文献类型：期刊文献

英文题名：Robots and analyst forecast precision: Evidence from Chinese manufacturing

作者：Cui, Huijie[1];Liang, Shangkun[2];Xu, Canyu[3];Junli, Yu[4]

机构：[1]Beijing Foreign Studies Univ, Int Business Sch, Beijing, Peoples R China;[2]Cent Univ Finance & Econ, Sch Accountancy, Beijing, Peoples R China;[3]East China Univ Sci & Technol, Sch Business, Shanghai, Peoples R China;[4]Shanghai Jiao Tong Univ, Sch Int & Publ Affairs, Shanghai 200030, Peoples R China

年份：2024

卷号：94

外文期刊名：INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS

收录：;WOS:【SSCI(收录号:WOS:001228200900001)】；

基金：National Natural Science Foundation of China Grant numbers: 72272164, 72302088, 72102018, 71872196; Fundamental Research Funds for the Central Universities Grant numbers: 2022TD001

语种：英文

外文关键词：Industrial robot; Analyst forecast; Operating efficiency; Information dissemination

摘要：This paper investigates whether industrial robot adoption in manufacturing industries improves subsequent analyst forecast performance. The evidence suggests that the adoption of industrial robots has a positive correlation with analyst forecast precision, reflected as lower analyst forecast bias and forecast dispersion. It is also found that enhancing total operating efficiency and promoting information dissemination are two possible channels through which industrial robot adoption improves analyst forecast precision. Furthermore, crosssectional analyses show that the positive link is more pronounced in more ex-ante uncertain firms and private firms. Overall, our paper provides comprehensive evidence for the industrial robot spillover effect on corporate activities.