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This study investigates stock market reactions to ICT investment announcements in three transition economies: Czech Republic, Hungary and Slovakia and compare them to results obtained for Poland within thestudy by Dobija et al. (2012) in order to find some similarities and differences among countries forming ‘Visegrad’ region. Our results indicate that the biggest difference in stock reaction is between Slovakia and Hungary, and on a contrary we found many similarities between Czech Republic and Slovakia. Within all tested hypotheses, only the market condition showed significance in all three transition economies. On the other hand, no significant reaction related to the status of ICT investment was found.

Impact of ICT Investments on Performance of Companies in Transition Economies: Evidence from Czech Republic, Hungary and Slovakia