Artificial intelligence adoption and credit ratings

被引：0
|
作者：
Xu, Guoquan [1 ]
Li, Xin [2 ]
Li, Siyuan [3 ]
Tong, Yan [4 ]
机构：
[1] Beijing Foreign Studies Univ, Int Business Sch, Beijing, Peoples R China
[2] Southwest Univ Finance & Econ, Sch Accounting, Chengdu, Peoples R China
[3] Peking Univ, HSBC Business Sch, Shenzhen, Peoples R China
[4] Beijing Inst Technol, Sch Management, 5 South Zhongguancun St, Beijing 100081, Peoples R China
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2024年
关键词：
Enterprise digital transformation; artificial intelligence adoption; credit rating; bond; capital market; MANAGERIAL ABILITY; INFORMATION; MANAGEMENT; EARNINGS; IMPACT; COST;
D O I：
10.1080/16081625.2024.2425852
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using 6,566 observations of bond credit ratings in China from 2010 to 2022, this paper empirically finds that artificial intelligence (AI) adoption by firms improves bond credit ratings via improving productivity and information transparency. Such a positive relationship is more pronounced when the issuers are non-state-owned enterprises, labor-intensive enterprises, or engage heavily in earnings management. This study enriches the literature of the influencing factors of credit ratings and the economic consequences of AI adoption. Furthermore, this study offers insights for enterprises seeking to leverage AI for reduced financing costs, and sheds light on future digital policy design.
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页数：15
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