Who needs to be more visible online? The value implications of web visibility and firm heterogeneity

This study examines the value implications of web visibility and firm heterogeneity. We theorize and analyze the value creation process of firm web visibility by mapping it onto firm web performance and then business performance. With a comprehensive sample of 2840 US firms, we find that web visibility is a significant determinant of firm web traffic, and it improves both firm short- and long-term performances. The results also reveal that web visibility creates higher values for business-to-consumer (B2C) than business-to-business (B2B) firms, for firms with a value appropriation focus than those with a value creation focus, and for firms of search goods than those of experience goods.