Work

Does data asset disclosure mitigate stock mispricing? A signalling perspective

Year: 2026

Type: article

Abstract: Although data asset disclosure signals firms’ competitive resource advantages, whether and how data asset disclosure influences investors’ perceptions remains unclear. Using a unique dataset comprising A-share listed firms in China from 2008 to 2023, this study finds that data asset disclosure mitigates stock mispricing. Such the effect is stronger for self-use data asset disclosure than transactional ones, and for firms with higher internal control quality, media attention, and institutional ownership. Further analysis reveals that Only routine and truthful disclosure is effective, while exaggerated disclosure backfires. These findings yield important theoretical and managerial implications for firms formulating data asset disclosure strategies.

Source: Enterprise Information Systems

DOI: 10.1080/17517575.2025.2607361

Authors: Jian-Yong Liu, Feng-Xiao Jia, Yu-Ning Zhang, Zhen-Yuan (Ralph) Liu, Ying Kei (Mike) Tse

Institutions: China University of Mining and Technology, Shanghai University of International Business and Economics, Cardiff University

Language: English

Topic: Auditing, Earnings Management, Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Funders: National Office for Philosophy and Social Sciences, Fundamental Research Funds for the Central Universities, National Social Science Fund of China

Awards: G4299885224, G5918509386