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首页> 外文学位 >Financial analysis and information technology: The impact of being an Internet -dependent firm on the firm's standard financial ratios and stock returns.
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Financial analysis and information technology: The impact of being an Internet -dependent firm on the firm's standard financial ratios and stock returns.

机译：财务分析和信息技术：依赖Internet的公司对公司标准财务比率和股票收益的影响。

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摘要

This research attempts to assess the impact of being an Internet-dependent firm on a firm performance. The need for this research exists because information technology is an important element in business strategy. The choice of a particular technology (such as Internet technology) to implement a firm's business strategy may impact the firm's financial structure and stock valuation.;Based on a search of the previous literature, most research in the field of management information systems has focused on areas such as information quality, user satisfaction, and organizational impact as measures of information technology success. There appears to be a lack of research measuring the impact of information technology on companies' stock valuation. Stock valuation is an important aspect of company success that involves not only management's and users' evaluations, but also outsiders' perception of the company. This study analyzes the impact of being an Internet-dependent firm on both the standard financial ratios and the stock return.;The result of financial ratio analyses revealed that some ratios show a significant difference between Internet-dependent firms and non-Internet firms. Ratios such as total asset turnover and return on assets reveal that Internet-dependent firms have fewer total assets than non-Internet firms. Profitability is one other factor that discerns both types of firms. The net profit margin and return on assets show that currently Internet-dependent firms are less profitable than non-Internet firms. Finally, the market-to-book ratio shows that Internet-dependent firms appear to be relatively overpriced compared to non-Internet firms.;Empirical results indicated that dependency on the Internet has a positive effect on stock returns. It appears that Internet-dependent firms have higher returns than non-Internet firms. These high stock returns seem to justify why Internet-dependent firms' stocks are selling at higher prices than non-Internet firms' stocks are trading. The reason is that the price of a stock is the discounted value of future returns.;The present study shows that the Internet affects some financial ratios as well as stock returns. It can therefore be concluded that the choice of a particular technology impacts not only the financial structure of a company, but also the firm's market capitalization.
机译：本研究试图评估依赖互联网的公司对公司绩效的影响。由于信息技术是业务战略中的重要元素，因此需要进行这项研究。选择用于实施公司业务策略的特定技术（例如Internet技术）可能会影响公司的财务结构和股票估值。；基于对先前文献的搜索，大多数管理信息系统领域的研究都集中在信息质量，用户满意度和组织影响力等领域可作为衡量信息技术成功与否的指标。似乎缺乏研究来衡量信息技术对公司股票估值的影响。股票评估是公司成功的重要方面，不仅涉及管理层和用户的评估，还涉及外部人士对公司的看法。这项研究分析了依赖互联网的公司对标准财务比率和股票收益率的影响。财务比率分析的结果表明，某些比率显示了依赖互联网的公司与非互联网公司之间的显着差异。总资产周转率和资产回报率之类的比率表明，依赖Internet的公司的总资产要少于非Internet公司。盈利能力是辨别两种类型公司的另一个因素。净利润率和资产收益率表明，目前依赖互联网的公司的利润要低于非互联网公司。最后，市净率显示，与非互联网公司相比，依赖互联网的公司似乎价格相对偏高。；经验结果表明，对互联网的依赖对股票收益具有积极影响。看来，依赖互联网的公司比非互联网公司具有更高的回报。这些高的股票回报率似乎可以证明为什么依赖互联网的公司的股票以比非互联网公司的股票更高的价格出售的原因。原因是股票的价格是未来收益的折现值。本研究表明，互联网会影响某些财务比率以及股票收益。因此可以得出结论，特定技术的选择不仅影响公司的财务结构，还影响公司的市值。

著录项

  • 作者

    Kamssu, Aurore Jose Kenmegne.;

  • 作者单位

    The University of Mississippi.;

  • 授予单位 The University of Mississippi.;
  • 学科 Business Administration Management.;Economics Finance.
  • 学位 Ph.D.
  • 年度 2000
  • 页码 167 p.
  • 总页数 167
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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