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政大典藏 > College of Commerce > Department of Accounting > Periodical Articles > Item 140.119/121468

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/121468

Title:	Seeking Value Through Deviation? Economic Impacts of IT Overinvestment and Underinvestment
Authors:	Ho, Joanna;Tian, Feng;Wu, Anne;Xu, Sean Xin Wu, Anne 吳安妮
Contributors:	會計系
Keywords:	investment;firm performance;deviation;overinvestment;underinvestment;Red Queen;concentrated ownership
Date:	2017-12
Issue Date:	2018-12-22 11:48:00 (UTC+8)
Abstract:	This study addresses the economic impacts of information technology (IT) overinvestment and underinvestment decisions. Based on the view of Red Queen competition in conjunction with institutional theory, we hypothesize that overinvestment and underinvestment in IT have nonlinear performance impacts. Drawing on the idea of management control mechanisms, we further hypothesize that the performance impacts are conditional on ownership concentration. Using a sample of S&P 500 firms, we find that, on average, there is a positive relationship between a firm`s overinvestment in IT and Tobin`s q, although that relationship attenuates at higher levels of overinvestment. However, there is, on average, no relationship between a firm`s underinvestment in IT and its Tobin`s q. Importantly, the payoff for underinvestment becomes positive for companies with founding-family ownership. Implications for research and practice are discussed.
Relation:	Information Systems Research, Volume 28, Issue 4, Pages iii-vi, 681-886
Data Type:	article
DOI link:	http://dx.doi.org/10.1287/isre.2017.0710
DOI:	10.1287/isre.2017.0710
Appears in Collections:	[Department of Accounting] Periodical Articles

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