Harnessing the Power of AI in RD&E Management: The Innovation Index
研究了AI相关技术创新对领先科技公司市场回报的影响，通过构建基于AI专利数量的“创新指数”并融入Fama-French模型，发现AI创新显著提升了这些公司的市场回报。
This paper investigates the complex relationship between AI-related technological innovation and its impact on the market returns of leading technology companies. We introduce the “Innovation Index”, a latent variable based on the number of AI-related patents, and incorporate it into the traditional Fama-French model to better capture the influence of AI advancements on financial performance. Using a state-space representation, our empirical analysis suggests that AI-related innovation significantly contributes to the market returns of prominent and leading technology firms. The findings highlight the strategic importance of AI investments in sustaining long-term growth and competitiveness.