The Impacts of Artificial Intelligence Technology and Enterprise Market Power
With the rapid development of artificial intelligence technology and its deep integration with the real economy,research on its specific impacts on corporate behavior and performance has become a focus.However,the existing studies have not conducted in-depth investigations into its impacts on the evolution of enterprise market power.Using data of China's listed companies from 2007 to 2022,the present paper thoroughly analyzes the impacts of AI technology on enterprise market power and their underlying mecha-nisms.It further examines the heterogeneity of the impacts from the dimensions of enterprise technologi-cal attributes and enterprise features.The findings reveal that the AI technology can significantly enhance the power in question.This conclusion remains valid after endogenous problems are addressed and robustness tests conducted.Besides,AI can boost collaborative innovation by improving enterprise innovation quality and expanding collaboration network,which can eventually produce the effect of enhancing the power.The heterogeneous analysis indicates that,from the dimension of enterprise technological attributes,the key and breakthrough AI technologies have greater impacts on the power when they are highly fused with digital tech-nology.From the dimension of enterprise features,large and medium-sized enterprises and the enterprises with more R&D investment and diversified operations are more likely to leverage AI to enhance the power.
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