Industrial robots and corporate risk-taking value

Guifang Pu, Yanxiang Xie, Lidong Wu and Kai Wang

Finance Research Letters, 2024, vol. 70, issue C

Abstract: This paper empirically examines the impact of industrial robot application on corporate risk-taking value using data from Chinese A-share listed manufacturing companies, measured by the Sharpe ratio. The findings indicate that industrial robots significantly enhance corporate risk-taking value through information effects, innovation, and production optimisation. Heterogeneity tests reveal that firms with higher capital density, non-state ownership, lower financing constraints, and more government subsidies experience a more substantial increase in their risk-taking value. These insights contribute to understanding the evolution of enterprise risk decisions in industrial intelligence and provide theoretical references for policies promoting industrial development.

Keywords: Industrial robotics applications; Risk-taking value; Mechanism testing; Scenario analysis; Spillover effects (search for similar items in EconPapers)
JEL-codes: D22 G32 G34 O14 O33 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324012819

DOI: 10.1016/j.frl.2024.106252

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