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Title: Market reaction to the announcement of online sales channel investment in enterprises: Evidence from a relatively stable market environment
Authors: Lei, Yang 
Dr. ZHOU Qiang 
Cheung, Waiman 
Dr. CUI Xiling, Celine 
Peng, Ling 
Issue Date: 2021
Source: Electronic Commerce Research, 2021.
Journal: Electronic Commerce Research 
Abstract: Although relevant literature investigates the economic value of online sales channel (OSC) from the perspective of the stock market, knowledge on this topic remains insufficient or unclear because existing studies are conducted under an extremely turbulent market environment and have not considered different aspects. This study aims to examine the topic by focusing on the market reactions to OSC investment from three aspects (namely, the innovativeness, business model and goods types) in a relatively stable market environment to fill in the research gap. Empirical results, obtained using 69 firm-level OSC announcements from October 2002 to September 2007, show that the stock market reacts positively to OSC investment by firms. Additionally, the stock market reactions to OSC investment mainly depend on two key characteristics, namely investment innovativeness and business model applied.
Description: Open access
Type: Peer Reviewed Journal Article
ISSN: 1389-5753
DOI: 10.1007/s10660-021-09500-0
Appears in Collections:Business Administration - Publication

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