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The Impact of E-Commerce Strategies on Firm Value: Lessons from Amazon.com

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Author Info

  • Darren Filson

    (Claremont Graduate University)

  • Karyn Williams

    (Claremont Graduate University and Wilshire Associates)

Abstract

Managers would like to understand which strategies generate value in e-commerce environments, and researchers are just beginning to explore this issue. Which strategies are useful and which are not? In a step towards answering this question, we estimate the impacts of several competitive strategies on the value of Amazon.com, the well-known Internet retailer, during its first 1000 days as a publicly traded firm. The strategies analyzed include pricing, offline expansion, alliance formation, product line expansion, and service improvement. The results provide insight into the usefulness of various ways of competing online and could be useful for strategic planning in new Internet ventures.

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Bibliographic Info

Paper provided by Claremont Colleges in its series Claremont Colleges Working Papers with number 2001-25.

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Date of creation: Aug 2001
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Handle: RePEc:clm:clmeco:2001-25

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Related research

Keywords: alliance; competitive advantage; competitive strategy; event studies; internet; valuation;

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References

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  1. Su, Han Chan & Kensinger, John W. & Keown, Arthur J. & Martin, John D., 1997. "Do strategic alliances create value?," Journal of Financial Economics, Elsevier, vol. 46(2), pages 199-221, November.
  2. Sundaram, Anant K. & John, Teresa A. & John, Kose, 1996. "An empirical analysis of strategic competition and firm values The case of R&D competition," Journal of Financial Economics, Elsevier, vol. 40(3), pages 459-486, March.
  3. McConnell, John J & Nantell, Timothy J, 1985. " Corporate Combinations and Common Stock Returns: The Case of Joint Ventures," Journal of Finance, American Finance Association, vol. 40(2), pages 519-36, June.
  4. Gennotte, Gerard & Trueman, Brett, 1996. "The Strategic Timing of Corporate Disclosures," Review of Financial Studies, Society for Financial Studies, vol. 9(2), pages 665-90.
  5. Diamond, Douglas W. & Verrecchia, Robert E., 1981. "Information aggregation in a noisy rational expectations economy," Journal of Financial Economics, Elsevier, vol. 9(3), pages 221-235, September.
  6. Chaney, Paul K & Devinney, Timothy M & Winer, Russell S, 1991. "The Impact of New Product Introductions on the Market Value of Firms," The Journal of Business, University of Chicago Press, vol. 64(4), pages 573-610, October.
  7. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
  8. Jennings, Robert H & Mazzeo, Michael A, 1991. "Stock Price Movements around Acquisition Announcements and Management's Response," The Journal of Business, University of Chicago Press, vol. 64(2), pages 139-63, April.
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Cited by:
  1. Hill, John W. & Zeller, Thomas L., 2008. "The new value imperative for privately held companies: The why, what, and how of value management strategy," Business Horizons, Elsevier, vol. 51(6), pages 541-553.
  2. Goldfarb, Brent & Kirsch, David & Miller, David A., 2007. "Was there too little entry during the Dot Com Era?," Journal of Financial Economics, Elsevier, vol. 86(1), pages 100-144, October.

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