The Impact of Artificial Intelligence on Corporate Green Value Co-Creation: Empirical Evidence from China’s Manufacturing Industry

Against the dual demands of green transformation and digital integration in the manufacturing industry, green value co-creation has become a core pathway for enterprises to achieve sustainable development. However, the role of artificial intelligence (AI) in driving green value co-creation remains under explored, especially in the context of Chinese manufacturing. To enrich this research, this study aims to investigate the impact of AI development on corporate green value co-creation and its intrinsic mechanism. This study draws on panel data of listed manufacturing enterprises listed on China’s Shanghai and Shenzhen A share markets spanning the period 2015–2024, and employs multiple regression and negative binomial regression as research methodologies to empirically examine the impact of AI development on corporate green value co-creation and its underlying mechanisms. The results demonstrate that: AI development exerts a significantly positive effect on manufacturing enterprises’ green value co-creation, which is achieved by enhancing firms’ technological spillover capacity and total factor productivity (TFP); financing constraints negatively moderate the aforementioned relationship, while corporate influence plays a positive moderating role; heterogeneity analysis reveals that this impact is more pronounced for enterprises under voluntary regulation, state-owned enterprises (SOEs), and high-pollution enterprises. This study elucidates AI’s role and mechanism in corporate green development at the micro level, provides empirical evidence for related research, and offers practical insights to promote enterprise AI advancement and green value co-creation.