The Impact of Artificial Intelligence Investment on Market Value: An Event Study

被引：0
|
作者：
Lui, Arid K. H. [1 ]
Lee, Maggie C. M. [2 ]
Ngai, Eric W. T. [2 ]
机构：
[1] Swinburne Univ Technol, Melbourne, Vic, Australia
[2] Hong Kong Polytech Univ, Hong Kong, Peoples R China
来源：
AMCIS 2020 PROCEEDINGS | 2020年
关键词：
Artificial intelligence (AI); event study; market value; contextual factors; TECHNOLOGY;
D O I：
暂无
中图分类号：
TP301 [理论、方法];
学科分类号：
081202 ;
摘要：
In recent decades, many firms have invested in artificial intelligence (AI) and used them in business applications across industries. However, understanding of the impact of AI on firm value is limited. In this study, 67 AI investment announcements of 42 listed firms were analyzed by adopting the event study methodology. Results reveal that AI investment has a negative impact on a firm's market value, as the stock price of the firms decreased by 1.77% on the day of the announcement. The result also shows that comparing with stable market environment, investors response more negatively to AI investment announcements under unstable market environment.
引用
收藏
页数：5
相关论文
共 50 条
  • [31] Estimating the market value of Steve Jobs using an event study
    Chatjuthamard, Pattanaporn
    Jiraporn, Pornsit
    Jiraporn, Napatsorn
    Tong, Shenghui
    APPLIED ECONOMICS LETTERS, 2017, 24 (01) : 30 - 34
  • [32] Concentrating intelligence: scaling and market structure in artificial intelligence*
    Korinek, Anton
    Vipra, Jai
    ECONOMIC POLICY, 2025, 40 (121) : 225 - 256
  • [33] The impact of information technology investment announcements on the market value of the Japanese regional banks
    Takeda, Fumiko
    Takeda, Koichi
    Takemura, Toshihiko
    Ueda, Ryota
    FINANCE RESEARCH LETTERS, 2021, 41
  • [34] Liquidity phenomenon: Essence, criteria, properties and impact on the market and investment value of assets
    Kozyr, Yu. V.
    EKONOMIKA I MATEMATICESKIE METODY-ECONOMICS AND MATHEMATICAL METHODS, 2022, 58 (01): : 48 - 60
  • [35] What is the Market Value of Artificial Intelligence and Machine Learning? The Role of Innovativeness and Collaboration for Performance
    Fredstrom, Ashkan
    Parida, Vinit
    Wincent, Joakim
    Sjojin, David
    Oghazi, Pejvak
    TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE, 2022, 180
  • [36] DETERMINING INVESTMENT VALUE IN AN ILLIQUID MARKET
    GORLOW, RM
    PARR, DM
    REAL ESTATE REVIEW, 1994, 23 (04): : 24 - 29
  • [37] Market Value and the Theory of Investment of the Firm
    Rosegger, Gerhard
    AMERICAN ECONOMIC REVIEW, 1967, 57 (04): : 910 - 917
  • [38] Study of the Knowledge and Impact of Artificial Intelligence on an Academic Community
    Leao, Celina Pinto
    Goncalves, Pedro
    Cepeda, Tiago
    Botelho, Lourenco
    Silva, Carlos
    2018 9TH INTERNATIONAL CONFERENCE ON INTELLIGENT SYSTEMS (IS), 2018, : 891 - 895
  • [39] The Impact of Artificial Intelligence on Global Journalism: An Analytical Study
    Almakaty, Safran Safar
    REVIEW OF COMMUNICATION RESEARCH, 2024, 12 : 115 - 133
  • [40] The Impact of Artificial Intelligence in the World of Finance: A Bibliometric Study
    Yepes, Isabel
    Arevalo, Osvaldo
    Martinez Garces, Josnel
    Polo Carrillo, Emilia Maria
    Rodriguez-Villamizar, Mary Yaneth
    Roa, Jorge
    HCI INTERNATIONAL 2024-LATE BREAKING POSTERS, HCII 2024, PT II, 2025, 2320 : 305 - 313
12345