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Does Implementation of Big Data Analytics Improve Firms' Market Value? Investors' Reaction in Stock Market

Title
Does Implementation of Big Data Analytics Improve Firms' Market Value? Investors' Reaction in Stock Market
Authors
Lee, HansolKweon, EunkyungKim, MinkyunChai, Sangmi
Ewha Authors
채상미
SCOPUS Author ID
채상미scopus
Issue Date
2017
Journal Title
SUSTAINABILITY
ISSN
2071-1050JCR Link
Citation
vol. 9, no. 6
Keywords
big datadata analyticsmeasuring stock market value of investmentevent study methodology
Publisher
MDPI AG
Indexed
SCIE; SSCI; SCOPUS WOS
Abstract
Recently, due to the development of social media, multimedia, and the Internet of Things (IoT), various types of data have increased. As the existing data analytics tools cannot cover this huge volume of data, big data analytics becomes one of the emerging technologies for business today. Considering that big data analytics is an up-to-date term, in the present study, we investigated the impact of implementing big data analytics in the short-term perspective. We used an event study methodology to investigate the changes in stock price caused by announcements on big data analytics solution investment. A total of 54 investment announcements of firms publicly traded in NASDAQ and NYSE from 2010 to 2015 were collected. Our results empirically demonstrate that announcement of firms' investment on big data solution leads to positive stock market reactions. In addition, we also found that investments on small vendors' solution with industry-oriented functions tend to result in higher abnormal returns than those on big vendors' solution with general functions. Finally, our results also suggest that stock market investors highly evaluate big data analytics investments of big firms as compared to those of small firms.
DOI
10.3390/su9060978
Appears in Collections:
경영대학 > 경영학전공 > Journal papers
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