Research on interaction of innovation spillovers in the AI,Fin‑Tech,and IoT industries:considering structural changes accelerated by COVID‑19  

作　　者：Chi‑Ming Ho 

机构地区：[1]Department of Finance,Southern Taiwan University of Science and Technology,Tainan,Taiwan

出　　处：《Financial Innovation》2023年第1期204-232,共29页金融创新（英文）

摘　　要：This paper aims to probe the influence of innovation spillovers in the artificial intelligence(AI)and financial technology(Fin-tech)industries on the value of the internet of things(IoT)companies.Python was utilized to download public information from Yahoo Finance,and then the GARCH model was used to extract the fluctuations of cross-industry innovation spillovers.Next,the Fama–French three-factor model was used to explore the interactive changes between variables.The panel data regression analysis indicates that the more firms accept innovation spillovers from other industries,the better the excess return;however,this effect differs because of industrial attributes and the environmental changes induced by COVID-19.Additionally,this study finds that investing in large-cap growth stocks of IoT firms is more likely to yield excess returns.Finally,the study yields lessons for policy leverage to accelerate the upgrading and transformation of innovation-interactive industries by referring to the practices of Singapore and South Korea.

关 键 词：AI Covid-19 Fin-Tech Innovation spillover IOT 

分 类 号：G12[文化科学] O14[理学—数学] O23[理学—基础数学] O33