企业数据要素应用同群效应及其实现机制研究

赵 丽¹　胡植尧²

（1.宁波大学；2.中国社会科学院大学）

内容提要：数字经济时代，数据要素成为重要的战略性资源，企业彼此竞相模仿应用数据要素。本文以2007—2021年中国上市公司数据为样本，实证研究企业数据要素应用的行业同群效应及其实现机制。研究结果显示，企业数据要素应用具有行业同群效应，即同行企业数据要素应用对企业数据要素应用具有促进作用，且经过内生性分析和稳健性检验后，研究结论依然成立。内部实现机制表明，企业代理成本越高、内部数据要素循环累积越多，企业数据要素应用的行业同群效应越强；外部实现机制表明，信息学习越强、行业竞争越激烈，企业数据要素应用的行业同群效应越强。进一步分析结果表明，企业数据要素应用行业同群效应遵循“先内后外”定律，即企业更倾向于模仿产权性质相同、规模类似的同行企业。本文的研究在一定程度上有利于降低企业决策成本、决策风险、转型风险以及不确定性，摆脱企业数据要素“不敢应用”的局面。

关键词：数据要素；数据要素应用；行业同群效应；实现机制；内外部影响

作者简介：赵丽，宁波大学商学院讲师，宁波，315211；胡植尧，中国社会科学院大学经济学院博士研究生，通信作者，北京，102488。

基金项目：国家社会科学基金年度项目“‘技术-经济’范式下企业新质生产力发展机制与路径研究”（24CJY007）

引用格式：赵丽,胡植尧.企业数据要素应用同群效应及其实现机制研究[J].经济与管理研究,2025,46(8):19-36.

Peer Effect of Enterprise Data Factor Applications and Its Realization Mechanism

ZHAO Li¹, HU Zhiyao²

(1. Ningbo University, Ningbo 315211;

2. University of Chinese Academy of Social Sciences, Beijing 102488)

Abstract: In the era of the digital economy, data factors have emerged as a vital strategic resource. Enterprises actively compete to leverage data factors to unlock data value. Previous studies have predominantly emphasized the economic value of data factors, with limited exploration of the influencing factors that drive data factor applications, particularly from the perspectives of social relations and behavioral interactions. Therefore, this paper conducts an empirical analysis using data from Chinese listed companies from 2007 to 2021, investigating the industry peer effect of enterprise data factor applications and the underlying mechanisms.

The main findings indicate that enterprise data factor applications show an industry peer effect. Specifically, data factor applications by peer enterprises positively influence focal enterprises’ data practices. This result remains valid after a series of endogeneity and robustness tests. Internal mechanisms reveal that the peer effect is more pronounced in enterprises with higher agency costs and greater accumulation of internal data resources. External mechanisms indicate that stronger information learning and more intense industry competition amplify the peer effect. Further analysis confirms that the peer effect of data factor applications follows an internal-to-external pattern: enterprises are more inclined to imitate peer enterprises with similar ownership structures and comparable sizes.

The potential contributions are threefold. First, this paper provides empirical evidence on how industry-level data factor applications influence the behaviors of focal enterprises, encouraging them to consider the strategic decisions of their peers, thereby forming a more systematic decision-making process that minimizes costs and risks. Second, it examines the internal and external mechanisms of the peer effect of enterprise data factor applications, offering theoretical and practical insights for firms to refine their data element application strategies. Third, the investigation of the peer effect of data factor applications expands the scope of research on data factor applications and broadens the theoretical horizon of peer effect research.

Based on these findings,this paper proposes the following policy implications. First, the government should take the lead in establishing industry-level data-sharing platforms. At the same time, industry associations should promote the development of standards that regulate processes and models for data factor applications, thereby lowering the entry threshold for enterprises. Second, optimizing enterprises’ internal and external environments is essential to reinforce the mechanisms of data factor applications. Third, enterprises should adopt tailored strategies to enhance targeted imitation. State-owned and non-state-owned enterprises, as well as large and small enterprises, should place greater emphasis on learning from and imitating peer enterprises with similar characteristics to enhance the practicality and implementability of their strategic decisions.

Keywords: data factor; data factor application; industry peer effect; realization mechanism; internal and external influence

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