大数据局的设立对公司价值的影响——来自A股的实证研究

Impact of the Establishment of Big Data Bureau on the Valuation of Listed Enterprises——An Empirical Study on A Shares

省级大数据局的设立从多个方面对本地大数据产业与技术发展产生积极作用,本文以2012—2020年均在中国A股上市的公司为样本,运用文本分析与多时点双重差分模型探究大数据局的设立对上市公司价值的影响。结果表明,省级大数据局的设立带来的数据资源可获得性和大数据技术普及程度的提升,提高了本地传统制造业与服务业领域未应用大数据技术企业的公司价值,但对大数据技术应用相关企业的公司价值无明显影响。

The establishment of provincial big data bureaus would have a positive effect on the development of local big data industry and technology in several aspects,which might be reflected as the impact on the firm value.In this paper,we use the companies listed in the Chinese A-share market from 2012 to 2020 as the sample,and use textual analysis and staggered difference-indifference model to explore the impact of the establishment of big data bureaus on the firm value of local big data technology application-related enterprises.The results shows that the establishment of the provincial big data Bureau has improved the availability of data resources and the popularity of big data technology,which improves the firm value of local traditional manufacturing and service enterprises that do not apply big data technology,but has no significant impact on the firm value of local big data technology application-related enterprises in traditional manufacturing and service sectors.