人工智能应用对企业创新的影响研究 ——来自中国A股上市公司的证据

Research on the impact of artificial intelligence application on enterprise innovation ——Evidence from China's A-share listed companies

摘要:

基于2009~2020年中国A股主板上市公司面板数据，构建知识、人才、资本分析框架，检验人工智能对企业创新的影响及作用机制。研究发现，（1）人工智能对企业创新有显著的正向影响，这一结果在一系列稳健性检验后仍然成立。（2）机制检验表明，人工智能可以促进知识溢出、人力资本结构升级、创新要素配置优化，这些效应共同对企业创新施加了积极影响。（3）人工智能对自主创新和合作创新模式均有显著地正向影响，且对自主创新的影响作用更大。（4）进一步检验表明，提升效应具有异质性，在技术属性层面，人工智能技术对于非高科技企业的促进作用更明显，在媒体关注度层面，对于媒体关注度高的企业具有促进作用，在研发强度层面，对于高研发投入企业具有创新促进作用。

Abstract:

Based on the panel data of China's A-share main board listed companies from 2009 to 2020 , construct an analysis framework of knowledge, talent and capital , examine the impact and mechanism of artificial intelligence on enterprise innovation from A micro perspective. It is found that (1) Artificial intelligence has a significant positive impact on enterprise innovation, and this result is still valid after a series of robustness tests. (2) Mechanism test shows that AI can promote knowledge spillover, human capital structure upgrading, and innovation factor allocation optimization, and these effects jointly exert a positive impact on enterprise innovation. (3) AI has a significant positive impact on both independent innovation and cooperative innovation models, and the impact on independent innovation is more significant. (4) Further tests show that the promotion effect is heterogeneous. At the technical attribute level, AI technology has a more obvious promoting effect on non-high-tech enterprises; at the media attention level, it has a promoting effect on enterprises with high media attention; at the R&D intensity level, it has a promoting effect on enterprises with high R&D investment.