A working paper on generative AI and firm value
Seiryu Ando's working paper was first posted on SSRN on July 13, 2026. The manuscript is dated July 9, 2026; this announcement uses the SSRN posting date.
From Tokens to Firm Value: A Financial Framework for Token-to-Profit Conversion in Generative AI Adoption
Connecting AI use to financial outcomes
The paper proposes Token-to-Profit Conversion to explain how AI-supported work can translate into financial outcomes. It distinguishes spending on AI systems from the organizational capability to use them effectively.
Explore the research
Read the overview or open the original working paper on SSRN.