Study on the influence path of data asset information disclosure level and its high-quality development effect in large innovative enterprises

We adopt the fsQCA and double machine learning methods to explore the influencing paths of the data asset information disclosure level of large innovative enterprises and their corresponding high-quality development effects. We find that: (1) Data asset information disclosure levels of large innovative enterprises are driven by the interplay of disclosure motivation, opportunity, and ability; (2) Five configurational paths drive the high-level data asset information disclosure in large innovative enterprises, namely ‘Opportunity-Seizing under Market Pressure’, ‘Capability Support under Media Attention’, ‘Independent Director-Driven under Analyst Attention’, ‘Capability Guarantee’, and ‘Comprehensive Linkage’; four paths drive non-high-level disclosure, collectively named ‘Executive Capability Constraint under Strong Supervision by Independent Directors’; (3) Only large innovative enterprises with genuine high-level data assets can promote their high-quality development by improving the information environment and optimising labour structure, those manipulating data asset information disclosure through ‘symbolic than substantive’ cannot achieve this goal.