Digital information disclosure, investor sentiment and enterprise default risk

Yiwei Zheng

Finance Research Letters, 2024, vol. 62, issue PA

Abstract: This study employs a Tobit model to examine the influence and mechanisms of digital information disclosure on enterprise default risk within China's A-share market spanning the years 2009 to 2020. The findings highlight a noteworthy decrease in default risk attributable to digital information disclosure. Furthermore, investor sentiment serves as a moderating factor, amplifying the effectiveness of digital disclosure in mitigating default risk, particularly during periods characterized by negative sentiment. These research outcomes provide significant insights that can enhance external supervision practices.

Keywords: Digital information disclosure; Default risk; Investor sentiment (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:62:y:2024:i:pa:s1544612324001004

DOI: 10.1016/j.frl.2024.105070

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