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<p>This study investigates the impact of digital transformation on the integrity of financial information disclosure among firms listed on the Shanghai and Shenzhen A-share markets. Leveraging a comprehensive dataset spanning from 2011 to 2021, we employ an ordered probit regression model to analyze the relationship between digital transformation and disclosure practices. Our findings reveal that digital transformation significantly enhances the integrity of financial disclosures, primarily through improved management incentives and strengthened internal governance mechanisms. These effects are particularly pronounced in non-state-owned enterprises, firms in central and western regions, and those operating within weaker legal frameworks. The results underscore the role of digital transformation as a critical driver of transparency in financial markets, with implications for corporate governance, regulatory oversight, and investor protection.</p>

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Management incentives, governance, and digital transformation: effects on financial disclosure integrity

  • 期刊论文

  • 发表日期：

    2025年10月11日

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  • Yali Li,
  • Gaobin Du,
  • Yilun Lu

摘要

This study investigates the impact of digital transformation on the integrity of financial information disclosure among firms listed on the Shanghai and Shenzhen A-share markets. Leveraging a comprehensive dataset spanning from 2011 to 2021, we employ an ordered probit regression model to analyze the relationship between digital transformation and disclosure practices. Our findings reveal that digital transformation significantly enhances the integrity of financial disclosures, primarily through improved management incentives and strengthened internal governance mechanisms. These effects are particularly pronounced in non-state-owned enterprises, firms in central and western regions, and those operating within weaker legal frameworks. The results underscore the role of digital transformation as a critical driver of transparency in financial markets, with implications for corporate governance, regulatory oversight, and investor protection.