How Does Artificial Intelligence Affect Corporate Innovation Behavior?From the Perspective of Asset Specificity
At present,China faces the dual challenge of the widespread application of arti-ficial intelligence(AI)and insufficient innovation vitality in enterprises.Investigating the re-lationship between AI and corporate innovation behavior holds significant theoretical and practical implications.This paper,adopting the perspective of asset specificity,utilizes data from 4436 listed companies in China to construct a multi-dimensional fixed effects model to examine the impact of AI on corporate innovation behavior.The study finds that the development and application of AI have a significant crowding-out effect on corporate inno-vation behavior.This conclusion remains robust even after excluding various possible mechanisms,and the impact is stronger in the northeastern region,non-state enterprises,small-scale enterprises,and high-tech enterprises.Mechanism analysis indicates that AI af-fects corporate innovation behavior through the substitution of R&D personnel and specific fixed assets.The findings of this study provide valuable references for the government and enterprises to understand industry transformation trends,rationally view and apply AI tech-nology,and correctly grasp new opportunities for corporate development.
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