In the digital economy era, how to effectively leverage data elements to promote green productivity has become a critical issue. The Big Data Comprehensive Pilot Zone (BDCPZ) serves as an institutional arrangement to promote data circulation, governance, and efficient allocation. Utilizing panel data from Chinese A-share listed firms spanning 2012–2023, this study treats the 2016 establishment of BDCPZ as a quasi-natural experiment and employs a difference-in-differences (DID) model to investigate how improvements in the data institutional environment induced by BDCPZ affect enterprise green total factor productivity (GTFP). Empirical results indicate that the establishment of BDCPZ significantly enhances GTFP, with results remaining robust across specification tests. Heterogeneity analyses demonstrate that these positive effects are more pronounced among non-heavily polluting enterprises, high-technology enterprises, and enterprises in less competitive markets. Mechanism analyses suggest that data-oriented institutional reforms primarily enhance GTFP through innovation incentives, human capital accumulation, and industrial structure upgrading. Furthermore, superior managerial efficiency and stronger managerial equity ownership amplify these positive effects. This study provides firm-level empirical evidence on the relationship between data-oriented institutional reforms and GTFP enhancement, contributing to the literature on data-driven institutional reforms and green productivity, and policy implications for optimizing data element utilization and promoting sustainable development.
Fu et al. (Fri,) studied this question.
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