Researcher ORCID Identifier


Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Ben Gillen

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This thesis delves into the changing modern impacts of e-commerce investments on market dynamics, with a particular focus on top U.S. retailers. Using an event study methodology, the analysis examines previous research conclusions constructed primarily during the dot-com bubble. The events are sourced from two time periods: 2017 to 2019 and 2022 to 2024. Results show that e-commerce investments during both of these periods had a less-than-significant but overall negative market effect. This is contrary to past literature and begs further investigation into the retail e-commerce industry. Finally, the paper concludes that the tale of e-commerce is cautionary for other premature technological advancements, where market speculation can overstate progress that may take years to fully develop and integrate

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.