Embracing Artificial Intelligence: How Does Intelligent Transformation Affect the Technological Innovation of New Energy Enterprises?
基于2011-2022年中国145家A股上市公司数据，研究发现智能转型显著推动新能源企业技术创新，数字金融发展和信息技术背景高管起正向调节作用，政府补贴、内控质量和人力资本升级是关键渠道，但智能转型对邻近企业有负向空间溢出效应。
Artificial intelligence (AI) technology is profoundly reshaping the new energy sector, demonstrating significant potential in optimizing decision-making, enhancing operational efficiency, and boosting productivity. However, existing literature offers limited insight into how AI facilitates innovation within new energy enterprises. Using data from 145 Chinese A-share listed companies from 2011 to 2022, this study employs a staggered difference-in-differences model to investigate the impact of intelligent transformation on technological innovation in new energy enterprises. The results show that: 1) Intelligent transformation significantly drives technological innovation in new energy enterprises, with digital financial development and the presence of senior executives with information technology backgrounds serving as positive moderating factors; 2) Attracting government subsidies, improving internal control quality, and promoting human capital upgrades serve as critical channels through which intelligent transformation in new energy enterprises generates innovation incentive effects; and 3) Intelligent transformation generates adverse spatial spillover effects on the technological innovation of neighboring enterprises, mainly through the siphoning of innovation resources. Neighboring new energy enterprises within the same subindustry face stronger negative spillovers, while enterprises with greater market power are less affected. These insights inform targeted policy recommendations to address these dynamics.