西安交通大学学报（社会科学版）2025，Vol.45Issue(5)：41-50,10.DOI:10.15896/j.xjtuskxb.202505004
数据要素市场建设与企业数字化转型
Data Factors in Market Construction and the Digital Transformation of Enterpri-ses:A Quasi-Natural Experiment on the Establishment of Local Data Transaction Platforms
摘要
Abstract
To unlock the potential of digital productivity and enhance the policy toolkit for advancing corporate digital transformation,this study draws on the construction experience and outcomes of the data factor market over the past decade.It analyzes the impact of this market on the circulation and production efficiency of data elements,exploring the mechanisms through which the development of the data factor market influences enterprise digital transformation.This paper considers the establishment of local data trading platforms as a quasi-natural experiment,employing a staggered difference-in-differences(DID)model to examine the effects and transmission mechanisms of data factor market development on corporate digital transformation.The research process and key findings are outlined as follows:(1)This paper theoretically analyzes the impact of factor market development on information transmission,ownership transfer,and physical transfer within data transactions,considering the perspectives of commercial flow,physical logistics,and information flow.It finds that the development of the data factor market enhances the information circulation system,improves the property rights transfer system,refines the logistics system for data commodities,and facilitates off-exchange data trading,thereby achieving"enhanced circulation efficiency"of data elements.Furthermore,by integrating with traditional production factors,data elements correct structural distortions in traditional production functions,exerting amplification,superposition,and multiplier effects that promote"improved production efficiency"of data elements.This enhancement improves the cost-benefit expectations for enterprise digital transformation,incentivizing firms to incorporate data elements into their production functions.However,this process is moderated by external factors such as the innovation environment,policy environment,and digital economy environment.Based on this analysis,the paper proposes a policy transmission pathway:"Data Factor Market Development → Enhanced Circulation Efficiency → Improved Production Efficiency → Enterprise Digital Transformation."(2)This study employs a quasi-natural experiment approach,utilizing the establishment of local data trading platforms since 2014 as a proxy for the policy shock associated with the development of the data factor market.Causal inference is conducted using a two-way fixed effects model,with standard errors clustered at the firm level.The baseline regression results indicate that the development of the data factor market significantly promotes corporate digital transformation,particularly in terms of strategic digital transformation and tangible digital outcomes.These findings remain robust after undergoing a series of tests,including parallel trend tests,placebo tests,assessments of heterogeneous treatment effects,exclusion of confounding policies,substitution of key variables,and alternative estimation models.Furthermore,by employing a"two-step approach"to examine the transmission mechanism,the paper finds that the development of the data factor market drives enterprise digital transformation by improving transaction efficiency and enhancing the agglomeration of digital enterprises.Heterogeneity analysis using grouping variables reveals that the policy effect is more pronounced in regions characterized by higher degrees of traditional factor misallocation,superior innovation environments,more favorable policy conditions,and more developed digital economy ecosystems. This paper summarises and reviews the experiences of constructing the data factor market,clarifies the economic functions of the data factor market,and outlines its policy transmission pathways for enterprise digital transformation.Through empirical research,it examines the real-world explanatory power of policy analysis,thereby expanding and enriching the government's toolkit for promoting corporate digital transformation.The study offers valuable theoretical insights for the formulation and optimisation of future digital economy policies.关键词
数据要素市场/企业数字化转型/流通效率/生产效率/交易效率/地方数据交易平台Key words
data factor market/digital transformation of enterprises/circulation efficiency/production efficiency/transaction efficiency/local data trading platforms分类
管理科学引用本文复制引用
蒋和胜,陈乾坤,孙明茜..数据要素市场建设与企业数字化转型[J].西安交通大学学报（社会科学版）,2025,45(5):41-50,10.基金项目
国家社会科学基金西部项目(20XKS003). （20XKS003）
