Evaluating Corporate Environmental Performance in the Context of Artificial Intelligence Implementation: The Contingent Roles of Ownership Type and External Monitoring
基于中国A股上市公司2010-2019年数据，研究发现人工智能应用能显著提升企业环境绩效，且这种正向关系在国有企业和外部审计、分析师监督下更强，但媒体关注无显著调节作用。
ABSTRACT Corporate environmental performance (CEP) has emerged as a matter of topmost importance within the business domain, as organizations increasingly acknowledge the exigency of integrating sustainable practices into their core operational frameworks. Drawing from the natural resource‐based view, institutional, stakeholder, and legitimacy theories, this study hypothesizes a positive relationship for the impact of artificial intelligence (AI) on Chinese listed firms' CEP, moderated by the roles of state ownership (SOWN) and external stakeholders, i.e., external auditor (BIG4), financial analysts (FA), and media coverage (MC). The study analyzes a comprehensive dataset of 9033 firm‐year observations from Chinese A‐share listed firms on the Shanghai and Shenzhen stock exchanges over the period 2010–2019. AI is measured through computer‐assisted textual analysis of annual reports, while CEP is quantified using environmental responsibility scores from an independent rating agency (HEXUN‐RKS). Employing fixed effects panel regression models, empirical findings reveal a positive and significant relationship between AI and CEP. The results for moderation effects demonstrate that BIG4 and FA significantly strengthen the positive AI–CEP relationship, but MC does not. Moreover, the study's heterogeneity analyses indicate that the positive impact of AI on CEP is more pronounced in decision‐effective firms and highly competitive industries. Importantly, the main findings of the study were validated through instrumental variables, lag and lead models, two‐step system generalized method of moments, and an alternate proxy for CEP. The study contributes new insights on AI's environmental impacts in emerging economies like China undergoing digital transformation. It highlights how ownership structure and heightened external oversight compel firms to leverage AI for enhancing CEP.