Does Data Asset Information Disclosure Mitigate Supply Chain Risk? Causal Evidence from Double-Debiased Machine Learning

As a vital driver of supply chain management, data has evolved into both a foundational resource and a critical production factor for optimizing supply chains and mitigating risk. This study adopts a four-dimensional framework (i.e., visibility, coordination, flexibility, and redundancy) to investigate how data asset information disclosure (DAID) shapes supply chain risk (SCR). Relative to the existing literature, this paper contributes by examining the determinants of supply chain risk from the perspective of data asset information disclosure and by conducting empirical analyses using double debiased machine learning and causal mediation analysis. The results show that DAID significantly lowers SCR, with results robust to multiple sensitivity checks. Economically, a one-standard-deviation increase in DAID leads to an average decline in SCR of 0.63%. Causal mediation analysis, aligned with the theoretical dimensions, reveals that DAID mitigates SCR through four channels: enhancing information transparency, improving visibility, strengthening agile responsiveness, and increasing supply chain concentration. Heterogeneity tests reveal stronger effects among firms facing fewer financing constraints, operating in more marketized environments, and designated as chain master firms. Further evidence suggests that reduced SCR promotes a greater capacity for coordinated innovation within the supply chain.