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| Title: | 人工智慧專利與企業市值之關聯：來自半導體產業的實證分析
Artificial Intelligence Patents and Corporate Market Value: Evidence from the Semiconductor Industry |
| Authors: | 萬文皓
Wan, Wen-Hao |
| Contributors: | 楊宗翰
萬文皓
Wan, Wen-Hao |
| Keywords: | 人工智慧
專利
公司市值
公司年齡
資本支出
調節效果
Artificial intelligence
Patent
Market value
Firm age
Capital expenditures
Moderating effect |
| Date: | 2025 |
| Issue Date: | 2025-09-01 16:07:42 (UTC+8) |
| Abstract: | 隨著人工智慧（AI）技術快速發展，企業對AI技術的投入成為提升競爭力的重要策略之一，然而AI投入對公司市值的實際影響仍需進一步實證討論，並且不同公司年齡與資本支出是否會產生調節效果也值得探究。本研究以半導體產業（SIC 3674）2014年至2024年之81家上市公司為研究對象，利用World Intellectual Property Organization (WIPO)專利資料庫取得各公司AI相關專利數量，作為AI投入的代理變數，且納入公司年齡及資本支出作為調節變數，並以公司市值作為衡量指標，探討AI投入對公司市值之影響。
實證結果顯示，AI投入對公司市值具有正向且顯著的影響，且在公司年齡較大的企業中，AI投入對市值的影響效果更為顯著，然而當企業資本支出較高時，AI 專利對市值的邊際正向效果越弱。本研究結果有助於企業釐清AI投入對公司市值的實際效益，並提供管理階層在AI投資決策上的參考。
With the rapid advancement of artificial intelligence (AI) technologies, investment in AI has become a key strategy for enhancing corporate competitiveness. However, the actual impact of AI investment on firm market value remains to be further empirically examined, and it is also worth investigating whether firm age and capital expenditures have moderating effects on this relationship. This study focuses on 81 publicly listed companies in the semiconductor industry (SIC 3674) from 2014 to 2024, using data from the World Intellectual Property Organization (WIPO) patent database to obtain the number of AI-related patents for each company as a proxy for AI investment. Firm age and capital expenditures are incorporated as moderating variables, and firm market value serves as the primary performance indicator to explore the effect of AI investment on firm market value.
The empirical results indicate that AI investment has a positive and significant impact on firms’ market value, with the effect being more pronounced in older firms. However, when capital expenditures are higher, the marginal positive effect of AI patents on market value becomes weaker. These findings help clarify the actual benefits of AI investment for firms’ market value and provide useful implications for managerial decision-making regarding AI-related investments. |
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| Description: | 碩士
國立政治大學
科技管理與智慧財產研究所
112364133 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0112364133 |
| Data Type: | thesis |
| Appears in Collections: | [科技管理與智慧財產研究所] 學位論文
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