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Is financial digitalization an effective strategy to prevent stock price crash?

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  • Tang, Lingbing
  • Li, Ming

Abstract

This study adopted enterprise financial shared service centers as a measure of financial digital upgrading. We investigated the impact of financial digital transformation on stock price collapse risk using data from China's A-share listed companies from 2008 to 2022. Digital transformation in corporate finance significantly reduced the risk by improving accounting information and internal management quality. The effect was not significant in state-owned or large-scale enterprises but was significant for non-state-owned and small-scale enterprises.

Suggested Citation

  • Tang, Lingbing & Li, Ming, 2025. "Is financial digitalization an effective strategy to prevent stock price crash?," Finance Research Letters, Elsevier, vol. 72(C).
    • Handle: RePEc:eee:finlet:v:72:y:2025:i:c:s1544612324015526
    DOI: 10.1016/j.frl.2024.106523
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