Driving factors of capital allocation efficiency in the artificial intelligence industry in China– the perspective of a financing ecosystem

Chengxuan Geng, Ke Xu and Xiaoshu Wei

Asia-Pacific Journal of Accounting & Economics, 2023, vol. 30, issue 5, 1246-1263

Abstract: Based on a comprehensive consideration of financing ecological factors, this study constructs a financing ecosystem and capital allocation efficiency model to simulate the driving factors of capital allocation efficiency in the artificial intelligence (AI) industry. Our findings show that the capital allocation efficiency of the AI industry is expected to gradually decrease. Among the various components of the financing ecosystem, capital allocation efficiency is most sensitive to human capital quality, followed by the development of banking, marketisation level, degree of government intervention, and opening-up level. Finally, suggestions for optimising the financing ecosystem and improving capital allocation efficiency are presented.

Date: 2023
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DOI: 10.1080/16081625.2022.2054832

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Asia-Pacific Journal of Accounting & Economics is currently edited by Yin-Wong Cheung, Hong Hwang, Jeong-Bon Kim, Shu-Hsing Li and Suresh Radhakrishnan

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