北京工业大学学报（社会科学版）2026，Vol.26Issue(4)：56-71,16.DOI:10.12120/bjutskxb202604056
数据要素市场化与城市创业
Data Factor Marketization and Urban Entrepreneurship:Evidence from Data Exchange Center Establishment
摘要
Abstract
Promoting the marketization of data factors in China is an important institutional arrangement for improving resource allocation efficiency and fostering new drivers of innovation-driven growth.Using data on the first batch of data exchange centers,this paper employs a multi-period difference-in-differences(DID)model to identify the causal effect of data factor marketization on urban entrepreneurship.We find that the establishment of data exchange centers significantly increases entrepreneurship at the city-industry level.The results remain robust across an event-study design,tests of heterogeneous treatment effects,and multiple robustness checks.The effect is stronger in industries with lower total factor productivity,higher profitability,and more innovation investment.Mechanism analysis shows that easing information access constraints and improving the external financing environment are two key channels through which the policy operates.Further analysis shows that new startups mainly come from partnerships and small-and medium-sized firms.Entrepreneurial activity also shows a structural shift toward the tertiary sector.Based on the analysis in China's current stage of data factor marketization,this paper provides empirical evidence on how data institutions affect entrepreneurship and industrial structural change.It also offers policy implications for improving the data factor market system and promoting high-quality entrepreneurial development.关键词
数据要素市场化/数据交易中心/城市创业/信息约束/外部融资环境Key words
data factor marketization/data exchange center/urban entrepreneurship/information constraints/external financing environment分类
管理科学引用本文复制引用
张倩肖,王猛,段义学..数据要素市场化与城市创业[J].北京工业大学学报（社会科学版）,2026,26(4):56-71,16.基金项目
贵州省哲学社会科学规划重大课题(24GZZB14) （24GZZB14）
