AIORG-W016 Peer-reviewed research

Artificial Intelligence, Firm Growth, and Product Innovation

Journal of Financial Economics 103745

peer reviewed journal article

Recorded claims
2
coded from the inspected source
Evidence classes
1
independent-empirical
Recorded limitations
4
stated, never hidden

From the wave-0 evidence ledger

Recorded claims

Each claim states what the inspected source says, at the recorded location—bounded by its scope and graded by its confidence. Nothing here is a synthesis across works.

Firms with greater resume-measured AI investment experienced higher sales, employment, and market valuation and introduced more product innovations, with patterns strongest among larger firms.

confidence: medium-high independent-empirical

Scope: US firms and broad AI investment in the study period; association/quasi-experimental evidence, not GenAI-native structure.

The authors use variation in local university AI talent supply as an instrument and interpret product innovation as an important channel, but resume-based measurement and exclusion assumptions leave residual causal uncertainty.

confidence: medium independent-empirical

Scope: Study firms, talent measure, and instrument validity; not a randomized organizational intervention.

Boundaries

Limitations & independence

Recorded at coding time, carried with the work forever. A claim without its limits is not evidence.

Recorded limitations

  • AI investment inferred from worker resumes
  • AI-intensive firms may select into talent and markets
  • Instrumental-variable assumptions are contestable
  • Broad AI period, not specifically generative AI

Source independence

Academic firm-level study using resume-based AI investment and firm data; no single vendor controls outcomes.