企业数据要素利用水平影响投资效率机理研究——利用数据要素激活冗余资源的中介作用  

Research on the Mechanism of the Impact of Enterprise Data Element Utilization Level on Investment Efficiency:Using Data Elements to Activate the Intermediary Role of Redundant Resources

作　　者：史青春[1] 牛悦 徐慧 SHI Qing-chun;NIU Yue;XU Hui

机构地区：[1]兰州大学管理学院

出　　处：《中央财经大学学报》2023年第11期105-115,共11页Journal of Central University of Finance & Economics

基　　金：教育部人文社科青年西部项目“政策不确定性对企业投资升级影响研究”(项目编号:19XJC630004)。

摘　　要：企业生产经营中通过提高数据要素利用水平提升投资效率的机制,有赖于利用数据要素激活冗余资源所发挥的中介作用以及企业自身吸收能力的调节作用。笔者基于资源基础理论、代理理论以及吸收能力理论,构建了一个有调节的企业数据要素利用水平影响投资效率机制的研究模型,以国泰安数据库(CSMAR)2011—2021年沪深A股上市公司相关有效数据,运用多元线性回归分析方法,实证检验了企业数据要素利用水平与其投资效率之间的关联及其变化状况。检验结果证实:企业数据要素利用水平与其投资效率正相关;企业利用数据要素激活冗余资源对企业利用数据要素提高其投资效率具有中介作用;企业自身吸收能力正向调节企业利用数据要素激活冗余资源之间的关系。本研究尝试性地将资源基础理论、代理理论和吸收能力理论拓展到实证检验企业数据要素利用水平与其投资效率之间的内在关系上,所揭示的关于企业数据要素利用水平影响投资效率机制之研究结论,将丰富有关数据要素、投资效率、冗余资源、企业吸收能力等方面的相关文献,有助于为企业利用数据要素提升投资效率提供理论依据。The mechanism of improving the investment efficiency by improving the utilization level of data elements in the production and operation of enterprises depends on the intermediary role played by using data elements to activate redundant resources and the regulatory role of the enterprise s own absorptive capacity.Based on the resource-based theory,agency theory and absorptive capacity theory,the author constructs a research model of the mechanism of regulated enterprise data element utilization level affecting investment efficiency.using the relevant effective data of Shanghai and Shenzhen A-share listed companies from 2011 to 2021 in the guotai an database(CSMAR),the author empirically tests the relationship between enterprise data element utilization level and its investment efficiency and its changes by using multiple linear regression analysis method.The test results show that:the level of enterprise data element utilization is positively correlated with its investment efficiency;using data elements to activate redundant resources plays an intermediary role in improving the investment efficiency of enterprises by using data elements;the absorptive capacity of enterprises positively regulates the relationship between the use of data elements to activate redundant resources.This study attempts to expand the resource-based theory,agency theory and absorptive capacity theory to empirically test the internal relationship between the utilization level of enterprise data elements and its investment efficiency.The research conclusion on the mechanism of the impact of the utilization level of enterprise data elements on investment efficiency will enrich the relevant literature on data elements,investment efficiency,redundant resources,and enterprise absorptive capacity.It helps to provide a theoretical basis for enterprises to improve investment efficiency by using data elements.

关 键 词：数据要素 投资效率 冗余资源 吸收能力 

分 类 号：F275[经济管理—企业管理] F832.5[经济管理—国民经济]