Research on the Influence Mechanism of Data Elements on Total Factor Productivity of Enterprises:Crack the"Data Productivity Paradox"
In the era of digital economy,the large-scale availability and low price of data make it become a key element and an important strategic resource,which contains huge economic value.The vigorous development of data elements provides new development opportunities for enterprises to break the development bottleneck,especially the non-competitive,non-exclusive and increasing marginal returns characteristics of data elements that are different from traditional elements have a pull on the new development mode.Data elements become an important path for enterprises to achieve high-quality development.This paper takes the data of listed companies in China from 2007 to 2021 as a sample,and uses Python to crawl annual reports of listed companies for empirical investigation into the impact of data elements on total factor productivity(TFP)of enterprises.The findings are as follows:(1)Data elements improve the TFP of enterprises;(2)Data elements improve the TFP of enterprises by improving their dynamic capabilities,including adaption capability,absorption and innovation capability;(3)data elements in non-state-owned enterprises,small and medium-sized enterprises,high-tech industries,enterprises in the central and western region and mature enterprises have a greater effect on the improvement of TFP;(4)Organizational empowerment,environmental support,technology-driven,strategic guidance and data elements form complementary effects,promote enterprise TFP,which explains whether there is a"data productivity paradox"to a certain extent.The marginal contribution of this paper is reflected in the following aspects:First,the text analysis method is used to capture the relevant keywords of data elements to reflect the level of data elements.By constructing enterprise-level data elements measurement indicators,text analysis can measure the level of enterprise data factor more fine-grained,accurate and large-scale.Second,it examines how data elements can improve total factor productivity by improving dynamic capability.This not only broadens the scope of application of dynamic capabilities,but also enriches the realization mechanism of data elements to improve the TFP of enterprises.Thirdly,the paper explores the complementary effect of data elements with organizational empowerment,environmental support,technology drive and strategic guidance on TFP of enterprises.This is conducive to integrating organizational empowerment,environmental support,technology drive,and strategic guidance into the analytical framework of the impact of data elements on enterprise TFP,giving play to their complementary effects,and further explaining whether there is a"data productivity paradox".In terms of policy suggestions:First,establish and improve the basic system of data elements.It is necessary to establish and improve the basic system of data elements including data elements right confirmation and data elements pricing,so as to break through data barriers,activate the value of data elements,and give full play to the role of data elements in improving the TFP of enterprises.Second,fully cultivate the dynamic ability of enterprises.It is necessary to strengthen the ability to adapt to the external environment,to absorb external resources,and to develop new products and optimize product quality innovation.Third,strengthen the complementary effect of data elements.The productivity attributes of data elements bring about changes in the production relations of data elements,which means that data production relations need to adapt to data productivity,forming complementary effects between data elements and organizational empowerment,environmental support,technology drive and strategy guidance,thus promoting the growth of TFP of enterprises.Fourth,strengthen the breadth and depth of use of data elements.Data elements continue to sink to non-state-owned enterprises,small and medium-sized.enterprises,high-tech industries,central and western regions,and the maturity of enterprises,so as to achieve the integration of data elements with more scenarios,give play to the multiplier effect of data elements,and promote the significant improvement of TFP of enterprises.
data elementsenterprise total factor productivitydynamic capabilityproductivity paradox
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