摘要
在数字经济与实体经济深度融合的背景下,推进数据要素市场化成为数字中国建设的重要举措。本文构建异质性企业模型,分析了数据要素市场化对企业市场势力的作用机制,并以国家大数据综合试验区设立为准自然实验,采用2003-2023年中国制造业上市公司数据进行定量考察。研究发现:数据要素市场化显著降低了制造企业市场势力,信息壁垒削弱与融合成本增加在作用机制中发挥主导作用。异质性分析表明,数据要素市场化对于低数据应用能力企业、非数字密集型制造企业、非国有企业以及小型、非劳动密集型与高生产效率企业的市场势力的抑制作用更明显。进一步研究发现,数据要素市场化过程中的外部市场营商环境至关重要,更为优质的雇佣、融资、创新以及通信环境能够强化数据要素市场化降低企业市场势力的效果。本文研究为理解数据要素市场化对企业竞争行为的影响提供了新的视角,为构建高水平社会主义市场经济体制、推动数字经济与实体企业深度融合提供了经验证据。
With the deepening development of a new round of technological revolution and industrial transformation,the value of data as a critical production factor has become increasingly prominent.However,the high concentration of data resources intensifies the"digital divide",as leading enterprises leverage their advantages in data factors to continuously strengthen their market power.This trend has resulted in declining allocative efficiency and an overall loss of social welfare.How to dismantle data barriers and build a fair and competitive data factor market has become a key issue in China's efforts to accelerate its transition from a major digital economy to a global digital powerhouse.In recent years,the Chinese government has attached great importance to the marketization of data factors,introducing a series of policies to promote their orderly flow and effective allocation.Unlike traditional factors of production,data factors exhibit a selfreinforcing nature,leading to a coexistence of"higher marketization and the strengthening market power".This phenomenon challenges the conventional belief that"the free flow of factors necessarily promotes competition",highlighting the urgent need to develop new theoretical frameworks to explain this dynamic better.Against this backdrop,revealing the impact of data factor marketization on firms'market power and uncovering the underlying mechanisms carries significant policy implications for improving the governance of the data factor market and accelerating the construction of a Digital China.Building on the heterogeneous firm model developed by Melitz&Ottaviano(2008),this paper introduces the concept of data factor marketization into the theoretical analysis and constructs a framework to examine its effects on firms'market power.Theoretical analysis shows that data factor marketization exerts a dual impact:On the one hand,it suppresses firms'market power by lowering information barriers,intensifying market competition,and raising firms'marginal costs during the data integration process;On the other hand,it strengthens firms'control over the market by improving management efficiency and reducing internal governance costs.In the empirical section,this paper utilizes panel data of Chinese A-share listed manufacturing firms from 2003 to 2023.By leveraging the establishment of the national big data comprehensive pilot zones as a quasi-natural experiment,the paper employs a difference-in-differences(DID)method to identify the causal impact of data factor marketization on firms'market power.The empirical findings reveal that data factor marketization significantly weakens the market power of manufacturing firms.This conclusion remains robust after a series of robustness tests,including parallel trend tests and propensity score matching(PSM).Mechanism tests further show that the primary transmission channels through which data factor marketization reduces firms'market power are the reduction of information barriers and the increase in integration costs.Heterogeneity analysis indicates that the suppressing effect of data factor marketization on firms'market power is more pronounced among firms with weaker data application capabilities,those operating in non-digital-intensive manufacturing sectors,non-state-owned enterprises,smaller firms,non-labor-intensive enterprises,and firms with higher productivity.Moreover,the analysis of moderating effects reveals that a more favorable external environment,characterized by better employment conditions,more accessible financing,stronger innovation capacity,and more advanced communication infrastructure,can amplify the role of data factor marketization in reducing firms'market power.Compared to existing literature,this paper provides several marginal contributions.Firstly,from the perspective of research focus,unlike prior studies that primarily examine the effects of data factor marketization on firms'productivity and financing constraints,this paper shifts the attention to market competition,systematically investigating how data factor marketization influences the market power of manufacturing firms,which enriches research on the impact of data factors on the real economy.Secondly,in terms of mechanism exploration,this paper incorporates information barriers,integration costs,and management efficiency into a unified analytical framework,revealing different transmission pathways from a general equilibrium perspective.Thirdly,on the policy front,this paper systematically analyzes the heterogeneous effects of data factor marketization on firms'market power,combining firm-level and regional characteristics to offer a nuanced view of how different enterprise groups behave under data factor marketization.The conclusions provide valuable empirical evidence for government agencies and policymakers seeking to optimize the supply structure of data factors,foster a fair and competitive market environment,promote the deep integration of the digital economy with the real economy,and ultimately advance high-quality economic development.
作者
汪芳
张赞
赵玉林
WANG Fang;ZHANG Zan;ZHAO Yulin(Wuhan University of Technology,Wuhan,China;Hubei Provincial Center for Scientific&Technological Innovation and Economic Development,Wuhan,China)
出处
《经济学动态》
北大核心
2025年第4期87-105,共19页
Economic Perspectives
基金
国家社会科学基金一般项目“数字经济背景下制造业与互联网融合的产业组织重构与绩效提升机制研究”(22BJY264)。
关键词
数据要素市场化
市场势力
国家大数据综合试验区
信息壁垒
融合成本
Data Factor Marketization
Market Power
National Big Data Comprehensive Pilot Zone
Information Barriers
Integration Costs
