Corporate Digital Transformation and Information Disclosure Quality: An Empirical Study from the Perspective of Information Effect
Corporate Digital Transformation and Information Disclosure Quality: An Empirical Study from the Perspective of Information Effect

Summary/Abstract: Based on panel data of A-share listed companies in China from 2015 to 2023, this study empirically examines the impact of corporate digital transformation on the quality of information disclosure, focusing on the underlying mechanism of the information effect. The findings reveal that digital transformation significantly improves the quality of information disclosure, and this effect remains robust after addressing endogeneity and conducting a series of robustness checks. Further analysis suggests that digital transformation enhances the transparency and reliability of information disclosure by improving internal control quality and reducing information asymmetry, thereby exerting a significant information effect. Moreover, heterogeneity analysis indicates that the positive impact of digital transformation on disclosure quality is more pronounced among stateowned enterprises, non-high-tech firms, and large-scale enterprises. This study provides empirical evidence for policymakers and corporate managers on leveraging digital transformation to enhance information disclosure quality.

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