Mobile App Releases And Firm Value: Reconciling Conflicting Literature

Current research finds different impacts on the effect of mobile application (app) releases on firm value. Prior event studies based on mobile app announcement dates show positive abnormal returns on average, and prior event studies based on mobile app release dates show negative abnormal returns on average. These conflicting results send mixed messages on the impact of mobile apps on firm value. An event study methodology is used to determine if initial mobile app releases generate positive or negative abnormal returns on average. This paper considers mobile app releases both with and without announcements to attempt to reconcile conflicts in the literature. The effects of time, industry, mobile app category, and mobile operating system are also examined. A sample of 305 initial mobile app releases during 2008 through 2020 from S&P 500 firms is analyzed. The results confirm prior studies that mobile app releases have different effects on firm value on the announcement date and release date. Industry and mobile app category are shown to have a statistically significant, positive effect on firm value for mobile app releases, but time and mobile operating system do not have a statistically significant effect.

Grantor dc:publisher

Creighton University

Year dc:date.issued

2022

Author dc:creator

• Stumphf, Shawn

Advisors dc:contributor.advisor

• Wingender Jr., John R.
• Woodley, Melissa K.

• Android
• Announcement
• Apple
• Event Study
• Firm Value
• Mobile App

Statement dc:rights

• Copyright is retained by the Author. A non-exclusive distribution right is granted to Creighton University and to ProQuest following the publishing model selected above.

Language dc:language.iso

en_US

Repository record dc:identifier.uri

https://cdr.creighton.edu/handle/10504/154036

OAI identifier oai:identifier

oai:cdr.creighton.edu:10504/154036