数据要素市场化与数字技术创新OACHSSCD

Digital technology innovation is the core driving force for achieving high-quality development of the digital economy.Based on data from Chinese A-share listed companies from 2011 to 2022,this study treats the establishment of data trading platforms as a quasi-natural experiment and uses a multi-period difference-in-differences model to examine the impact of data factor marketization on enterprise digital technology innovation.The results show that data factor marketization can significantly drive digital technology innovation,a conclusion that remains valid after endogeneity and robustness tests.Mechanism analysis reveals that data factor marketization influences digital technology innovation by improving financial allocation,promoting factor mobility,and optimizing the innovation environment.Heterogeneity tests indicate that the positive effect of data factor marketization on digital technology innovation is more significant in regions with high levels of informatization,growth-stage enterprises,and high-tech industries.Recommendations include strengthening the construction of data trading platforms,improving the market-based allocation of data factors,promoting the rational flow of data factors,and stimulating the potential for digital technology innovation.