Information Technology and Financial Performance: The Impact of being an Internet-Dependent Firm on Stock Returns
The choice of a particular technology to implement a firm's business strategy may impact the firm's market performance. This study assesses the impact of being an Internet-dependent firm on a firm's stock valuation. The empirical results indicate that in a booming economy, Internet-dependent firms have lower excess returns than non-Internet firms. These high returns can be explained by the fact that in such an economy, Internet stocks trade at relatively higher prices than non-Internet stocks. Therefore, choosing a particular technology to implement business strategy may have a significant impact a firm's stock performance.
Discourse studies attempt to describe how context affects text, and how text progresses from ::: one sentence to the next. Systemic Functional Linguistics (SFL) offers a model of language ::: to describe how information flow varies according to context and co-text through the Textual ::: metafunction, especially using the functions of Participant Identification and Tracking, ::: Theme and Information Structure. These systems were evaluated by assembling a corpus of ::: academic texts and assessing their information flow. Results of the analysis of the three ::: grammatical systems in the Textual Metafunction demonstrate significant patterns, or ::: unmarked choices, where the participant, thematic and information systems combine to ::: powerful effect. Where the systems are not aligned, there is a recognisable effect on the flow ::: of information.