Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Apr 2026, 06:12:25am EDT
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Agenda Overview |
| Session | ||
Track T3-3: Data, AI, and Digital Governance: Markets and Policy
Artificial Intelligence and Firms' Systematic Risk Tania Babina1, Anastassia Fedyk2, Alex Xi He1, James Hodson3 1. University of Maryland - Robert H. Smith School of Business; 2. University of California, Berkeley - Haas School of Business; 3. AI for Good; Cognism; Jožef Stefan Institute | ||
| Session Abstract | ||
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We provide direct evidence that firms' investments in new technologies affect the composition of firms' risk profiles. Leveraging comprehensive data on firm-level artificial intelligence (AI) investments, we document that firms that invest more in AI experience increases in their systematic risk, measured by market beta. This is unique to AI: robotics, IT, organizational capital, and R&D investments do not display similar effects. Our results are consistent with AI investments creating growth options: AI-investing firms become more growth-like, and the effect on market betas concentrates during market upswings and periods of increased news and attention around AI advances. | ||
| External Resource: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4868770 | ||
| No contributions were assigned to this session. |