Resource-based view is the theory that has been applied to analyze the impact of informa-tion technology on business performance. Its main argument is that competitive advan-tages are determined by the unique valuable resources controlled by an organization. IT as a valuable asset will have positive effect on firm performance. However, previous re-search on the issue is inconsistent. This paper reports a meta analysis of 42 papers pub-lished in major journals in information systems. Our findings indicate that the capability mediated model is better than the direct effect model and the major impact of IT is on ef-ficiency indicators.