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Measuring the Value of Refining a Web Presence

Author

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  • Raquel Benbunan-Fich

    (Baruch College, CUNY, USA)

  • Eliezer M. Fich

    (Drexel University, USA)

Abstract

The redesign of a Web presence can be classified as both an IT investment and an e-commerce initiative. Although the empirical literature provides evidence that financial markets are sensitive to e-commerce announcements, it is still unknown what types of announcements affect the value of firms. We use the event study methodology on a sample of Web site redesigns from 1995 to 1999 to investigate the types of commercial organizations that announce changes to their Web presence, and to study whether such redesign initiatives affect the value of publicly traded firms. Our findings indicate that, on average, refining a Web presence does not produce significant firm valuation adjustments. However, cross-sectional analyses reveal that Web site redesign increases the value of service companies.

Suggested Citation

  • Raquel Benbunan-Fich & Eliezer M. Fich, 2005. "Measuring the Value of Refining a Web Presence," Journal of Electronic Commerce in Organizations (JECO), IGI Global, vol. 3(1), pages 35-52, January.
    • Handle: RePEc:igg:jeco00:v:3:y:2005:i:1:p:35-52
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    Cited by:

    1. Konchitchki, Yaniv & O'Leary, Daniel E., 2011. "Event study methodologies in information systems research," International Journal of Accounting Information Systems, Elsevier, vol. 12(2), pages 99-115.
    2. Narcyz Roztocki & Heinz Roland Weistroffer, 2015. "Investments in enterprise integration technology: An event study," Information Systems Frontiers, Springer, vol. 17(3), pages 659-672, June.
    3. Myung Ko & Narcyz Roztocki, 2009. "Investigating the Impact of Firm Strategy – Click-and-Brick, Brick-and-Mortar, and Pure-Click – on Financial Performance," Working Papers 0092, College of Business, University of Texas at San Antonio.

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