Nault, BarrieZhang, Dawei2013-10-092013-11-122013-10-092013http://hdl.handle.net/11023/1140As Information Technology (IT) continues to be a major driving force for innovation, productivity, and economic growth, it is still crucial to understand how IT affects and transforms firms and industries - the benefits it creates as well as the risks it causes. This dissertation consists of three essays, and explores the nature and value of IT, as a production input, as an event that may contain informational content, and as an investment decision that can change firms' risk profiles. The first essay discusses IT's contribution to productive capacity - the maximum sustainable level of output that a production unit may achieve by increasing its short-run inputs to a limit. The second essay examines the informational nature of IT investment announcements - whether they provide new information to investors. The third essay investigates the risky nature of IT investment announcements - how they affect firm risk perceived by investors.engUniversity of Calgary graduate students retain copyright ownership and moral rights for their thesis. You may use this material in any way that is permitted by the Copyright Act or through licensing that has been assigned to the document. For uses that are not allowable under copyright legislation or licensing, you are required to seek permission.Education--BusinessInformation Systmesdoctoral thesis10.11575/PRISM/27910