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This study empirically investigates the impact and mechanism of the data elements marketization on firm entry through the quasi-natural experiment of the ‘data-trading platform’ pilot. The study finds that the data elements marketization of promotes firm entry, as evidenced by the significant increase in the number of new firms in pilot cities due to the data-trading platform, and this effect exhibits notable spatial spillovers. The mechanism analysis reveals that the data elements marketization enhances regional market efficiency, expands regional market size, and stimulates regional innovation vitality, thereby creating favourable conditions for new firms to enter the regional market. The heterogeneity analysis shows that the marketization of data factors mainly promotes the entry of private enterprises, individual businesses, and firms in the secondary and tertiary industries. This effect is stronger in cities with lower administrative levels, better business environments, smaller populations, and in non-resource-based cities. Further, this study finds that the data elements marketization has facilitated structural transformations across regions, promoting both the ‘industrial pollution relocation’ and the regional industrial transformation and upgrading. Moreover, data elements marketization reinforces market competition and resource reallocation through the dynamic process of firm entry and exit, thereby promoting the dynamic optimization of market structure.
Shiquan Quan (Mon,) studied this question.
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