Regional Digital Economy Development, Information Asymmetry, and Enterprise Supply Chain Transparency: An Empirical Study Based on Chinese Listed Companies

Yunyi Li

doi:10.54097/hbem.v13i.8875

Authors

Yunyi Li

DOI:

https://doi.org/10.54097/hbem.v13i.8875

Keywords:

Digital economy, information asymmetry, supply chain transparency.

Abstract

The digital economy is an important supporting force for the high-quality development of contemporary economy. Based on the panel data samples of A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2008 to 2020, this paper empirically tests the impact of regional digital economy development on the transparency of enterprise supply chain. Research discoveries: The development of regional digital economy has reduced information asymmetry among enterprises, and enterprises no longer have to bear risks to disclose important information, thereby reducing the transparency of their supply chain; Heterogeneity testing found that: (1) the development of the digital economy has a significant inhibitory effect on the supply chain information disclosure of upstream or downstream enterprises in the industry value chain; (2) This effect is greater upstream in the industry value chain; (3) The digital economy development level of enterprises in the eastern, central, and northeastern regions of China has reduced their supply chain information disclosure. The research conclusion of this article is helpful in analyzing the policy effectiveness of current corporate information disclosure regulations, and also provides a basis for the subsequent formulation of relevant disclosure policies.

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