Data Assets,Human Capital Upgrading and Enterprise Value
In the era of digital economy,data assets play an important role in the process of enter-prise value creation.Different from the existing normative studies on data assets,this paper uses text analysis to describe the data asset indicators of listed companies.Taking Shanghai-Shenzhen A-share listed companies from 2009 to 2020 as samples,this paper theoretically analyzes and empiri-cally tests the impact of data assets on enterprise value.The intermediary effect of human capital upgrading in the process of data assets affecting firm value is further discussed.The research results show that,first,data assets are an effective driving force to enhance enterprise value,and this con-clusion is still valid after a series of endogenous analysis and robustness tests.Second,from the per-spective of intermediary effect,the upgrading of human capital brought by data assets,that is.the improvement of employees'education level and skill level,is conducive to the enhancement of enter-prise value.Third,for high-tech enterprises,non-state-owned enterprises,and enterprises with a high degree of industry competition,data assets have a more significant effect on the improvement of enterprise value.From the perspective of enterprise value,this paper tests the effectiveness of the data asset"entry into the table"system,which not only broadens the relevant research in the field of data assets in theory,but also provides a useful reference for enterprises to use the advanta-ges of data assets to enable enterprise value creation and develop new quality productivity in prac-tice.
Data AssetsHuman Capital UpgradingEnterprise ValueNew Productivity BoostersMediating Effect
万方数据
维普
