Skip to content

General Contact Information


Phone: 646-660-6500

Fax: 646-660-6501




Mailing Address:

Office of the Provost & Senior Vice President for Academic Affairs

Baruch College/CUNY

One Bernard Baruch Way
Box D-701

New York, NY 10010-5585


Walk-In Address:

Administrative Center

135 East 22nd Street, 7th Floor

Office of the Provost and Senior Vice President for Academic Affairs

Message Archive

Friday, February 3, 2017


This email is being sent to all members of the Baruch College faculty.

For an archive of announcements sent from the Associate Provost beginning June 2011, click here.


The Information Systems and Statistics

Research Seminar Series

(see RSVP information below)



From:  Prof. Kannan Mohan

Paul H. Chook Department of Information Systems and Statistics, Coordinator, Ph.D. program in Information Systems

Prof. Arun Rai

Regents’ Professor of the University System of Georgia and J. Mack Robinson Chair;

Center for Process Innovation   

J. Mack Robinson College of Business

Georgia State University


Date: February 16, 2017

Time: 12:30 to 1:45PM

Location: 11-217 IS-STA Conference room      

Reducing Capital Market Anomaly: The Role of Information Technology Using an Information Uncertainty Lens


Abstract: We investigate how firms, by implementing IT, can mitigate a particular anomaly in capital markets—investors underreacting to new public information. Theory of information uncertainty (IU) attributes the anomaly to IU, or ambiguity of the information about firm value. We theorize that a firm’s IT in general and enterprise systems (ES) in particular can mitigate IU, thus reducing the IU-induced underreaction anomaly. Based on a difference-in-differences analysis on a sample of 748 ES implementations, our main finding is that ES implementation reduces the IU-induced underreaction anomaly. We further uncover the mechanisms underlying this ES impact by showing that (i) ES implementation reduces IU by mitigating the two driving forces of a firm’s IU, i.e., its fundamentals volatility and poor information, (ii) firms with greater IT capability are better positioned to realize the anomaly-reducing benefits from ES implementation, (iii) the ES impact tends to surface after the shakedown phase of ES implementation, i.e., after sufficient time has elapsed for the firm to absorb the change introduced by the ES implementation, and (iv) the anomaly-reducing effect of ES is most pronounced when implementations of both ES functional modules and operational modules are at high levels. In addition, we obtain remarkably consistent results by using alternate methods to quantify anomaly and with alternate measures of a firm’s IT. Finding such impacts of a firm’s IT is economically highly consequential as they suggest improvement in capital market efficiency resulting from IT-related decisions made by firms.



Arun Rai is Regents’ Professor of the University System of Georgia at the Robinson College of Business at Georgia State University. He holds the Robinson Chair of IT-enabled Supply Chains and Process Innovation and the Harkins Chair of Information Systems.  He is currently serving as the Editor-in-Chief of MIS Quarterly. He is a Fellow of the Association for Information Systems and a Distinguished Fellow of the INFORMS Information Systems Society. For over 25 years, Dr. Rai’s research has examined how organizations can leverage information technologies in their strategies, inter-organizational relationships, and processes, and how systems can be successfully developed, implemented, and utilized to address business and societal problems. He has chaired 29 doctoral dissertations and several of his former Ph.D. students hold senior leadership positions at their universities as well as at leading scholarly journals and professional organizations. Dr. Rai co-founded the Robinson College of Business’ Center for Process Innovation (CEPRIN), an interdisciplinary research center on digital innovation that promotes industry-university partnerships. He has served as Senior Editor and Associate Editor for Information Systems Research, MIS Quarterly, and Management Science, and as a panelist for the National Science Foundation.


Presented by the Paul H. Chook Department of Information Systems and Statistics    


To RSVP for any of the above events, please visit: If you have any questions, please contact Kannan Mohan at


Kannan Mohan

Coordinator, Ph.D. program in Information Systems

Paul H. Chook Department of Information Systems and Statistics
Baruch College, The City University of New York
Phone: (646) 312 3372

Ph.D. Program: