Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 33 , 10 November 2023


Open Access | Article

The Impact of Chatgpt Concept on the Share Price of Listed Companies

Qiushi Chen 1 , Ziyue Yang 2 , Yueheng Zhong * 3
1 Suzhou City University
2 Tongji Zhejiang College
3 Guangzhou College of Commerce

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 33, 61-72
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Qiushi Chen, Ziyue Yang, Yueheng Zhong. The Impact of Chatgpt Concept on the Share Price of Listed Companies. AEMPS (2023) Vol. 33: 61-72. DOI: 10.54254/2754-1169/33/20231636.

Abstract

ChatGPT, an artificial intelligence bot, has recently been launched and has attracted a lot of attention from all over the world. Investors in the market have also been paying attention to ChatGPT, a new artificial intelligence robot. At the same time, many people in academia have also started to study the impact of the emergence of ChatGPT on the stock prices of AI listed companies. In this paper, we study the impact of ChatGPT emergence on the stock price volatility of two AI listed companies by selecting two AI listed companies for analysis, namely, KDDI and CloudTech. The event window period selected for analysis in this paper is 20 days.And the excess cumulative returns of the two companies are compared and analyzed through the time period before and after the ChatGPT event. The results of the analysis show that the excess return of ChatGPT on both companies is positive, which indicates that the emergence of ChatGPT has a positive effect on the share prices of both KDDI and CloudFocus. It shows that the emergence of ChatGPT has a positive impact on the stock prices of AI companies in China.

Keywords

artificial intelligence, KDDI, cloud from technology, ChatGPT, share price volatility

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-087-5
ISBN (Online)
978-1-83558-088-2
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/33/20231636
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated