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Are more disclosures always better? Data asset information disclosure and cost of debt in China

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Listed:
  • Wei, Yanlin
  • Zhang, Junrui
  • Liu, Tingting
  • Wang, Fanghua
  • Yin, Xingqiang

Abstract

This study examines the relationship between a firm's disclosure of data assets and its cost of debt, using data from Chinese A-share listed firms from 2014 to 2022. The results indicate that the disclosure about data assets increases the cost of debt, which can be attributed to lenders' concerns about the reliability of such disclosures that not only contributes to impress management but also is hard to verify. However, this exacerbation impact is mitigated when lenders are large banking institutions. Conversely, the negative impact is more pronounced when annual reports are difficult to read or when financial information is of low quality.

Suggested Citation

  • Wei, Yanlin & Zhang, Junrui & Liu, Tingting & Wang, Fanghua & Yin, Xingqiang, 2026. "Are more disclosures always better? Data asset information disclosure and cost of debt in China," Emerging Markets Review, Elsevier, vol. 72(C).
    • Handle: RePEc:eee:ememar:v:72:y:2026:i:c:s1566014126000191
    DOI: 10.1016/j.ememar.2026.101455
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    Keywords

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    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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