Launching a corporate website and market efficiency

Daphna Shwarts-Asher, Uri Ben-Zion, Shaul Gabbay, Joseph Yagil

Research output: Contribution to journalArticlepeer-review

2 Scopus citations


Using an event study analysis, this paper investigates the effect of launching a website on corporate stock returns. We find that for domestic firms (traded in the US) the effect on returns is not statistically significant. However, for foreign stocks traded on US capital markets the effect is generally positive and statistically significant. For such firms, which are smaller than their US counterparts, the Internet contributes to their exposure and increases their profit prospects.

Original languageEnglish
Pages (from-to)551-559
Number of pages9
JournalApplied Financial Economics
Issue number7
StatePublished - 1 Apr 2006

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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