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Does mispricing of assets increase the importance of data factors for enterprises?

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  • Wang, Gang
  • Liu, Bo

Abstract

This study selects all non-financial listed companies in China's A-share market from 2009 to 2023 as the initial sample and systematically explores the influence path and mechanism of asset mispricing on the importance of data factors for enterprises. Research findings reveal a significant positive relationship between asset mispricing and the importance of data factors for enterprises, a conclusion that remains robust through various robustness tests. Further moderating effect analysis shows that the attention of analysts plays an important moderating role in the relationship between asset mispricing and the importance of data factors for enterprises. Threshold regression analysis reveals that the impact of asset mispricing on the importance of data factors for enterprises exhibits a significant threshold effect, where the characteristics of the influence change with variations in firm size. This study not only enriches the literature on economic consequences of asset mispricing but also provides a new perspective from the capital market for understanding the driving factors behind corporate data strategies in the context of the digital economy, offering important practical insights for corporate managers and market regulators alike.

Suggested Citation

  • Wang, Gang & Liu, Bo, 2026. "Does mispricing of assets increase the importance of data factors for enterprises?," Finance Research Letters, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:finlet:v:89:y:2026:i:c:s1544612325025024
    DOI: 10.1016/j.frl.2025.109253
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