Online information on digitalization processes and its impact on firm value

In the past decade, digitalisation has gained the attention of both professionals and academics. Investors are increasingly taking into account information on firm digitalisation in their decision-making. However, this in- formation is poorly captured through corporate disclosure. A scarcity of this information has further increased its value in investment choices. Dissemination of information about digitalisation can be a signal that companies send to investors with the hope of a positive effect on firm value. Despite its relevance, there are no studies on the relationship between information about digitalisation and firm value. This study aims to fill this gap by analysing the impact of the information about digitalisation provided directly or indirectly by companies through their website on firm value. The regression analysis, conducted on a sample of 114 international firms, shows the existence of a positive relationship, demonstrating how information about digitalisation is a means for companies to increase their value.