Incremental performance of an eChannel addition: Long-term and volatility consideration perspectives

doi:10.1108/IntR-11-2012-0227

淡江大學機構典藏 > 商管學院 > 管理科學學系暨研究所 > 期刊論文 > Item 987654321/99469

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题名:	Incremental performance of an eChannel addition: Long-term and volatility consideration perspectives
作者:	Lee, Yung-Hsin;Chen, Lily Shui-Lien;Chen, I-Fei;Lin, Bing-Huei
贡献者:	淡江大學管理科學學系
关键词:	Internet channel;Black-Scholes-Merton option pricing model;eChannel;eChannel performance
日期:	2014-01-28
上传时间:	2014-11-03 15:29:38 (UTC+8)
出版者:	Emerald Group Publishing Limited
摘要:	Purpose – The purpose of this paper is to use the Black-Scholes-Merton option pricing model to evaluate the incremental performance of an eChannel addition. Design/methodology/approach – Data were collected from 53 Taiwan financial services firms. In total, 33 of them introduced their online services, whereas the other 20 firms did not introduce their online services during the period under examination. Findings – The research findings show that firm asset values increase following eChannel additions. Thus, eChannel additions enhance firm financial performance. A further analysis comparing the performance between firms with and without eChannel additions also shows that firms with eChannel additions have higher asset value growth rates, which further validates the capacity of eChannel additions to enhance financial performance. Practical implications – Managers and shareholders in firms making eChannel additions are not required to be concerned regarding stock price volatility, and managers in firms without any eChannel investment could use eChannels to enhance their stock price and seize future opportunities. Using eChannel is a valid approach for firms to provide enhanced services to current customers, access new markets, and extend market coverage, thus enhancing overall financial performance. Investors could confide those firms implementing eChannel additions. Originality/value – Studies investigating whether eChannel additions enhance firm financial performance are scant. No study has evaluated performance from a long-term perspective or from a volatility aspect (both are important considerations in eChannel performance evaluation). The research represents a pioneering work that empirically investigates these issues.
關聯:	Internet Research 24(1), p.46-62
DOI:	10.1108/IntR-11-2012-0227
显示于类别:	[管理科學學系暨研究所] 期刊論文

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