Based on data from Chinese A-share listed companies between 2008 and 2022, the existence, mechanism, heterogeneity, and economic consequences of herd behaviour in data asset disclosure among Chinese listed firms was conducted. The findings reveal that firms' data asset disclosure levels are influenced by their industry peers, confirming the presence of herd behaviour in this disclosure practice. Specifically, a dual-level analysis of endogenous drivers and exogenous catalysts reveals that firms' competitive profit-seeking, symbiotic risk avoidance, and reputation management constitute the endogenous drivers of herd behaviour. Concurrently, shared analysts and common shareholders serve as pivotal social networks triggering such collective actions. Furthermore, the industry-specific clustering effect in data asset disclosure exhibits heterogeneity. It is more pronounced in regions with stronger data intellectual property protection, industries rich in data content, and firms with advanced digital application capabilities. Finally, it further examines the economic and non-economic consequences of this group-following effect in data asset disclosure. The findings indicate that such group-following not only improves industry financing environments but also enhances media attention across the entire sector. It expands the boundaries of studies on the determinants and herd effects of data asset information disclosure, highlights the positive impacts of corporate data asset disclosure, and provides crucial empirical evidence for enterprises making data asset disclosure decisions.