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J. Risk Financial Manag. 2018, 11(4), 62;

Market Reactions to Supply Chain Management Excellence

Department of Management, California State University, Los Angeles, CA 90032, USA
Finance, Real Estate and Law Department, California State Polytechnic University, Pomona, CA 91768, USA
Author to whom correspondence should be addressed.
Received: 29 September 2018 / Revised: 9 October 2018 / Accepted: 10 October 2018 / Published: 12 October 2018
(This article belongs to the Collection Supply Chain Management)
Full-Text   |   PDF [220 KB, uploaded 12 October 2018]


A highly-respected public recognition of supply chain management (SCM) excellence is the Supply Chain Top 25 List, published annually by AMR Research. By employing event study method, this study extensively examined stock market reactions to annual announcements of the AMR Supply Chain Top 25 List, under various market scenarios. The results showed that SCM leading firms consistently outperform market portfolios around annual press-release dates. The mean abnormal returns observed in the event window (0, +1) were positive and statistically significant. In addition, the findings were robust across different estimation models and various market indexes adopted in the event study. At the same time, it is worth noting that the event effect on market performance was temporary and diminished within 5 trading days. This study makes contributions to the growing body of knowledge on the strategic values of firm reputation in general, and for SCM excellence in particular. View Full-Text
Keywords: supply chain management excellence; AMR top 25 list; market performance; abnormal returns; event study supply chain management excellence; AMR top 25 list; market performance; abnormal returns; event study
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

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Shi, M.; Yu, W. Market Reactions to Supply Chain Management Excellence. J. Risk Financial Manag. 2018, 11, 62.

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