| Author: | Lam, Wai Leung |
| Title: | Digital transformation and firm values : an empirical study |
| Degree: | D.B.A. |
| Year: | 2025 |
| Subject: | Technological innovations -- Economic aspects Stocks -- Prices Corporations -- Valuation Hong Kong Polytechnic University -- Dissertations |
| Department: | Faculty of Business |
| Pages: | vii, 140 pages : color illustrations |
| Language: | English |
| Abstract: | In digitalization transformation journey, number of disruptive digital technologies are implemented in firm’s daily business operations and this trend has been accelerated since Covid-19. While the majority of academic studies have predominantly concentrated on qualitative discussions concerning the benefits, limitations, applications, and implementation of digital technologies, this research aims to empirically investigate the impact of digital technology implementation announcements on firm value, specifically in terms of stock price, through the lens of the Resource-Based View (RBV) theory. An event study was conducted involving 135 publicly listed firms in the United States over the period from 2011 to 2021. The findings indicate that announcements regarding the implementation of digital technology are significantly associated with positive abnormal returns in stock prices in these firms. Additionally, regression analysis reveals that firms within the manufacturing sector achieve enhancements in firm value following the implementation of digital technology. Conversely, high-tech firms experience negative effects on firm value after making the announcements. With the findings, theoretical and managerial implications are developed. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 8255.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 1.39 MB | Adobe PDF | View/Open |
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