Abstract: Facilitating the flow of data resources and encouraging enterprises to leverage public data to enhance their resilience is crucial. Based on the strategic direction of public data openings, this paper conducts a systematical study of the impact of data element sharing on corporate resilience with the multi-period difference-in-differences (DID) method. The findings reveal that public data openness can significantly enhance corporate resilience, with its impact generated through innovation effects, digital transformation effects, and internal control effects. Meanwhile, the results of the heterogeneity analysis reveal that the enhancement effect of public data openness on corporate resilience is more significant in contexts with higher economic policy uncertainty, marketization degree, and digital infrastructure construction level, as well as in enterprises with higher levels of non-sunk redundant resources and financing constraints, and in technology-intensive industries. Furthermore, when the quantity of open public data increases, the difficulty of obtaining it decreases, updates become more timely, and the relevance of the topics to enterprise production and operation becomes stronger, the enhancement effect of public data openness on enterprise resilience becomes more pronounced. Therefore, the government should strengthen the construction and optimization of public data-sharing platforms, explore multi-dimensional pathways to enhance firm resilience, and implement targeted policies tailored to the specific characteristics of cities and enterprises.

Key words: data element sharing, public data openness, corporate resilience