positive abnormal returns. We employed event study methodology to analyze 268 ASP adoption announcements from 1998 to 2007. The results indicated that ASP adoption announcements were associated with positive increases in the market value of the firm. In addition, differences in market returns to ASP adoption were found to depend on strategic adoption intent, firm size, industry, and vendor status. These results provide useful implications for making decisions about whether, when, and how to adopt ASP to maximize the business value.

With the rapid advance of Internet technologies and the expansion of network infrastructure, the application service provider (ASP) has gained attention as a viable option in delivering software services. An ASP delivers and manages applications and computer-based services from a remote center to multiple customers via the Internet or a VPN [27]. In seeking improvements in IRM, many firms have begun considering its adoption. According to the Gartner Group, Software-As-A-Service (SaaS), which shares common themes with ASP and On-Demand Service, will deliver about 25 percent of all new business software by 2011. International Data Corp. also predicted that healthcare, professional services, banking, financial services, and even local government would soon be using ASP services. From a managerial point of view, the procurement of external software and services via ASP is promising. Benefits include a focus on core competencies, an ability to access a broader range of applications, scalability while maintaining flexibility during business environment changes, and less concern about a lack of in-house expertise (reduced need to attract and retain qualified workers).

We sought to examine the impact of ASP adoption announcements on the market value of the firms and explore contextual factors in the positive abnormal returns. In analyzing a sample of 268 ASP adoption announcements during a 10-year period from 1998, the results of our event study indicated that ASP adoption announcements were associated with positive increases in the market value of the firms, indicating that investors or shareholders perceived ASP initiatives favorably with significant future benefits.