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We choose cross-shareholding A-share firms listed on China's stock market from 2005 to 2008 as our sample. Through empirical test, we find positive and significant relationship between the historical stock returns of shareholder firms and the current returns of the firms who hold stocks. By constructing a zero-investment portfolio rebalanced monthly, we capture abnormal return of 2.01% per month, which is significant after an array of adjustments. However, the significance of equity-link momentum returns are sensitive to various attention proxies, such as firm size, past performance, turnover and mutual funds' joint holding measurement, which is consistent with the hypothesis of limited attention. [ABSTRACT FROM AUTHOR]

The wave of information technology (IT) provides opportunities and challenges to traditional manufacturing industries. The problem that how to describe and measure the impact of IT investment and implementation on organizational performance, however, has been a vital issue which plagued to the domestic and foreign academia and practitioners in related research area. The study proposed a conceptual model for exploring the impacts from three informationization action patterns, IT infrastructure construction, specific transaction application, and collaborative integration on organizational performance, and effects from enterprise size as a moderator. Based on the survey data from companies in heavy-duty machinery industry, the paper conducted an empirical analysis by using structural equation modeling method. The theoretical value of the results and practical implications for informationization routing selection are also discussed. [ABSTRACT FROM AUTHOR]