Driving factors of capital allocation efficiency in the artificial intelligence industry in China– the perspective of a financing ecosystem

IF 1.4 4区经济学 Q3 BUSINESS, FINANCE

Asia-Pacific Journal of Accounting & Economics Pub Date : 2022-03-20 DOI:10.1080/16081625.2022.2054832

Cheng-xuan Geng, Ke Xu, Xiaoshu Wei

引用次数: 0

Abstract

ABSTRACT Based on a comprehensive consideration of financing ecological factors, this study constructs a financing ecosystem and capital allocation efficiency model to simulate the driving factors of capital allocation efficiency in the artificial intelligence (AI) industry. Our findings show that the capital allocation efficiency of the AI industry is expected to gradually decrease. Among the various components of the financing ecosystem, capital allocation efficiency is most sensitive to human capital quality, followed by the development of banking, marketisation level, degree of government intervention, and opening-up level. Finally, suggestions for optimising the financing ecosystem and improving capital allocation efficiency are presented.

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中国人工智能产业资本配置效率的驱动因素——基于融资生态系统的视角

摘要在综合考虑融资生态因素的基础上，构建融资生态系统与资本配置效率模型，模拟人工智能产业资本配置效率驱动因素。我们的研究结果表明，人工智能行业的资本配置效率预计将逐步降低。在融资生态系统的各个组成部分中，资本配置效率对人力资本质量最为敏感，其次是银行业发展程度、市场化程度、政府干预程度和对外开放程度。最后，提出了优化融资生态系统、提高资本配置效率的建议。

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

Asia-Pacific Journal of Accounting & Economics Multiple-

CiteScore

2.40

自引率

9.10%

发文量

期刊介绍： The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.