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The performance implications of R&D collaborations on artificial intelligence

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  • Ming, Xin
  • Wang, Qiang
  • Liu, Yan

Abstract

With the increasing prevalence of cooperative research and development (R&D) in artificial intelligence (AI) among companies, the performance implications of these collaborations remain underexplored. This study examines the financial impact of AI-related R&D collaborations, focusing on how AI type, partnerships with top-tier technology companies, and digitalization capabilities moderate their effects on firm value. Analyzing announcements from Chinese firms between 2016 and 2023, we find a positive association between AI-related R&D collaborations and firm value, with this effect being particularly strong for collaborations on language/text understanding and with top-tier technology partners. However, this positive effect diminishes as firms’ digitalization capabilities increase. This research provides empirical evidence of the benefits of AI-related R&D collaborations and offers insights into how firms can maximize the value of such partnerships.

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  • Ming, Xin & Wang, Qiang & Liu, Yan, 2025. "The performance implications of R&D collaborations on artificial intelligence," Technovation, Elsevier, vol. 145(C).
    • Handle: RePEc:eee:techno:v:145:y:2025:i:c:s0166497225001038
    DOI: 10.1016/j.technovation.2025.103271
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