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Artificial intelligence, supply chain finance, and corporate investment efficiency

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  • Liu, Yanfang
  • Hu, Ruijun

Abstract

This paper takes Chinese A-share listed companies from 2013 to 2023 as a sample, quantifies the forward-looking nature of AI strategies in corporate annual reports through text mining techniques, and empirically examines the mechanism by which AI technology influences corporate investment efficiency. The study finds that: artificial intelligence significantly enhances corporate investment efficiency; the mediation effect test shows that AI significantly alleviates corporate financing constraints by reconstructing the supply chain finance ecosystem; AI also boosts corporate investment efficiency by increasing the proportion of highly educated personnel.

Suggested Citation

  • Liu, Yanfang & Hu, Ruijun, 2025. "Artificial intelligence, supply chain finance, and corporate investment efficiency," Finance Research Letters, Elsevier, vol. 85(PA).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pa:s1544612325011092
    DOI: 10.1016/j.frl.2025.107851
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    References listed on IDEAS

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    Cited by:

    1. Yang, Liguo & Li, Jingjing & Liu, Xintong, 2026. "Can corporate data assets gain preference? Evidence from supply chain financing," Finance Research Letters, Elsevier, vol. 89(C).
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    3. Gao, Pengqun & Wang, Guangyu & Li, Yinxia, 2026. "How can artificial intelligence break through technological blockades? - evidence from China," Finance Research Letters, Elsevier, vol. 90(C).
    4. Li, Jianan & Guo, Yunlong & Wei, Lei & Niu, Xiaoxiao & Li, Wentong, 2026. "Patient capital and supply chain resilience in manufacturing enterprises: An analysis from the perspectives of funding, governance, and innovation," International Review of Financial Analysis, Elsevier, vol. 110(C).
    5. Zheng, Kai & Ruan, Yongping & He, Yanan, 2025. "Artificial intelligence investment, executive digital background, and stock price synchronization," Finance Research Letters, Elsevier, vol. 86(PE).

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