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<p>This study investigates how digital transformation enhances the value relevance of accounting information through corporate social responsibility (CSR) practices in Canadian publicly listed firms. Using a dynamic panel data approach, we analyze 100 companies from the S&amp;P/TSX Composite Index over the 1994–2022 period, capturing Canada’s digital transition and ESG integration. Ours findings, first, digitalization directly strengthens information relevance, with particularly pronounced effects on cash flow metrics. Second, CSR mediates a significant portion of this relationship by improving transparency and stakeholder trust. Third, governance characteristics like board independence and diversity amplify these effects. Notably, while digitalization reduces the relevance of earnings due to R&amp;D capitalization complexities, CSR compensates by enhancing the market’s valuation of book values. The study contributes a novel “digital CSR transparency” framework that integrates resource-based and stakeholder theories, demonstrating how technological capabilities and social responsibility jointly shape financial reporting quality. For practitioners, the results provide actionable insights for aligning digital investments with CSR strategies, while policymakers gain evidence to guide disclosure standards in the digital-sustainability era.</p>

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The mediating effect of corporate social responsibility in the relationship between digitization and value relevance: empirical evidence from Canada

  • 期刊论文

  • 发表日期：

    2026年5月13日

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  • Ridha Yousfi,
  • Jamel Chouaibi,
  • Wissem Benali

摘要

This study investigates how digital transformation enhances the value relevance of accounting information through corporate social responsibility (CSR) practices in Canadian publicly listed firms. Using a dynamic panel data approach, we analyze 100 companies from the S&P/TSX Composite Index over the 1994–2022 period, capturing Canada’s digital transition and ESG integration. Ours findings, first, digitalization directly strengthens information relevance, with particularly pronounced effects on cash flow metrics. Second, CSR mediates a significant portion of this relationship by improving transparency and stakeholder trust. Third, governance characteristics like board independence and diversity amplify these effects. Notably, while digitalization reduces the relevance of earnings due to R&D capitalization complexities, CSR compensates by enhancing the market’s valuation of book values. The study contributes a novel “digital CSR transparency” framework that integrates resource-based and stakeholder theories, demonstrating how technological capabilities and social responsibility jointly shape financial reporting quality. For practitioners, the results provide actionable insights for aligning digital investments with CSR strategies, while policymakers gain evidence to guide disclosure standards in the digital-sustainability era.