首都经济贸易大学学报2026，Vol.28Issue(3)：88-102,15.DOI:10.13504/j.cnki.issn1008-2700.2026.03.007
数据资产信息披露与企业创新韧性
Data Asset Information Disclosure and Enterprise Innovation Resilience
摘要
Abstract
In the contemporary landscape of rapid digital transformation,enhancing corporate innovation resili-ence has emerged as a critical strategic imperative for enterprises striving to navigate increasingly complex and vola-tile external environments while achieving sustainable,high-quality development.As data is formally recognized as a core factor of production,a pivotal research focus lies in exploring how to unlock its intrinsic value through trans-parent data asset information disclosure.Therefore,investigating the specific mechanisms through which data asset information disclosure facilitates data element circulation and fortifies corporate innovation resilience holds substan-tial theoretical significance and practical application value. This study employs a comprehensive panel dataset comprising Chinese A-share listed companies from 2008 to 2023.The empirical analysis yields robust findings,revealing that the active disclosure of data assets significantly enhances firms' innovation resilience.Mechanism analysis indicates that such disclosure strengthens the sustain-ability of corporate innovation capabilities to withstand external shocks through stimulating executives' innovation consciousness and forward-looking risk awareness,aggregating internal and external innovation resources,and im-proving the efficiency of technological innovation processes.Heterogeneity analysis demonstrates that the positive effect of data asset disclosure on innovation resilience is more pronounced in regions characterized by an advanced digital economy and well-developed factor markets,as well as in firms that exhibit greater digital transformation ma-turity,superior corporate governance structures,smaller organizational size,and higher data intensity.Economic consequence tests further indicate that data asset disclosure improves overall corporate resilience and firm value by bolstering innovation resilience.Based on these findings,this study proposes actionable implications:Enterprises should prioritize the strategic value of data assets and accelerate the establishment of comprehensive,rational,and efficient data asset governance systems;and the government should strengthen top-level design,establish robust fundamental institutional frameworks for data assets,and promote the refinement of standardized disclosure protocols to activate the potential of data elements and empower high-quality economic development. The marginal contributions of this study are threefold.First,distinct from existing literature,this study focuses specifically on the impact of data asset information disclosure on innovation resilience,thereby expanding the re-search boundaries regarding the economic consequences of data disclosure and the antecedents of corporate innova-tion resilience.Second,it provides new empirical evidence by verifying the mediating roles of managerial innova-tion consciousness,resource aggregation,and technical efficiency,offering a granular understanding of the underly-ing mechanisms.Lastly,by conducting heterogeneity analysis based on both internal and external factors,it en-hances the situational adaptability and practical guidance value of the research conclusions for stakeholders in di-verse environments.关键词
数据资产/创新韧性/创新意识/创新资源/创新效率Key words
data assets/innovation resilience/innovation consciousness/innovation resources/innovation ef-ficiency分类
管理科学引用本文复制引用
韩忠雪,袁翊菲..数据资产信息披露与企业创新韧性[J].首都经济贸易大学学报,2026,28(3):88-102,15.基金项目
教育部人文社会科学研究规划青年基金项目"数据要素驱动视角下数据资产的确认计量、信息披露及经济后果研究"(24YJC630239) （24YJC630239）
