From AI Policy to Corporate Strategic Change: Evidence on Firm-Size Heterogeneity from China’s AI Pilot Zones
Artificial intelligence (AI) pilot-zone policies aim to expand firms’ technological opportunities, yet their relationship with changes in internal resource allocation remains unclear. Using 15,989 firm-year observations from 2377 nonfinancial Chinese A-share listed firms during 2016–2024, this study employs the Callawa...