Exploring the Impact of Digital Transformation on Information Disclosure Quality : A Study on Digitally Empowered Corporate Disclosure

This study examines the impact of digital transformation on the quality of corporate information disclosure. Employing panel-data analysis of A-share listed companies, we empirically test our hypothesis and find that digital transformation significantly improves the quality of information disclosure that remain robust after controlling for variable substitution measurement, variable sensitivity analysis, and PSM+DID. Moreover, our study indicates that the effects of different digital technologies on information disclosure quality vary. We also examine the moderating role of internal and external factors, and our results suggest that market competition and corporate governance enhance the positive impact of digital transformation. Our mechanism testing reveals that digital transformation enhances the quality of information disclosure by mitigating information asymmetry and agency problems and enhancing resource efficiency. Our research contributes to the empirical literature on the economic implications of digital transformation and offers meaningful implications for enhancing the quality of enterprise information disclosure