Ioannis Lakkas

School of Social Sciences, Hellenic Open University, Greece

Alexandros Koulis
School of Social Sciences, Hellenic Open University, Greece

Constantinos Kyriakopoulos

Department of Mathematics, National and Kapodistrian University of Athens, Greece

Abstract

As artificial intelligence (AI) has recently gained popularity due to advancements in computational infrastructure and model development, businesses and organizations have begun adopting it at an accelerated pace. AI encapsulates many sub-categories and is used as an umbrella term for a wide and heterogeneous range of business applications, scholarly understanding of its impact on firm value remains limited. Existing research has largely treated AI as a static technological capability and the need for continuing evaluation of its impact on firm value is prominent as technology evolves.

One of the latest advancements of modern AI is AI agents, these are intelligent systems that perceive their environment, process information, and autonomously take actions to achieve specific goals. This study examines investors’ reactions to Agentic AI investment initiatives using event study methodology applied to a sample of 158 relevant announcements by U.S.-listed firms.

To the best of our knowledge, this research is one of the first to empirically examine the firm value impact of the rapidly emerging Agentic AI paradigm on the field of AI and business research.

JEL Classification: G14; O33; M15; O31.