The intensity of media supervision and adjustments in corporate financialization strategies: The catalytic role of artificial intelligence technology

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-06-15 DOI:10.1016/j.frl.2025.107788

Keqing Ma , Shan Jiang , Di Wu

引用次数: 0

Abstract

This study examines non-financial listed companies in China from 2007 to 2023 to investigate the impact of media supervision intensity on corporate financialization, as well as the moderating role of artificial intelligence (AI) in this relationship. The results indicate that stronger media supervision significantly restrains corporate financialization, with this effect varying between loss-making and profit-making firms. Furthermore, AI technology serves as a significant moderator in this relationship, exhibiting distinct effects in high-tech and non-high-tech companies. This research not only deepens the theoretical understanding of corporate financialization but also offers practical insights for strategic decision-making amid evolving media oversight and technological advancement.

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媒体监管力度与企业金融化战略调整：人工智能技术的催化作用

本研究以2007 - 2023年中国非金融类上市公司为研究对象，探讨媒体监管强度对企业金融化的影响，以及人工智能在这一关系中的调节作用。结果表明，加强媒体监管对企业金融化具有显著的抑制作用，且这种抑制作用在亏损企业和盈利企业之间存在差异。此外，人工智能技术在这一关系中起着重要的调节作用，在高科技和非高科技公司中表现出不同的效果。本研究不仅深化了对企业金融化的理论认识，也为媒体监管和技术进步背景下的战略决策提供了实践见解。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance