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

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Author Info
Darren Filson (Claremont Graduate University)

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Abstract

Which strategies generate value in e-commerce environments? In a step towards answering this question, this paper estimates the impacts of several competitive strategies on the values of the well-known Internet retailer Amazon.com and three of its early competitors, BarnesandNoble.com, CDNOW, and N2K, from their IPO dates until exit or the end of 2001. The strategies analyzed include alliance formation, offline expansion, pricing, product line expansion, and service improvement. The results provide insight into the usefulness of various ways of competing online and could be applied in other settings where firms enter new environments about which they have little information.

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Publisher Info
Paper provided by Claremont Colleges in its series Claremont Colleges Working Papers with number 2003-06.

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Date of creation: Feb 2002
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Handle: RePEc:clm:clmeco:2003-06

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Related research
Keywords: competitive advantage; competitive strategy; event studies; internet; valuation;

Find related papers by JEL classification:
G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Investment Policy
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics

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References listed on IDEAS
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  6. Chaney, Paul K & Devinney, Timothy M & Winer, Russell S, 1991. "The Impact of New Product Introductions on the Market Value of Firms," Journal of Business, University of Chicago Press, vol. 64(4), pages 573-610, October. [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  8. Michael Smith & Erik Brynjolfsson, 1999. "Frictionless Commerce? A Comparison of Internet and Conventional Retailers," Computing in Economics and Finance 1999 1022, Society for Computational Economics.
  9. 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. [Downloadable!] (restricted)
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