Research on the Impact of Digital Inclusive Finance on the Stock Price of Listed Companies in the Data Industry

近年，数字普惠金融飞速发展，影响着各行各业，而随着数据在我国被列为新的生产要素，数据产业的建设越来越重要。本文选择2011~2023年数据产业上市公司股票价格的年度面板数据作为研究样本，将其和省级层面的数字普惠金融指数进行匹配，建立固定效应模型，探究数字普惠金融与数据产业股价的关系。研究表明，数字普惠金融能显著促进数据产业股价提升，尤其对属于非国企央企的数据产业上市公司的股价影响更为显著。据此，应该加大数字化建设，促进数字经济的同时推动我国数据产业发展。In recent years, digital inclusive finance has developed rapidly, impacting various industries. As data is increasingly recognized as a new factor of production in China, the construction of the data industry has become increasingly important. This paper selects annual panel data on stock prices of listed companies in the data industry from 2011 to 2023 as the research sample and matches it with provincial-level digital inclusive finance indices. A fixed effects model is established to explore the relationship between digital inclusive finance and stock prices in the data industry. The study reveals that digital inclusive finance significantly promotes an increase in stock prices within the data industry, particularly for non-state-owned enterprises. Therefore, it is essential to enhance digital infrastructure development to promote not only the growth of the digital economy but also advance China’s data industry development.