Does the Market-Oriented Allocation of Data Elements Improve the Quantity and Quality of Enterprise Innovation

Abstract

Abstract: Using the provincial panel data of 2011-2021 to measure the level of data element market allocation in China’s provinces (autonomous regions, municipalities), and combining the micro data of listed companies, this paper explores the impact of the market-oriented allocation of data elements on the quantity and quality of enterprise innovation and its mechanism. The findings show that the market-oriented allocation of data elements can enhance the quantity and quality of enterprise innovation. This conclusion remains robust even after conducting tests for robustness and endogeneity. The heterogeneity analysis show that the market-oriented allocation of data elements has a greater enhancement effect on the innovation quantity of the non-state-owned and highly competitive enterprises, as well as on the innovation quality of the large-scale and highly competitive enterprises. In regions with lower levels of marketization, the market-oriented allocation of data elements has a greater enhancement effect on the quality of enterprise innovation. The mechanism tests shows that the market-oriented allocation of data elements can enhance the quantity and quality of enterprise innovation through the innovation collaboration effect and digital transformation effect. Further analysis shows that the enhancement effect of the market-oriented allocation of data elements on both the quantity and quality of enterprise innovation are jointly driven by capital elements and innovation efficiency. The market-oriented allocation of data elements can enhance enterprise total factor productivity, however, there exists a time lag in the impact of innovation quality on the total factor productivity. Therefore, the government should attach importance to the value attributes of data, implement the application of data elements according to enterprise policies, focus on the internal and external innovation environment of enterprises, and leverage the synergistic effect of data and other elements, so as to achieve the promotion of market-oriented allocation of data elements on enterprise innovation and development..

Key words: market-oriented data elements, enterprise innovation, innovation collaboration, digital transformation

CLC Number:

F273

LIANG Jin-kai, CHEN Guan-ju, LOU Xiao-ting. Does the Market-Oriented Allocation of Data Elements Improve the Quantity and Quality of Enterprise Innovation[J]. Journal of Jiangxi University of Finance and Economics, 2024, 0(6): 36-49.

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