Stock Market Reaction to Information Technology Outsourcing: An Event Study (Classic Reprint) - Hardcover

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Excerpt from Stock Market Reaction to Information Technology Outsourcing: An Event Study

In line with this governance perspective, IT outsourcing can be considered within the context of a broader range of interorganizational cooperative arrangements. These arrangements have been adopted by firms to gain fast access to new technologies or new markets, to benefit from economies of scale in joint research and/or production, to tap into sources of know-how located outside the boundaries of the firm, and to share the risks for activities that are beyond the scope of the capabilities of a single organization (powell, 1990: Such advantages of cooperative activities have been argued to impact the market value of firms, with consistent empirical results that point to favorable stock market reaction especially in the arena of joint ventures (koh and Venkatraman, 1991; mcconnell and Nantell, 1985; Woolridge and Snow, In the specific context of IT outsourcing, efficiency-based reasonings have formed a substantial part of the motivation underlying the IT governance choice. For example, the impetuses for IT outsourcing cover:4 (1) strategic considerations that include the need to focus on core competence as well as to attain flexibility (hovey, (2) economic considerations that include the need to allocate resources efficiently such as through rightsizing (hoplin and Hsieh, 1992) and to capture accounting-based incentives (cylix Communications Corp., (3) organizational considerations that include the need to build knowledge (quinn.

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