Does corporate digital transformation improve capital market transparency? Evidence from China

IF 3.8 3区经济学 Q1 BUSINESS, FINANCE

North American Journal of Economics and Finance Pub Date : 2025-01-01 DOI:10.1016/j.najef.2025.102363

Bin Gao , Mimi Qin , Jun Xie

引用次数: 0

Abstract

Digital transformation empowers enterprises with new kinetic energy for high-quality development. Can digital transformation enhance the transparency of the capital market? This study constructs a digital transformation index and examines its impact on the information transparency of Chinese listed companies from the perspective of information senders. We find that digital transformation significantly enhances enterprise information transparency, and the relationship is more pronounced in non-technological enterprises, enterprises with high ownership concentration, and enterprises with high levels of intellectual property protection. Channel tests show that reducing management myopia and increasing news media supervision are possible mechanisms. Overall, our findings provide critical insights for improving the transparency construction of China’s capital market.

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来源期刊

North American Journal of Economics and Finance Multiple-

CiteScore

7.30

自引率

8.30%

发文量

168

期刊介绍： The focus of the North-American Journal of Economics and Finance is on the economics of integration of goods, services, financial markets, at both regional and global levels with the role of economic policy in that process playing an important role. Both theoretical and empirical papers are welcome. Empirical and policy-related papers that rely on data and the experiences of countries outside North America are also welcome. Papers should offer concrete lessons about the ongoing process of globalization, or policy implications about how governments, domestic or international institutions, can improve the coordination of their activities. Empirical analysis should be capable of replication. Authors of accepted papers will be encouraged to supply data and computer programs.