数据要素市场建设与企业新质生产力——基于数据交易平台的准自然实验

Data Factor Market Construction and Firms' New Quality Productive Forces —A Quasi-Natural Experiment Based on Data Exchange Platform

中文关键词:  数据要素市场建设  企业新质生产力  科技创新  数据资产  产业转型升级

英文关键词:construction of data trading platforms  firms' new quality productive forces  scientific and technological innovation  data assets  industrial transformation and upgrading

中文摘要:

      数据要素是数字经济发展的基础性资源,数据要素市场建设有利于充分释放数据要素价值潜能,对于培育发展企业新质生产力具有重要推动作用。基于2011—2022年中国A股上市公司数据,通过数据交易平台试点这一准自然实验,使用渐进式双重差分方法探究了数据要素市场建设对企业新质生产力的影响及其机制。研究发现,数据要素市场建设促进了企业新质生产力的提升,并通过促进产业转型升级和科技创新提升了企业新质生产力。异质性分析发现,数据要素市场建设对非国有企业和数字化水平较高企业新质生产力的提升作用更大。进一步研究发现,数据要素市场建设提高了企业数据资产水平。因而,政府应持续推进数据要素市场建设,积极促进产业转型升级和科技创新,鼓励不同类型企业充分挖掘数据要素市场的发展潜力,助力企业新质生产力的培育发展。

英文摘要:

      Data factors serve as foundational resources for the development of the digital economy. The data factor market construction facilitates the full realization of data value potential and drives the cultivation and development of firms' new quality productive forces. Drawing on data from China's A-share listed companies from 2011 to 2022, this study utilizes the pilot implementation of data trading platforms as a quasi-natural experiment and applies a staggered difference-in-differences (DID) method to examine the impact of the data factor market construction on firms' new quality productive forces and its underlying mechanisms. The findings reveal that the data factor market construction can enhance firms' new quality productive forces, mainly by driving industrial transformation and upgrading, as well as improving scientific and technological innovation levels. Heterogeneity analysis indicates that the positive impact of the data factor market construction is more significant in non-state-owned firms and firms with higher levels of digitalization. Further analysis shows that the data factor market construction increases firms' data asset levels. Consequently, the government should continue to advance the data factor market construction, actively promote industrial transformation and upgrading and scientific and technological innovation, and encourage diverse types of firms to fully leverage the potential of the data factor market to facilitate the cultivation and development of firms' new quality productive forces.