Impact of Cloud Computing Adoption Announcements on Share Prices
Cloud computing is the technology implemented by the companies or firms. Cloud is a big data process and it stores many data in the cloud. The firm that decides to adopt cloud computing quote potential reduction in cost as the primary reason for their decision (Fogart, 2010; Pemmaraju, 2010). Thus the present research focuses on the impact of cloud computing announcements by companies on its share prices. Nifty IT sector, Nifty Financial service sector and Nifty Media sector are taken for sample selection. Event study methodology is adopted by considering the window period of 15 days pre and 15 days post announcement. The study found that there is positive impact for IT and financial services sector companies and negative impact for media sector companies.