Generative AI and firm values

AL Eisfeldt, G Schubert, MB Zhang - 2023 - nber.org
What are the effects of recent advances in Generative AI on the value of firms? Our study
offers a quantitative answer to this question for US publicly traded companies based on the …

Labor-force heterogeneity and asset prices: The importance of skilled labor

F Belo, J Li, X Lin, X Zhao - The Review of Financial Studies, 2017 - academic.oup.com
Previous studies have identified a negative relation between firms' hiring rates and future
stock returns in the cross-section. We document that this relation is significantly steeper in …

Employee turnover and firm performance: Large-sample archival evidence

Q Li, B Lourie, A Nekrasov… - Management Science, 2022 - pubsonline.informs.org
Employee turnover is a significant cost for businesses and a key human capital metric, but
firms do not disclose this measure. We examine whether turnover is informative about future …

Robots and firm investment

E Benmelech, M Zator - 2022 - nber.org
Automation technologies, and robots in particular, are thought to be massively displacing
workers and transforming the future of work. We study firm investment in automation using …

Local risk, local factors, and asset prices

S Tuzel, MB Zhang - The Journal of Finance, 2017 - Wiley Online Library
Firm location affects firm risk through local factor prices. We find more procyclical factor
prices such as wages and real estate prices in areas with more cyclical economies, namely …

[图书][B] Technology-skill complementarity and labor displacement: Evidence from linking two centuries of patents with occupations

L Kogan, D Papanikolaou, LDW Schmidt, B Seegmiller - 2021 - bryanseegmiller.com
We construct new technology indicators using textual analysis of patent documents and
occupation task descriptions that span almost two centuries (1850–2010). At the industry …

Is a college education still enough? The IT-Labor relationship with education level, task routineness, and artificial intelligence

D Zhang, G Peng, Y Yao… - Information Systems …, 2023 - pubsonline.informs.org
Although information technology (IT) is increasingly replacing human labor, the IT-labor
relationship is more nuanced than it appears. We examine the IT-labor relationship in terms …

Automation and reallocation: will COVID-19 usher in the future of work?

J Blit - Canadian Public Policy, 2020 - utpjournals.press
Recent evidence for the United States suggests that recessions play a crucial role in
promoting automation and the reallocation of productive resources, which in turn increase …

Economic stimulus at the expense of routine‐task jobs

S Tuzel, MB Zhang - The Journal of Finance, 2021 - Wiley Online Library
Do investment tax incentives improve job prospects for workers? We explore states'
adoption of a major federal tax incentive that accelerates the depreciation of equipment …

[HTML][HTML] Is hiring fast a good sign? The informativeness of job vacancy duration for future firm profitability

CW Chen, LY Li - Review of Accounting Studies, 2023 - Springer
Job vacancy duration reflects the time a firm spends searching, selecting, and hiring for a job
opening. Capturing vacancy duration using the creation and deletion dates of job postings …