Abstract
With the advent of the information age, the importance of IT investment becomes more and more obvious for the survival and development of enterprise, and IT has been the important part of enterprise management, so it is very important to understand the impact of IT investment on the performance of enterprise. Through reviewing and analyzing foreign and domestic empirical research literatures about the influences of the IT investment announcements on the enterprise market value, the influencing factors of IT investment value were divided into IT investment character, organization factor and exterior environment, and the limitations of existing research and future research directions about each factor were studied in the article. Aiming at the disputes about the impact of IT investment on enterprise risk and the methodology, the limitations about existing risk factors and methodology were summarized. This article is an attempt to help scholars to further understand the status and limitations of relative researches. Especially, the status of foreign researches was completely explained in the article, and Chinese scholars could further study Chinese sample data aiming at the limitations of existing researches based on the advantages of foreign researches.
Highlights
With the advent of the information age, the importance of IT investment becomes more and more obvious for the survival and development of enterprise (Bharadwaj, 2000, P.169-197), and it is very important to understand the impact of IT investment on enterprise performance (Hayes D C, 2001, P.3-18)
In the research domain of IS, the event specially means the IT investment announcement (Richardson V J, 2002). These researches about IT investment return focus on two problems, i.e. (1) whether the IT investment can acquire returns? (2) What conditions the IT investment can acquire the maximum returns (Richardson V J, 2002 & Dehning B, 2003, P.637-656 & Oh W, 2006, P.19-44)? In these research literatures, the enterprise market value is used as the index of the IT investment return
The conclusions of former researches are not consistent, and some research conclusions showed that the IT investment and the enterprise market value had the positively correlative relationship (Im K S, 2001, P.103-117 & Richardson V J, 2002 & Dos Santos B L, 1993, P.1-23 & Hayes D C, 2000, P.109-125 & Meng Z L, 2007, P.737-745), but other research conclusions found that there was no significant relationship between them (Hayes D C, 2001, P.3-18 & Oh W, 2006, P.19-44 & Meng Z L, 2007, P.737-745 & Chatterjee D, 2002, P.7-42 & Dardan S, 2006, P.100-111 & Dewan S, 2007, P.370-394 & Lee H G, 2002, P.41-56 & Oh W, 2006, P.271-303 & Ranganathan C, 2006, P.145-161 & Subramani M, 2001, P.135-154)
Summary
With the advent of the information age, the importance of IT investment becomes more and more obvious for the survival and development of enterprise (Bharadwaj, 2000, P.169-197), and it is very important to understand the impact of IT investment on enterprise performance (Hayes D C, 2001, P.3-18). In the research domain of IS, the event specially means the IT investment announcement (Richardson V J, 2002) These researches about IT investment return focus on two problems, i.e. The enterprise market value is used as the index of the IT investment return. The second research problem tried to explain the source of inconsistent impact of IT investment and answer when IT investment was efficient Aiming at these two problems, relative literatures in recent years were reviewed in the article, and the intention of this article is to help scholars to further understand the status and limitations of relative researches. By comparing and analyzing the research methods in these literatures, the limitations of the methodology in existing researches can be deeply understood, which can help relative scholars to further improve the methodology
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