The impact of IT news on hospitality firm value using cumulative abnormal returns (CARs)

Seoki Lee, Daniel J. Connolly

Research output: Contribution to journalArticle

15 Scopus citations

Abstract

The impact of information technology (IT) news on firm value have been investigated and discussed in various industry settings. Some reports indicate positive impacts while others find negative or no significant impact at all. The purpose of this event study is to examine how financial markets perceive various types of IT news regarding hospitality companies. Nine categories of IT news are created for investigation and the study estimates cumulative abnormal returns (CARs) to determine the impacts of such news on stock price movements. The findings suggest no significant impact from IT news on firm value, supporting the IT paradox theory.

Original languageEnglish (US)
Pages (from-to)354-362
Number of pages9
JournalInternational Journal of Hospitality Management
Volume29
Issue number3
DOIs
StatePublished - Sep 1 2010

All Science Journal Classification (ASJC) codes

  • Tourism, Leisure and Hospitality Management
  • Strategy and Management

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