Analysis of the impact pathways of public data openness on corporate financial transparency
Jun Wang
College of Economics and Management, Beijing Institute of Petrochemical Technology/Institute for Beijing Modern Industrial New Developed Area Research
Jiawen Sun
College of Economics and Management, Beijing Institute of Petrochemical Technology/Institute for Beijing Modern Industrial New Developed Area Research
Danhui Wang
College of Economics and Management, Beijing Institute of Petrochemical Technology/Institute for Beijing Modern Industrial New Developed Area Research
Lin Yang
College of Economics and Management, Beijing Institute of Petrochemical Technology/Institute for Beijing Modern Industrial New Developed Area Research
DOI: https://doi.org/10.59429/bam.v7i2.10517
Keywords: Public data disclosure; Corporate financial transparency; Institutional pressure; Resource enablement; Data governance model
Abstract
Against the backdrop of digital economy growth and data element market reform, how public data openness enhances corporate financial transparency is a critical research topic with theoretical and practical significance. This paper integrates information asymmetry, resource-based, and agency theories to build a framework explaining how public data openness impacts corporate financial transparency. Through international model comparisons and Chinese case studies, it reveals mechanisms and effectiveness disparities. The findings are as follows:(1)Public data openness improves corporate financial transparency via institutional pressure (“data verification - exposure - punishment”) and resource empowerment (“complementarity - iteration - reconstruction”), but policy tool suitability and industry heterogeneity persist.(2)Government-led models strengthen external regulation with broad data; market-driven models motivate with high-value data; hybrid models optimize within secure frameworks.(3)Data openness effectiveness is constrained by standardization, governance, and revenue distribution, requiring solutions like tiered access, dynamic incentives, and trustworthy technology to address "information opacity" and "data abuse."This paper puts forward the optimization path of “institutional innovation-scenario-driven-ecological synergy”, which provides theoretical support and policy enlightenment for improving the governance rules of data elements and building China’s plan for enterprise transparency construction.
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