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A partial adjustment valuation approach with stochastic and dynamic speeds of partial adjustment to measuring and evaluating the business value of information technology

Winston T. Lin, Yueh H. Chen and TingShu Hung

European Journal of Operational Research, 2019, vol. 272, issue 2, 766-779

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.

Keywords: Decision support systems; The theory of partial adjustment; Random and dynamic speeds; Four-step generalized least squares; E-commerce (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:eee:ejores:v:272:y:2019:i:2:p:766-779