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Enterprise Digital Strategic Commitment, Information Asymmetry and the Risk of Stock Price Crash
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Junqing ZHU
Science Technology and Industry | 2025, 25(14) : 90 - 97
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Science Technology and Industry | 2025, 25(14): 90-97
Industrial Development
Enterprise Digital Strategic Commitment, Information Asymmetry and the Risk of Stock Price Crash
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Junqing ZHU
Affiliations
  • Fujian Normal University, School of Economics, Fuzhou 350108, China
Published: 2025-07-25
Outline
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Taking the Shanghai and Shenzhen A-share listed companies from 2012 to 2022 as an example, the relationship between the degree of enterprise digital strategic commitment and the risk of stock price crash was discussed. The results show that high-level digital strategic commitment can reduce the risk of stock price crash, and reveal the mechanism of information asymmetry in the influence between enterprise digital strategic commitment and the risk of stock price crash. By exploring the economic consequences of enterprise digital strategic commitment and the influencing factors of the risk of stock price crash, this study can fully realize the potential economic value of enterprise digital strategic commitment and promote the realization of high-quality development goals of enterprises and capital market.

strategic commitment  /  digital transformation of enterprises  /  risk of stock price crash  /  information asymmetry  /  principala-gent problem
Junqing ZHU. Enterprise Digital Strategic Commitment, Information Asymmetry and the Risk of Stock Price Crash[J]. Science Technology and Industry, 2025 , 25 (14) : 90 -97 .
Year 2025 volume 25 Issue 14
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Article Info
  • Receive Date:2025-01-08
  • Online Date:2025-09-15
  • Published:2025-07-25
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History
  • Received:2025-01-08
Affiliations
    Fujian Normal University, School of Economics, Fuzhou 350108, China
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表12种不同金属材料的力学参数

Family
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Number of
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种数
Number of
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鹅膏菌科Amanitaceae 2 11 5.26 鹅膏菌属 Amanita 10 4.78
小菇科 Mycenaceae 2 12 5.74 丝盖伞属 Inocybe 5 2.39
多孔菌科 Polyporaceae 8 14 6.70 蜡蘑属 Laccaria 5 2.39
红菇科 Russulaceae 3 23 11.00 小皮伞属 Marasmius 6 2.87
小菇属 Mycena 11 5.26
光柄菇属 Pluteus 5 2.39
红菇属 Russula 17 8.13
栓菌属 Trametes 5 2.39
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