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Article
Publication date: 18 January 2008

Ernest W. King and Drew B. Winters

The purpose of the paper is to determine if banks that solved the Y2K problem early created value for their shareholders.

Abstract

Purpose

The purpose of the paper is to determine if banks that solved the Y2K problem early created value for their shareholders.

Design/methodology/approach

The method of analysis is an event study.

Findings

The primary finding of the analysis is that solving the Y2K problem did not create value for bank shareholders. That is, announcements of solving the Y2K problem were not accompanied with positive stock price reactions.

Research limitations/implications

While the paper does not find support for a positive reaction to solving Y2K, it does find some evidence of concerns about banks that were having trouble solving Y2K. However, the sample size of banks with problems was small and therefore we caution readers about generalizing these results.

Practical implications

All banks needed to solve the Y2K problem, but those solving Y2K do not appear to create value for their shareholders. From this we conclude that it is better to buy the solution to a required project than to develop it internally.

Originality/value

This paper is of interest to anyone in a capital budgeting decision making process that includes required projects.

Details

Managerial Finance, vol. 34 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 August 1999

Mark Lemke and Kakoli Bandyopadhyay

The Year 2000 (Y2K) problem threatens the effective functioning of all Information Technology‐enabled organizations. This paper illustrates the Y2K preparedness at…

Abstract

The Year 2000 (Y2K) problem threatens the effective functioning of all Information Technology‐enabled organizations. This paper illustrates the Y2K preparedness at Firstlogic, a software company in Wisconsin, USA. At Firstlogic, products have been tested for Y2K compliance, solutions have been suggested for non‐compliant systems, resources have been allocated to modify or replace affected systems, and relevant legal issues have been addressed to protect the company from Y2K‐related lawsuits.

Details

Disaster Prevention and Management: An International Journal, vol. 8 no. 3
Type: Research Article
ISSN: 0965-3562

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Article
Publication date: 1 August 1999

Philip Catania

The aim of this paper is to survey some of the “hotspots” of potential Y2K‐related legal liability, as well as some of the Y2K regulatory requirements of which…

Abstract

The aim of this paper is to survey some of the “hotspots” of potential Y2K‐related legal liability, as well as some of the Y2K regulatory requirements of which organisations need to be aware.

Details

Information Management & Computer Security, vol. 7 no. 3
Type: Research Article
ISSN: 0968-5227

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Article
Publication date: 1 March 2000

Seokha Koh, Sooun Lee and David C. Yen

The year 2000 (Y2K) remedy process is an ongoing business to be continued even after the rollover of the century. This is especially true for the organizations that fail…

Abstract

The year 2000 (Y2K) remedy process is an ongoing business to be continued even after the rollover of the century. This is especially true for the organizations that fail to cope with the crisis properly. In this paper, major problems associated with the crisis are identified and key remedy issues such as effective remedy methods, a systematic implementation model, compliance testing, and resource management issues are identified and presented. Post‐millennium remedy guidelines are also suggested, as the Y2K crisis will be an ongoing business for many organizations for an extended period of time after the rollover of the millennium.

Details

Industrial Management & Data Systems, vol. 100 no. 2
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 1 October 1999

Brian W. Smith and Andrew J. Morris

The threat of securities class actions haunts every public company. The threat probably is worst for information technology companies. Similarly, Y2K claims may threaten…

Abstract

The threat of securities class actions haunts every public company. The threat probably is worst for information technology companies. Similarly, Y2K claims may threaten every company, and probably are greatest for those most dependent on information technology. It follows that the combination of these risks ± of securities class actions resulting from any of the countless types of possible Y2K claims ± presents public companies with a formidable problem. This article provides an overview of the implications of Y2K for securities class actions, and identifies some practical steps for minimizing the risks from Y2K‐related securities claims.

Details

Information Management & Computer Security, vol. 7 no. 4
Type: Research Article
ISSN: 0968-5227

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Article
Publication date: 1 December 2000

Frank Dewhurst, Martin Spring and Nigel Arkle

As businesses worked towards Y2000 compliancy and checked their sources of supply, the mechanisms and nature of relationships in the supply chain were exposed. A…

Abstract

As businesses worked towards Y2000 compliancy and checked their sources of supply, the mechanisms and nature of relationships in the supply chain were exposed. A multi‐case study methodology of four UK‐based SMEs and one large multinational company was undertaken to exploit this time‐window. Although the Y2000 problem was to some extent unique, it is only one of many potential environmental changes that organisations, particularly businesses, have to respond to in the rapidly changing future. Thus any lessons that can be learned from studying this event could provide useful information for future significant environmental changes; changes to trading and market environments; changes to employment law. Whilst the terms “supply chain” and “supply chain management” are universally adopted, their meaning and actual application is less certain. This paper explores the limited but diverse multidisciplinary literature and the “theory/practice” gap in the area of supply chain management and the impact on the supply chain of preparing for the Year 2000.

