Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China.
Digital transformation is an emerging development opportunity for enterprises in the digital economy and comprehensively reflects the application of digital technology to production, operation, and management strategies. This study used data on A-share listed enterprises in Shanghai and Shenzhen fro...
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| Format: | Article |
| Language: | English |
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Public Library of Science (PLoS)
2024-01-01
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| Series: | PLoS ONE |
| Online Access: | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295187&type=printable |
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| _version_ | 1850107932952231936 |
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| author | Tao Feng Xiaohuan Dong Yueyun Wang |
| author_facet | Tao Feng Xiaohuan Dong Yueyun Wang |
| author_sort | Tao Feng |
| collection | DOAJ |
| description | Digital transformation is an emerging development opportunity for enterprises in the digital economy and comprehensively reflects the application of digital technology to production, operation, and management strategies. This study used data on A-share listed enterprises in Shanghai and Shenzhen from 2007 to 2022 to examine the relationship between the digital transformation of enterprises and information efficiency of the capital market. Findings revealed that digital transformation can improve the information efficiency of the capital market and that environmental uncertainty plays a more significant regulatory role. The greater the environmental uncertainty, the more enterprises with a high degree of digital transformation can promote the information efficiency of the capital market. Additional analysis showed that the promotional effect of digital transformation on the information efficiency of the capital market is better for non-state-owned enterprises and small and medium-sized enterprises. This study provides detailed insights into digital transformation and capital market information efficiency, which enriches the research related to the economic consequences of digital transformation and demonstrates the theoretical and practical value of corporate digital transformation. |
| format | Article |
| id | doaj-art-65a073fd600e4733b52b646a6ea93b29 |
| institution | OA Journals |
| issn | 1932-6203 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj-art-65a073fd600e4733b52b646a6ea93b292025-08-20T02:38:29ZengPublic Library of Science (PLoS)PLoS ONE1932-62032024-01-01191e029518710.1371/journal.pone.0295187Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China.Tao FengXiaohuan DongYueyun WangDigital transformation is an emerging development opportunity for enterprises in the digital economy and comprehensively reflects the application of digital technology to production, operation, and management strategies. This study used data on A-share listed enterprises in Shanghai and Shenzhen from 2007 to 2022 to examine the relationship between the digital transformation of enterprises and information efficiency of the capital market. Findings revealed that digital transformation can improve the information efficiency of the capital market and that environmental uncertainty plays a more significant regulatory role. The greater the environmental uncertainty, the more enterprises with a high degree of digital transformation can promote the information efficiency of the capital market. Additional analysis showed that the promotional effect of digital transformation on the information efficiency of the capital market is better for non-state-owned enterprises and small and medium-sized enterprises. This study provides detailed insights into digital transformation and capital market information efficiency, which enriches the research related to the economic consequences of digital transformation and demonstrates the theoretical and practical value of corporate digital transformation.https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295187&type=printable |
| spellingShingle | Tao Feng Xiaohuan Dong Yueyun Wang Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. PLoS ONE |
| title | Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. |
| title_full | Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. |
| title_fullStr | Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. |
| title_full_unstemmed | Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. |
| title_short | Assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty: Evidence from China. |
| title_sort | assessing the impact of digital transformation on capital market information efficiency under environmental uncertainty evidence from china |
| url | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0295187&type=printable |
| work_keys_str_mv | AT taofeng assessingtheimpactofdigitaltransformationoncapitalmarketinformationefficiencyunderenvironmentaluncertaintyevidencefromchina AT xiaohuandong assessingtheimpactofdigitaltransformationoncapitalmarketinformationefficiencyunderenvironmentaluncertaintyevidencefromchina AT yueyunwang assessingtheimpactofdigitaltransformationoncapitalmarketinformationefficiencyunderenvironmentaluncertaintyevidencefromchina |