Abstract: The interaction between data resources and human capital enables enterprises to break the“data sleeping dilemma”. So, can enterprises break the“data sleeping dilemma”to create value? Based on the data of A-share listed companies in Shanghai and Shenzhen stock exchanges from 2010 to 2023, this paper studies the value creation effect of the interaction between corporate data resources and human capital. The findings show that the interaction between enterprise data resources and human capital can create value. The mechanism analysis reveals that the interaction between data resources and human capital can improve labor productivity, capital allocation efficiency and innovation efficiency, so the interaction between data resources and human capital can create value. The heterogeneity analysis reveals that the value creation effect of the interaction between data resources and human capital is more significant in non-high-tech enterprises, enterprises located in the areas with high local government attention to digital economy or with high regional education level. Therefore, it is necessary to improve the interactive relationship between data resources and human capital, so as to encourage enterprises to create more values.

Key words: data resource, human capital, interaction, enterprise value, data dilemma