Artificial intelligence and corporate investment efficiency: Evidence from China

IF 4.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2025-05-31 DOI:10.1016/j.ememar.2025.101314

Liangcheng Wang, Yizheng Chen

引用次数: 0

Abstract

Artificial intelligence technology provides new solutions to management problems and plays an important role in investment decision-making. In this study, we explore the effect of artificial intelligence on corporate investment. Using a sample from China, we find that artificial intelligence improves corporate investment efficiency by enhancing internal control and ESG performance. This finding is particularly pronounced in firms with high artificial intelligence application proficiency and without state ownership. Finally, our findings demonstrate that AI could influence corporate investment decisions, encouraging firms to engage in risky investment behaviours. Our findings have implications for firms to adopt artificial intelligence to optimise investment.

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人工智能与企业投资效率：来自中国的证据

人工智能技术为管理问题提供了新的解决方案，在投资决策中发挥着重要作用。在本研究中，我们探讨了人工智能对企业投资的影响。以中国为例，我们发现人工智能通过增强内部控制和ESG绩效来提高企业投资效率。这一发现在人工智能应用熟练程度高且没有国有的公司中尤为明显。最后，我们的研究结果表明，人工智能可以影响企业的投资决策，鼓励企业从事风险投资行为。我们的研究结果对企业采用人工智能来优化投资具有启示意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.