Digital transformation and strategic risk taking dataset for China's public-listed companies.

This article presents a comprehensive dataset from the annual reports of China's public-listed companies, the China Stock Market and Accounting Research Database, and the Wind database, focusing on digital transformation and strategic risk taking. This dataset covers 14 years from 2008 to 2021 with 17,089 firm-year observations. Digital transformation is calculated using text mining techniques and keyword frequency analyses based on the firms' annual reports. Then, strategic risk taking is a composite strategic index that combines long-term debt, R&D expenditure, and capital expenditure. The dynamic capability is measured by a comprehensive index that includes three dimensions: absorptive capacity, adaptive capability, and innovation capability. This dataset can serve as a reference base for future studies on the effect of digital transformation on corporate strategic behavior. It can also be integrated into building core competencies to assist managers in identifying the role of dynamic capability.