Abstract：

This paper selects Chinese A-share listed companies on the Shanghai and Shenzhen Stock Exchanges from 2014 to 2023 as the initial sample. It uses the reform of big data management agencies in various regions as a quasi- natural experiment for digital government construction. The difference-in-differences method is employed to examine the impact of digital government construction on corporate earnings management. The research results show that digital government construction significantly curbs corporate earnings management behavior. Mechanism analysis indicates that it achieves this by enhancing the level of corporate digital transformation. Heterogeneity tests reveal that this inhibitory effect is more pronounced in regions with a high degree of marketization and in high-tech industry enterprises. The study provides empirical evidence for understanding the impact of digital technology-enabled government governance on micro-enterprise behavior. It also offers policy implications for deepening digital government construction and regulating corporate financial behavior.

Key Words：

digital government; earnings management; digital transformation; reform of big data management agencies