The impact of the Internet on the market valuation of emerging market firms: A longitudinal study, 1991--2001.

摘要

This paper provides empirical evidence as to the positive dispersions in price and volume regarding the economic event of investments in the Internet, using stock data for firms listed on the emerging market stock exchanges in Brazil, India, Indonesia, Russia, and South Africa. The results show that managers of website firms are motivated to invest in web technology because it provides them access to foreign equity capital.