The relationship between the level of data utilization and the development of new quality productive forces within enterprises: Evidence from China

In the heat wave of computing and business, how to effectively utilize data has become the key to promoting the development of new quality productive forces within enterprises. This paper explores the relationship between the level of data utilization and the development of new quality productive forces within enterprises. We construct a regression model using panel data of China's A-share listed companies from 2018 to 2022. The study employs entropy weight method to measure the weight of various indicators of new quality productive forces and uses web crawler to perform text analysis on the annual reports of sample companies, extracting the number of disclosures of digital technologies as a proxy for the level of data utilization within enterprises. Baseline results indicate a positive relationship between the level of data utilization and the development of new quality productive forces within enterprises. This paper also examines regional heterogeneity and reveals that the positive effect is more pronounced in central and eastern regions compared to the western region. Furthermore, we discuss mechanisms such as innovation level and financing constraints that may explain this relationship.