Examining the Shareholder Wealth Effects of Announcements of Newly Created CIO Positions

By Debabroto Chatterjee, Vernon J. Richardson, Robert W. Zmud. MIS Q., 2001

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Customer Satisfaction and Stock Prices: High Returns, Low Risk: (2006, background): “Although such a reaction might be at odds with how capitalistic markets should function, consumer market imperfections (which may be unknown) make it difficult to anticipate capital market reactions to customer satisfaction news.”
Plant Information Systems, Manufacturing Capabilities, and Plant Performance (2006, background): “Prior research has mostly focused on the impact of IT investments on firm-level performance (Chatterjee et al. 2001; Dos Santos et al. 1993), and several have found that IT spending has a positive impact (Barua et al. 1995; Brynjolfsson and Hitt 1996; Kohli and Devaraj 2003; Menon et al. 2000).”
Revisiting IS business value research: what we already know, what we still need to know, and how we can get there (2013, background): “While some studies consider overall IS investments, others are more specialised and focus on particular IS assets, such as IT capital (Hitt & Brynjolfsson, 1994; Barua et al , 1995), or IS personnel and training (Chatterjee et al , 2001; Mahmood & Mann, 2005).”
CIO Reporting Structure, Strategic Positioning, and Firm Performance (2011, methodology): “In fact, market announcements of new CIO positions help spawn positive reactions in the marketplace (Chatterjee et al. 2001).”