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Artificial intelligence investment, data factor accumulation, and enterprise digital transformation performance

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  • Bai, Ling
  • Cui, Dengfeng

Abstract

This paper delves into the impact of artificial intelligence investment and data factor accumulation on enterprise digital transformation performance. Drawing on a comprehensive dataset of listed enterprises from 2010 to 2024, we generate robust evidence that AI investment largely enhances firms’ digital transformation performance. The mechanism analysis reveals that data factor accumulation serves as a crucial economic channel. Furthermore, the positive role of AI investment is larger among enterprises with higher technological absorptive capacity and in industries characterized by intensive digital competition. These conclusions contribute to the emerging literature on the digital economy and offer important policy implications.

Suggested Citation

  • Bai, Ling & Cui, Dengfeng, 2026. "Artificial intelligence investment, data factor accumulation, and enterprise digital transformation performance," Finance Research Letters, Elsevier, vol. 92(C).
    • Handle: RePEc:eee:finlet:v:92:y:2026:i:c:s1544612326001042
    DOI: 10.1016/j.frl.2026.109573
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    References listed on IDEAS

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