【公开学术报告-第149期】Transitioning to a Net-Zero Future: Investor Reactions to Stranded Assets and AI-Driven Strategies

Transitioning to a Net-Zero Future: Investor Reactions to Stranded Assets and AI-Driven Strategies

【迈向净零未来：投资者对搁浅资产与人工智能战略的反应】

Speaker: Pianpian Huang (Ph.D. candidate in Accounting, Nanyang Technological University)

Date & Time: Thur. 27^th, November 2025, from 10:00 to 11:30 (Beijing Time)

Place: Tongji Building A2101 

ABSTRACT

During the transition to a net-zero economy, a key question is how firms manage potential stranded assets (i.e., assets that can no longer generate their originally projected economic benefits). Meanwhile, firms are increasingly leveraging AI for climate-related strategic decisions, and investors are demanding greater transparency on AI use in business operations. This study experimentally examines how investors react to firms disclosing stranded asset write-downs (versus no write-downs), and whether investor reactions vary by the asset decision driver (AI or human manager). I predict and find that investors react more positively to stranded asset write-downs (versus no write-downs) when the decision is driven by AI, and this effect is not significant when a human manager drives the decision. Process evidence shows that the interaction effect is explained by investor perceptions of the decision driver’s ability to consider emotions and feelings. These findings offer practical insights for managers and standard setters regarding the stranded asset risk disclosure and AI disclosure in strategic decision-making.

Keywords: net-zero transition; stranded assets; asset write-downs; AI disclosure; investor reactions