The 'Intelligent Trap' in Corporate Finance—A Study Based on New Energy Vehicle Enterprises
DOI:
https://doi.org/10.65455/ynxpph07Keywords:
Artificial Intelligence, Financial Risk, New Energy Vehicles, Machine LearningAbstract
AI, as an emerging productive technology, has been widely adopted in production by technology and manufacturing firms engaged in cutting-edge product development. Academic research often incorporates corporate AI capability to examine its contributions to innovation, performance, and sustainable growth. However, in practice, many automotive firms, especially those developing new energy and intelligent vehicles, have suffered financial distress and even exited the market, attracting widespread concern.This study empirically investigates how AI dependence affects corporate financial risk using a sample of listed new energy vehicle and automobile manufacturers from 2013 to 2023. Results of data analysis show that AI dependency reduces financial safety and Moderation and Heterogeneity tests further reveal that strong knowledge or intelligent equipment output and patent transformation effectively mitigate such risks.Findings suggest that: (1) High AI dependency disclosed in financial reports does not improve financial health and may even endanger it; (2) AI can worsen financial and market performance if it crowds out normal R&D; (3) Efficient conversion of R&D into technological barriers is key to avoiding the AI trap. Amid intense competition, new energy vehicle firms should prioritize R&D efficiency, translate innovation into stable returns, and maintain sound financial conditions.
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