Data Elements Empower Enterprise Innovation: From the Perspective of Internal and External Resources

Abstract

Abstract: Giving full play to the role of data elements to empower enterprise innovation and development is an important channel for the high-quality development of China’s economy. Based on the data of A-share listed companies from 2007 to 2022, this paper measures data elements from four dimensions, namely, data element stock, data development capability, data-driven business application, and data value realization, respectively, to explore the impact of data elements on enterprise innovation. It is found that data elements are conducive to improving corporate innovation. From the perspective of internal resources, data elements significantly reduce the level of information asymmetry, which in turn promotes enterprise innovation, and executives with information technology backgrounds are better able to utilize data elements to reduce the level of information asymmetry in enterprises, which in turn better promotes enterprise innovation. From the perspective of external resources, data elements enhance innovation by reducing the concentration of the enterprise supply chain and obtaining more diversified external resources. Further research finds that data elements are more effective in promoting innovation for firms in growth and decline periods, firms in non-polluting industries, and firms in cities with better digital economy development. The research provides evidence on how enterprises can realise independent innovation and how data elements can empower the real economy to develop at a high quality.

Key words: data element, enterprise innovation, information asymmetry, supply chain concentration, human capital

Chen Lili, Zhang Ruoqi, Rong Ke. Data Elements Empower Enterprise Innovation: From the Perspective of Internal and External Resources[J]. Management Review, 2024, 36(12): 15-25.

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