数据要素如何影响企业绩效:来自中国公共数据开放的准实验证据

How do data elements affect firm performance: quasi-experimental evidence from public data openness in China

摘要:

公共数据开放作为数字政府建设的关键制度工具，其对企业微观行为的经济影响仍缺乏系统实证评估。本文以2009—2023年中国A股上市公司为研究对象，结合城市层面的公共数据开放试点信息，采用多时点双重差分（DID）方法识别公共数据开放对企业绩效的影响及其作用机制。研究发现:公共数据开放对企业绩效具有显著的正向效应，这一结论在经过一系列稳健性检验后依然成立。机制分析表明，公共数据开放政策通过缓解融资约束与促进企业创新，提升了企业的总体绩效表现。异质性分析发现，公共数据开放对东部地区企业、小规模企业、非国有企业、非高技术企业及高绩效企业的绩效促进作用更为显著。本文为推动公共数据高效利用提供了政策依据与实证支持。

Abstract:

As a key institutional tool for the construction of digital government, public data opening still lacks systematic empirical evaluation of its economic impact on the micro behavior of enterprises. This paper takes China"s A-share listed companies from 2009 to 2023 as the research object, combines the pilot information of public data opening at the city level, and uses the multi-time difference-in-differences (DID) method to identify the impact of public data opening on enterprise performance and its mechanism. It is found that public data openness has a significantly positive effect on enterprise performance, which is still valid after a series of robustness tests. The mechanism analysis shows that the public data opening policy improves the overall performance of enterprises by alleviating financial constraints and promoting enterprise innovation. Heterogeneity analysis shows that public data openness has a more significant effect on promoting the performance of enterprises, small enterprises, non-state-owned enterprises, non-high-tech enterprises and high performance enterprises in the eastern region. This paper provides policy basis and empirical support for promoting the efficient use of public data.