Corporate Digital Transformation and Information Disclosure Quality: An Empirical Study Based on Shenzhen Stock Exchange Disclosure Evaluation Data

Abstract

Using A-share listed firms on the Shenzhen Stock Exchange from 2015 to 2020 as the research sample, this paper examines the impact of corporate digital transformation on information disclosure quality. The results show that corporate digital transformation can significantly improve firms’ information disclosure quality. Mechanism tests indicate that digital transformation improves disclosure quality through two channels: reducing earnings management and improving internal control quality. Compared with blockchain technology, four digital transformation modes, namely artificial intelligence, cloud computing, big data, and digital technology application, have more significant effects on improving information disclosure quality. In addition, the higher the degree of analyst coverage, the stronger the positive effect of corporate digital transformation.