The Impact of Data Assetization on Stock Price Crash Risk
DOI:
https://doi.org/10.54097/dh9e6d92Keywords:
Data Assets, Stock Price Crash Risk, Stock Price Informativeness, Institutional OwnershipAbstract
Data assetization significantly impacts stock price crash risk by optimizing corporate information disclosure systems and enhancing information supply quality. Based on data from A-share listed companies covering 2007-2023, this study finds that data assetization significantly suppresses stock price crash risk, with this inhibitory effect being more pronounced in asset-light firms, companies with lower audit quality, and those with greater regulatory distance. Mechanism analysis reveals that data assetization reduces crash risk by improving stock price informativeness, while institutional ownership weakens this effect. This research enriches the literature on data assetization and stock price crash risk, providing theoretical guidance for regulatory authorities, enterprises, and investors in advancing data assetization practices.
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