数据要素市场化能否促进企业新质生产力发展--基于要素配置与组织运营视角

Can Data Element Marketization Promote the Development of Firm New Quality Productivity Forces--From the Perspective of Factor Configuration and Organizational Operations

本文基于2009-2022年中国城市与沪深A股上市公司的匹配数据,以数据交易平台建设作为准自然实验,运用交叠双重差分模型研究数据要素市场化对企业新质生产力发展的作用机理及影响效果。研究发现:①数据要素市场化能够直接促进企业新质生产力发展,该结论经过排除混淆政策冲击、安慰剂检验、内生性处理以及稳健性检验后依然成立;②数据要素市场化对企业新质生产力发展具有要素配置效应与组织运营效应,数据要素市场化能够通过优化劳动力、资本、技术生产要素配置,同时强化组织支撑、降低管理成本并促进业务创新,进而促进企业新质生产力发展;③数据要素市场化对于非劳动密集型、资本密集型、技术密集型行业的企业新质生产力促进效应更强。未来应推动数据交易平台建设与优化,加强数据要素市场化的配套支持,制定差异化的数据要素市场化政策。本文的研究结论对于推进数据要素市场化、促进企业新质生产力发展以及推动经济高质量发展具有重要借鉴意义。

This study adopted matched data from Chinese cities and Shanghai and Shenzhen A-share listed companies between 2009 and 2022,using the construction of data trading platforms as a quasi-natural experiment.It employed a staggered difference-in-differences(SDID)model to investigate the mechanisms and effects of data element marketization on firm new quality productivity forces.The research findings are as follows:First,data element marketization can directly enhance the development of firm new quality productivity forces.This conclusion remains robust after controlling for confounding policy shocks,placebo tests,endogeneity tests,and robustness checks.Second,data element marketization exerts factor configuration effects and organizational operation effects on firm new quality productivity forces.Specifically,it optimizes the configuration of labor,capital,and technology production factors,while reinforcing organizational support,reducing management costs,and promoting business innovation,thereby fostering the development of firm new quality productivity forces.Third,data element marketization has a stronger effect on the new quality productivity forces of non-labor-intensive,capital-intensive,and technology-intensive industries.It is essential to advance the construction and optimization of data trading platforms,strengthen auxiliary support for data element marketization,and formulate differentiated data element marketization policies.This study offers significant insights for advancing data element marketization,promoting the development of firm new quality productivity forces,and driving high-quality economic growth.