A partial adjustment valuation approach with stochastic and dynamic speeds of partial adjustment to measuring and evaluating the business value of information technology |
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| Authors: | Winston T. Lin Yueh H. Chen TingShu Hung |
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| Affiliation: | 1. Department of Operations Management and Strategy, School of Management, The State University of New York at Buffalo, Buffalo, NY 14260-4000, USA;2. Department of Finance, College of Management, National Sun Yat-sen University, Kaohsiung, Taiwan, ROC |
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| Abstract: | This paper extends previous studies to develop a partial adjustment valuation (PAV) approach in which the speeds of partial adjustment are assumed to be stochastic and dynamic over time in measuring and evaluating the values of information technology and others (e.g., e-commerce or EC, brand name, etc.). A practical application is presented to demonstrate the application of the proposed PAV approach and it is compared to the other two existing PAV approaches. |
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| Keywords: | Decision support systems The theory of partial adjustment Random and dynamic speeds Four-step generalized least squares E-commerce |
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