Impact of artificial intelligence applications on enterprise market value: Evidence from Chinese enterprises

Xue L. Satpayeva Z. Tyulkubayeva A. Kangalakova D.
2025 LLC CPC Business Perspectives

Investment Management and Financial Innovations
2025 #22 Issue 4 303 - 317 pp.

The application of artificial intelligence (AI) in enterprises presents new opportunities for growth in their market value. This study aims to evaluate the impact of AI applications in enterprises on the growth of enterprise market value and the trans-mission mechanism of these impacts. Using an enterprise AI application level as the independent variable, a regression model is constructed to analyze the long-term and short-term market value of the enterprise. This study uses relevant data from Chinese listed companies from 2014 to 2023 for analysis. Findings show that for every 1% in-crease in AI application level, the enterprise market value increases by 0.03% and the enterprise value multiple increases by 0.44%. Increasing the level of AI application in enterprises will enhance their ability to implement low-carbon measures and investors’ expectations of corporate profits, thereby increasing the market value of enterprises. High-quality talent within the enterprise and market share can enhance the impact of these two mechanisms. The application of AI in enterprises has different impacts on different industries and companies of different sizes. This study provides new empirical evidence for enterprise market valuation.

artificial intelligence , enterprise , expectation , investment , low-carbon , market share , market value

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Higher School of Economics and Business, Al-Farabi Kazakh National University, Kazakhstan
Department of Innovative and Technological Development, Institute of Economics of the Ministry of Science and Higher Education, Kazakhstan
Department of the Real Sector of the Economy, Institute of Economics of the Ministry of Science and Higher Education, Kazakhstan

Higher School of Economics and Business
Department of Innovative and Technological Development
Department of the Real Sector of the Economy

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