人工智能技术应用对物联网产业成长性的影响——来自409家A股上市公司截面数据的实证证据

The Impact of Artificial Intelligence Applications on the Growth of the Internet of Things Industry—Empirical Evidence from Cross-Sectional Data of 409 A-Share Listed Companies

摘要: 人工智能技术正凭借颠覆性的技术特质深刻重塑各产业发展逻辑，物联网产业作为数字经济的关键载体，其智能化转型及成长性受到广泛关注。本文选取2024年409家中国A股物联网相关上市公司为样本，采用熵权法从财务、市场和抗风险三个维度构建企业成长性综合指标，实证检验人工智能技术应用对物联网企业成长性的影响，并进一步考察该影响的异质性特征与调节机制。研究发现：人工智能技术应用对物联网企业成长性具有显著促进作用，在替换核心解释变量和被解释变量、增加控制变量等稳健性检验后该结论依旧成立。异质性分析表明，相较于应用层人工智能技术，基础层人工智能技术对企业成长的贡献更显著；拥有海外背景高管的企业与非国有企业的成长性提升效应相对更强。通过调节效应分析，业务复杂度与管理效率在人工智能技术应用作用于企业成长性的过程中发挥显著调节作用。上述结论为物联网企业优化技术应用策略、政府制定产业扶持政策提供了微观层面的经验证据与实践参考。

Abstract: Artificial intelligence technology, through its disruptive technological characteristics, is profoundly reshaping the development logic of various industries. As a key pillar of the digital economy, the Internet of Things (IoT) industry has attracted widespread attention regarding its intelligent transformation and growth potential. This study selects 409 Chinese A-share listed companies related to the IoT sector in 2024 as its sample. Using the entropy-weighted method, it constructs a comprehensive growth index for enterprises across three dimensions—financial, market, and risk resilience—to empirically examine the impact of artificial intelligence technology applications on the growth of IoT enterprises, and further investigates the heterogeneity and moderating mechanisms of this impact. The study found that the application of AI technology significantly promotes the growth of IoT enterprises; this conclusion remains valid after robustness tests, including substituting core explanatory and dependent variables and adding control variables. Heterogeneity analysis indicates that, compared to AI technology at the application layer, AI technology at the infrastructure layer makes a more significant contribution to enterprise growth; enterprises with executives of foreign origin and non-state-owned enterprises exhibit relatively stronger growth enhancement effects. Analysis of moderating effects indicates that business complexity and management efficiency play significant moderating roles in the process by which the application of AI technology influences enterprise growth. The above research findings provide micro-level empirical evidence and practical guidance for IoT enterprises to optimize their technology application strategies and for governments to formulate industry support policies.