Can Digital Transformation of Enterprises Suppress Stock Mispricing?
In recent years,digital transformation has become a major choice for Chinese enterprises to undergo strategic transformation,but it is still unknown whether and how digital transformation will affect stock mispricing in the capital market.The article empirically tests the impact of digital transformation on stock mispricing based on data from listed companies in the Shanghai and Shenzhen A-shares from 2014 to 2021.Research has shown that digital transformation of enterprises has a strong inhibitory effect on stock mispricing,which still holds true after a series of robustness tests.Heterogeneity analysis found that in the eastern region and traditional industries,digital transformation has a more significant inhibitory effect on stock mispricing.Research on the impact mechanism has found that enterprise information quality partially mediates the relationship between digital transformation and stock mispricing.The article not only expands the research scope of digital transformation,but also provides new ideas for suppressing stock mispricing.
万方数据
维普
