Data for: Information accessibility, accounting manipulation, and sustainable development of digital enterprises: Based on double moderating effect model and panel PSM-DID method

A theoretical mechanism was analyzed from the micro perspective of the enterprise to explore how information accessibility moderates the effect of accounting manipulation on the sustainable development of digital enterprises. Using data from 1200 listing digital enterprises in China and the DEA-Malmquist index method, the efficiency value of digital enterprises in 2007–2021 was estimated to represent the index of sustainable development of digital enterprises. The accounting manipulation was detected using the panel PSM-DID method based on the Administrative Measures for the Recognition of High-tech Enterprise's policy. The information accessibility value was estimated based on the MDA method. Empirical studies were conducted using text analysis, the panel PSM-DID method, and the double moderating effect model. The results showed that: (1) Accounting manipulation had a negative impact on the sustainable development of "true" digital enterprises and the "fake" digital enterprises; (2) Information accessibility directly and positively enhanced the technological progress and scale efficiency of digital enterprises, and its moderating effect was heterogeneous, with a significant moderating effect on the "true" digital enterprises and a negative effect on the "fake" ones.

Methods
Descriptive statistics for variables and data are shown in Table 1. The samples were selected from the enterprise list of the DE sector of the Shenzhen and Shanghai Stock Exchanges, excluding those listed or delisted in or after 2007, ST enterpreses, and ST* enterprises. The data of 1200 digital enterprises between 2007 to 2021 was from the Guotai’an database (www.gtarsc.com/) and the annual reports of listed companies in the Shenzhen and Shanghai Stock Exchanges. 

Variable

Symbol

The main dependent variable

Total factor productivity

TFP

Technical efficiency

TE

Scale efficiency

SE

Technological progress

TECH

Efficiency measurement index system

Input

Labor input

lnl

Capital input

lnk

Output

Profit

lny

Intangible assets

lni

The main independent variables

Company research and development exercise, vertical virtual variable

PsdHiT

Whether companies are identified as high

HiT

Virtual variable of the year after obtaining the high enterprise recognition

POST

IA

Inf

control variable

Equity ratio

ownershipp

Asset-liability ratio

balance

Equity concentration

con

Whether the chairman and general manager are the same person

chairman

Financial leverage

lever