Creating Value through New Distribution Channels: An Analysis of Market Response to Web Site Launches for Brick-and-Mortar Stores and Catalog Outlets
نویسندگان
چکیده
In the early euphoria associated with the launching of new internet-based businesses, most established traditional businesses felt compelled to respond by launching web-based retail outlets of their own. Stock market response to announcements of transactional web-site launches by business-to-consumer retail outlets are examined. Results provide support for theoretical predictions of the effect of established retail outlets investing in web-based stores. In general, announcements by retail outlets yielded positive average abnormal returns. More specifically, announcements by catalog outlets yielded higher abnormal returns than announcements made by brick-and-mortar retail outlets. * Corresponding author Creating Value through New Distribution Channels 2 Creating Value through New Distribution Channels: An Analysis of Market Response to Web Site Launches for Brick-and-Mortar Stores and Catalog Outlets
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