大数据综合试验区建设赋能中国上市企业数据要素市场化研究

Construction of Big Data Comprehensive Pilot Zones Empowers the Marketization of Data Elements of Listed Enterprises in China

摘要:

数据要素市场化是新时代企业高质量发展的核心支撑资源和新型驱动引擎。将大数据综合试验区作为准自然实验,以2010—2023年中国 A 股上市企业为样本构建多期双重差分模型,实证检验大数据综合试验区建设对上市企业数据要素市场化的影响。研究发现,大数据综合试验区建设有利于促进上市企业数据要素市场化。异质性分析表明,大数据综合试验区建设在非国有企业、非高新技术行业、东部地区及金融环境开放程度较高的地区中对企业数据要素市场化的影响更显著。作用机制检验表明,大数据综合试验区建设通过提升资源配置效率和企业创新效率对企业数据要素市场化产生正向影响,而市场交易效率则呈现部分负向中介作用。空间溢出效应检验表明,大数据综合试验区建设对邻近地区企业数据要素市场化产生了显著的抑制效应。研究结论为评估企业数据要素市场化提供了新的视角,并为相关机构和企业提出政策建议。

Abstract:

The marketization of data elements is regarded as a core supporting resource and a new driving engine for the high-quality development of enterprises in the new era. The establishment of national-level Big Data Comprehensive Pilot Zones was used as a quasi-natural experiment, and a multi-period difference-in-differences (DID) model was constructed based on Chinese A-share listed enterprises from 2010 to 2023 to examine the impact on the marketization level of enterprise data elements. It is found that the construction of Big Data Comprehensive Pilot Zones significantly improves the marketization level of data elements of listed enterprises. It is further found that the positive impact is more significant for non-state-owned enterprises, non-high-tech industries, enterprises in the eastern region, and regions with a higher degree of financial openness. In the mechanism analysis, it is shown that the construction of Big Data Comprehensive Pilot Zones promotes the marketization of enterprise data elements by improving resource allocation efficiency and enterprise innovation efficiency, while market transaction efficiency plays a partially negative mediating role. In the spatial spillover analysis, it is shown that the construction of Big Data Comprehensive Pilot Zones significantly inhibits the marketization level of data elements of enterprises in neighboring regions. The findings are expected to provide a new perspective for evaluating the marketization level of enterprise data elements and to offer policy implications for relevant institutions and enterprises