财经理论与实践2026，Vol.47Issue(3)：90-99,10.DOI:10.16339/j.cnki.hdxbcjb.2026.03.011
以数"促"链:企业数据资产化的供应链融资效应
Using Data to"Promote"Chains:The Supply Chain Financing Effects of Corporate Data Assetization
摘要
Abstract
This study examines the impact of corporate data assetization on supply chain finan-cing by constructing a data assetization indicator using text analysis for A-share listed companies in Shanghai and Shenzhen from 2007 to 2022.The results show that data assetization not only significantly boosts the overall scale of commercial credit financing but also optimizes its struc-ture.Mechanism analysis reveals that data assetization reduces information asymmetry between firms and suppliers,enhances trust,improves operational efficiency,and strengthens buyers' market power,thereby facilitating commercial credit financing.Heterogeneity analysis indicates that these effects are more pronounced in non-state-owned,small and medium-sized,and high-tech firms,as well as in industries with intense competition,favorable financial ecosystems,and high economic policy uncertainty.These findings suggest that advancing digital infrastructure and leveraging the financing potential of data assets are crucial for unlocking the value of data.关键词
企业数据资产化/商业信用融资/供应链关系/信息不对称Key words
corporate data assetization/commercial credit financing/supply chain relation-ships/information asymmetry分类
管理科学引用本文复制引用
牛彪,于翔,苑泽明..以数"促"链:企业数据资产化的供应链融资效应[J].财经理论与实践,2026,47(3):90-99,10.基金项目
国家社会科学基金资助项目(23BGL109) （23BGL109）
教育部人文社科基金资助项目(23YJC630110) （23YJC630110）
