Prof. Roni Michaely wins the best research paper award at the Finance Symposium 2024

Prof. Roni Michaely and coauthors’ research “Producing AI Innovation and Its Value Implications”, won the best research paper award at the Finance Symposium 2024. The research offers a roadmap for understanding the far-reaching impacts of the artificial intelligence (AI) revolution on innovation, corporate strategy, and firm value. By examining the activities of U.S. publicly traded firms, it is discovered that AI accounts for a rapidly growing share of innovative work in the last 30 years (1990-2020), with a record of 25% by scientific value and 35% by commercial value.

AI accounts for a significant and rapidly growing share of innovative work produced over the past 30 years
Firms strategically align their R&D efforts to capitalise on the AI boom, driven by their own and their customers’ exposure to the powerful technology
AI production signifies higher profitability and lower risk, leading to major increases in a firm’s future stock returns

Find out more of these critical insights: https://bit.ly/3WmEac7

In response to geopolitical headwinds and shifting global trade dynamics, HKU Business School hosted the Edward K Y Chen Distinguished Lecture 2026 at HKU Loke Yew Hall on 7 October 2026, with Professor Mari Elka PANGESTU, Special Envoy of the President of the Republic of Indonesia for International Trade and Multilateral Cooperation; and Vice Chair of the National Economic Council serving as the keynote speaker. Addressing nearly 500 distinguished leaders from the business, academic and public‑affairs community attending online and in person, Professor PANGESTU shared key strategies to safeguard ASEAN economies from global fragmentation, under the theme of ‘‘Navigating Asian Economies amidst a Challenging Geopolitical Landscape’’.

Press Release

Prof. Roni Michaely wins the best research paper award at the Finance Symposium 2024