Industrial services are increasingly being utilized as a source of competitive advantages for industrial goods providers and manufacturing companies. In this context, outsourcing these services represents a strategic course of action. Based on signaling theory, Christina Cramer derives hypotheses regarding the impact of outsourcing industrial services on firm value and tests them in an event study. The findings indicate that companies can significantly enhance their firm value through outsourcing, provided they choose an appropriate outsourcing arrangement. This leads to directly actionable implications for the design and communication of outsourcing decisions in the industrial context.