人工智能、数字金融、绿色创新

IF 5.5 2区经济学 Q1 BUSINESS, FINANCE

Global Finance Journal Pub Date : 2024-12-26 DOI:10.1016/j.gfj.2024.101072

Yang Song , Yue Zhang , Zhipeng Zhang , Jean-Michel Sahut

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引用次数: 0

摘要

绿色创新固有的高风险和不确定性给传统金融工具带来了挑战。在这种背景下，人工智能有潜力通过利用其在数据分析和风险预测方面的优势，加强企业的绿色创新努力和财务效率。然而，人工智能影响的具体影响和潜在机制仍未得到充分探索。本研究采用双向固定效应模型对2011 - 2020年688家中国a股公司的数据进行分析，探讨人工智能对企业绿色创新机制的影响。我们的研究结果表明，人工智能主要通过增强数字金融来推动绿色创新。此外，我们从数字金融覆盖、企业现金流、企业成长和区域环境质量四个维度考察了人工智能对绿色创新的促进作用。研究结果表明，人工智能对绿色创新的贡献显著，尤其是在数字金融发达、自由现金流充裕、高成长企业和环境质量较差的地区。这些发现为寻求利用人工智能和数字金融有效推动绿色创新的企业和政策制定者提供了有用的指导。

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Artificial intelligence, digital finance, and green innovation

The high risks and uncertainties inherent in green innovation present challenges for traditional financial tools. Against this backdrop, AI has the potential to enhance both corporate green innovation efforts and financial efficiency by leveraging its strengths in data analysis and risk prediction. Nevertheless, the specific impacts and underlying mechanisms of AI's influence remain insufficiently explored. This study employs a two-way fixed-effects model to analyze data from 688 Chinese A-share companies from 2011 to 2020 to explore how AI influences corporate green innovation mechanisms. Our findings reveal that AI drives green innovation, mainly by enhancing digital finance. Moreover, we investigate AI's facilitating effects on green innovation across four dimensions: digital finance coverage, corporate cash flow, corporate growth, and regional environmental quality. The results indicate that AI contributes significantly to green innovation, especially within regions characterized by advanced digital finance, firms with abundant free cash flow, high-growth companies, and areas with lower environmental quality. These findings provide useful guidance for businesses and policymakers seeking to harness AI and digital finance to effectively drive green innovation.

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来源期刊

Global Finance Journal BUSINESS, FINANCE-

CiteScore

7.30

自引率

13.50%

发文量

106

审稿时长

53 days

期刊介绍： Global Finance Journal provides a forum for the exchange of ideas and techniques among academicians and practitioners and, thereby, advances applied research in global financial management. Global Finance Journal publishes original, creative, scholarly research that integrates theory and practice and addresses a readership in both business and academia. Articles reflecting pragmatic research are sought in areas such as financial management, investment, banking and financial services, accounting, and taxation. Global Finance Journal welcomes contributions from scholars in both the business and academic community and encourages collaborative research from this broad base worldwide.