Strategic Disclosure in Enterprises'Digital Transformation Information:An Empirical Study Based on Self-reported Signaling
As a kind of signal,digital transformation is often self-reported rather than publicly observable.Measuring the motivation of strategic disclosure in self-reported signaling,this paper explores the reason for enterprises to engage in strategic disclosure and its impact on digital transformation information.This study reveals the following findings.First,the motivation of strategic disclosure in self-reported signaling is to avoid being undervalued by the market.Enterprises with stronger motivation have better future performance.Second,the motivation leads to an increase in digital transformation information disclosure,and enterprises with higher quality have stronger motivations.Therefore,digital transformation information disclosure cannot reflect the truth and may lead to overestimating the positive effects of digital transformation.Third,CEO duality and high-quality auditors will respectively strengthen and weaken the effect.Finally,the effect is mainly related to three types of digital technologies:artificial intelligence,cloud computing,and big data.This article not only provides a new perspective for studying the strategic disclosure behavior of enterprises,but also provides inspiration for understanding the biases that may arise from using text analysis methods.
NETL
NSTL
万方数据
