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PurposeEnterprise application integration (EAI) technologies are critical to functionally integrate diverse corporate computer systems, and as such may be expected to have a positive effect on business value. The purpose of this paper is to examine the market reaction to announcements of EAI investments as a surrogate for investor perceived business value of such technology.Design/methodology/approachAn event study approach is used with 81 announcements of EAI investments between 1998 and 2005, taken from Lexis‐Nexis database.FindingsThe results suggest that investors do not always receive EAI investments positively, especially if the announcements are from financially distressed companies and if market conditions are unfavorable.Research limitations/implicationsLimitations include the possibility of confounding events, possible bias in the identified announcements, and our focus on EAI technology only. Future research may try to better account for confounding events, identify a more comprehensive list of relevant announcements, and also look at other technologies.Practical implicationsManagers should not view EAI technology as a panacea for organizational problems. Financial markets mostly respond negatively to EAI announcements when the announcing company is perceived as an investment risk or the announcement is released during bear market conditions.Originality/valueThis study expands the existing body of knowledge on IT contribution to market value. The focus on EAI technology allows for better comparison of results and testing of hypotheses. Also new is the finding that perceived company risk as well as market conditions play an important role in the reaction to IT investment announcements.

PurposeThe purpose of this paper is to provide a comprehensive literature review of enterprise content management (ECM) research, a conceptual framework of areas of concern regarding ECM, and an agenda for future ECM research, based on the review and conceptual framework.Design/methodology/approachTo gain an understanding of the ECM literature, a structured research approach is adopted, consisting of two phases. The first phase consists of identifying the relevant ECM research papers. In the second phase, the analysis phase, the current ECM research is categorized based on three structural pillars: system component dimensions, system lifecycle, and strategic managerial aspects.FindingsAfter a review and classification of 91 ECM publications, it is found that ECM involves several sophisticated and interacting technical, social, organizational, and business aspects. The current ECM literature can be grouped around three main pillars: the first pillar consists of the four ECM component dimensions (tools, strategy, process, and people). The second pillar is the enterprise system lifecycle (adoption, acquisition, evolution, and evaluation). The final pillar is the strategic managerial aspect (change management, and management commitment). Based on the review and a proposed conceptual framework, an agenda for future research around the aforementioned three pillars is suggested.Originality/valueThere is a lack of ECM meta‐analysis research that explains the current state of the field. This paper contributes to information systems research by describing and classifying the published literature in ECM and by pointing out the gaps where further research is most needed. Furthermore, the paper provides a framework that may provide a conceptual structure for future studies.