ABSTRACT
A growing number of firms are openly disclosing knowledge through academic journals and conferences; however, the impact of this practice on their market value needs further research. From a signalling theory perspective, we investigate the relationship between open knowledge disclosure and firm value and identify potential contingency factors. We propose that open knowledge disclosure conveys a firm’s technical capability and commitment to open science, consequently contributing to its market value. Drawing upon data from listed companies within China’s information and communication technology sector, we confirm that open knowledge disclosure enhances firm value. Furthermore, this enhancement is more pronounced for small firms, young firms, private firms, firms with few patents, firms drafting few technical standards, or firms operating in an immature technology market. Our findings suggest that firms, especially those facing high information asymmetry or lacking alternative signals, can increase their market value by sending positive signals through open knowledge disclosure.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Data availability statement
The data that support the findings of this study are available from the corresponding author upon reasonable request.
Supplementary material
Supplemental data for this article can be accessed online at https://doi.org/10.1080/13662716.2024.2320765.