Researchers have attempted to measure the business value of information technology (IT) investments in different ways. Assessing information systems success through surveys, case studies and/or field (or lab) experiments gives an indication of the value of information systems as perceived by its users (see Ref. [13] for an extensive discussion in this area). Another approach is to find the contribution of IT investments towards revenue- or profit-generation in firms using econometric models. [7], [14], [29], [32] are some examples for research work in the study of IT value using the econometric approach (see Ref. [8] for an extensive survey of work in this area). The former empirical approach generally uses an application software as the unit of analysis, whereas the latter approach is firm-level and measures organizational impact from IT investments. Firm-level analysis within an industry is useful for deriving performance contribution of IT when accounting for the contribution from other input factors as well as in a resource contention setting. Summary