Details

Supply Chain Management: An International Journal, vol. 5 no. 5
Type: Research Article
ISSN: 1359-8546

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Article
Publication date: 1 May 1998

Margaret J. Wheatley

“No one can predict the extent or nature of the disruptions that Y2K will cause. Yet the list of potential consequences from the failure of computers and embedded…

Abstract

“No one can predict the extent or nature of the disruptions that Y2K will cause. Yet the list of potential consequences from the failure of computers and embedded microprocessors to deal with the calendar shift to a four‐digit year only keeps growing.”

Details

Strategy & Leadership, vol. 26 no. 5
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 1 June 1999

Richard A. Leach, Larry Whitman, K.J. Rogers and D. Ryan Underdown

The end of the millennium may hold significant difficulties for any system dependent on computer dates. Computers which misinterpret the year 2000 and other significant…

Abstract

The end of the millennium may hold significant difficulties for any system dependent on computer dates. Computers which misinterpret the year 2000 and other significant dates may require considerable repair. There have been many methodologies developed to assist companies with the process of Y2K repair. These methodologies and additional considerations for approaching Y2K solutions are presented. Specific measures to avoid logistics difficulties are discussed. The success of these measures can be considerably enhanced through the application of a transformation methodology. A proven transformation methodology for facilitating change is presented as applied to mitigating the Y2K risk.

Details

Logistics Information Management, vol. 12 no. 3
Type: Research Article
ISSN: 0957-6053

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Article
Publication date: 1 June 2000

Rob Law and Mary Lau

Traditionally, the hotel industry has prided itself on its provision of quality service and therefore guest satisfaction. Unfortunately, hotel managers are often…

Abstract

Traditionally, the hotel industry has prided itself on its provision of quality service and therefore guest satisfaction. Unfortunately, hotel managers are often reluctant, or even resistant, to accept technologies, fearing that technologies might change their ability to provide hotel guests with the personal attention that characterizes a typical hotel business. Hotel managers’ low technical competence, and the wide adoption of technology‐assisted hotel operations, mean that the hotel industry remains at high risk regarding information technology (IT) problems. This paper reports on a study that investigates the Y2K readiness in various departments of the Kowloon Hotel. Based on the Kowloon Hotel’s experience, this paper serves to inform hotel managers that: most, if not all, hotels are at risk of future IT problems; the cost of a hotel for ignoring these problems could be huge, and most importantly; the problems’ influences will be timeless. That is, IT problems could have a long‐lasting impact on the entire hotel industry. Research findings of this paper should be of interest to hoteliers to better understand the impact of IT applications in the year 2000 and beyond.

Details

International Journal of Contemporary Hospitality Management, vol. 12 no. 3
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 1 September 1999

Mark A. Frautschi

In the context of the “year‐2000” problem, focuses on the risk involved in real time clocks and their interactions with associated embedded processors and logic arrays…

Abstract

In the context of the “year‐2000” problem, focuses on the risk involved in real time clocks and their interactions with associated embedded processors and logic arrays, dedicated electronic control and monitoring logic incorporated into larger systems. These are essential to the operation of a vast portfolio of infrastructures, from medical equipment, to buildings (phone, security, heating, plumbing and lighting), to transportation, to financial networks, to just‐in‐time delivery systems, and so on. According to a recent study, the firmware (permanently loaded instructions) that enables these systems to run is date sensitive and not year‐2000‐compliant in less than 1 percent of the 50 billion microprocessors and microcontrollers used in embedded systems installed worldwide by the end of the twentieth century. This small fraction will fail, causing the systems they control to begin failing around 1 January 2000 and for the first few years of the next century. Presents a pessimistic, illustrative scenario, describing the disruption of essential infrastructure from electric power, to food and fuel distribution, to communications, to financial networks.

Details

Management Decision, vol. 37 no. 7
Type: Research Article
ISSN: 0025-1747

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