Technological Asymmetries and Financial Performance of Industrial Joint‑Stock Companies: AI‑Driven Risk Factors and Efficiency in Capital Management

This article examines how technological asymmetries—understood as differences in access to advanced digital tools, AI capabilities and IT infrastructure—shape the financial stability and market performance of enterprises of various sizes. The study integrates comparative analyses of 100 industrial joint-stock companies from multiple countries, including technologically advanced large corporations and innovative SMEs, to assess how disparities in digitization and AI implementation influence financial resilience. Using multivariate regression models and index-based financial metrics such as MC, EV, P/E, PEG, P/S, P/B, EV/R and EV/EBITDA, the research identifies relationships between technological advancement, operational efficiency and risk exposure. The findings indicate that companies with higher levels of digitization and AI adoption demonstrate stronger resistance to market disruptions, more effective risk management and more favorable capital structures than SMEs with limited technological resources. However, restricted access to detailed operational data for smaller firms may affect the precision of comparative assessments. The study concludes that investments in digital competences and international cooperation enhance financial stability and support strategic decision-making, while SMEs play an important complementary role by providing outsourcing services that facilitate AI implementation in larger corporations.