Alumni Networks, Board Characteristics, and Artificial Intelligence Adoption: Evidence from Chinese Listed Companies

Alumni relationships are essential social capital that are significant in companies’ resource acquisition and information sharing. Using 2018 data from Chinese listed companies, this study examines the impact of the chairperson–alumni network on corporate artificial intelligence (AI) adoption. The results show that chairperson–alumni relations are positively associated with AI adoption. Moreover, the impact of chairperson–alumni networks on AI adoption may span industrial, administrative, and geographical boundaries. This study shows that chairperson–alumni networks can indirectly influence AI adoption by influencing board size. Finally, this study demonstrates the heterogeneity of the impact of the chairperson–alumni network on AI adoption.