How Does Public Data Access Promote Enterprises'Effective Investment:From the Perspective of Capacity Utilization
As a key step in deepening supply-side structural reform,optimizing capacity utilization is crucial to promote enterprises'effective investment and accelerate the cultivation of new quality productive forces.Based on the panel data of China's listed enterprises from 2008 to 2020,this paper,from the perspective of capacity utilization,systematically investigates the impact of public data platforms at different levels on enterprises'effective investment with a difference-in-differences(DID)model.The findings of this paper are as follows.Establishing province-level public data platforms can improve enterprises'capacity utilization and promote their effective investment.However,due to the fiscal expenditure levels and government administrative capabilities of some cities,establishing city-level public data platforms does not contribute to enterprises'efficient utilization of capacity.Mechanism tests demonstrate that establishing province-level public data platforms can enhance enterprises'operational efficiency,improve the external competitive environment,and alleviate information friction,thereby improving capacity utilization.Heterogeneity analysis reveals that the role of public data platforms in optimizing capacity utilization is relatively weak in enterprises with more positive news reports and higher digitalization.Public data platforms that focus on opening public services and economic development topics and have more dispersed open topics are more conducive to promoting enterprises'efficient utilization of capacity.Moreover,the role of public data platforms in optimizing capacity utilization has spillover effects at both the geographical and industry levels.This paper may have the following marginal contributions.On the one hand,as the digital economy becomes a key factor in changing the global economic structure,this paper examines how the increase in the supply of public data elements improves enterprises'capacity utilization,which not only contributes to a deeper understanding of how data elements empower the development of new quality productive forces from the perspective of public data supply but also enriches relevant research on evaluating the effectiveness of public data access.On the other hand,unlike most previous studies that focus on quantitatively evaluating the effectiveness of policy pilots at a specific level,this paper compares and analyzes the different effects of province-level and city-level public data platforms in optimizing capacity utilization and attempts to explain it from the perspectives of urban fiscal expenditure levels,government administrative capacity,etc.The relevant conclusions not only provide theoretical and empirical support for the construction of public data platforms at different levels but also enrich related literature on industrial policies.
public data accesscapacity utilizationspillover effecteffective investment
NETL
NSTL
万方数据
