A Study from the Perspectives of Information Disclosure and Investment on Exploring the Impact of Digital Transformation on Corporate Performance

Taking A-share listed companies from 2016 to 2022 as research samples, this study explores the impact of digital transformation on corporate performance from both information disclosure and investment perspectives. Findings indicate that there is an inverted U-shaped connection between the disclosure of digital transformation information and corporate performance. Moreover, a positive correlation has been found between investments in digital transformation and corporate performance.Further investigation reveals that in companies receiving high analyst attention,the influence of disclosing digital transformation information on corporate performance is notably pronounced, with internal control serving as a mediating factor in terms of the consequences of digital transformation data revelation on corporate performance.