Market Value Impacts of Information Systems Around the World: A Monte Carlo Investigation to Reduce Bias in International Event Studies

摘要: As commerce and its associated challenges become more globally interconnected, research about those phenomena increasingly crosses national borders. The event study, a widely used method in Information Systems (IS) business value research, has been deployed internationally management disciplines, but not yet IS. IS scholars begin to conduct international studies, they should be aware of finding that single-factor study methods developed for single-country settings may result estimation errors if corrected use (Park, 2004). This paper conducts Monte Carlo analysis simulate security returns within the context varying (a) levels global stockmarket correlation (b) structural relationships between securities their markets. Comparing multi-factor specifications finds conditions commonly observed markets, model exhibits problematic estimates (some exceeding 200% error) which is able provide substantial correction.