Data empowerment: Market-based allocation of data elements and shaping enterprise resilience

In the face of complex and volatile internal and external environments, shaping corporate resilience under the new normal of crisis scenarios holds significant importance. Using the establishment of regional data trading platforms as a quasi-natural experiment for the market-based allocation of data elements, this study delves into the relationship between data elements and corporate resilience. The research reveals that the market-based allocation of data effectively enhances corporate resilience, primarily through improved credit accessibility, reduced supply chain dependency, and strengthened innovation incentives. Heterogeneity analysis indicates that this impact is more pronounced for small-scale enterprises, manufacturing firms, and companies operating in highly complex and uncertain external environments. Further analysis indicates that the market-based allocation of data elements can synergize with logistics standardization efforts, with their combined interaction jointly promoting enhanced corporate resilience. These findings provide crucial intellectual support and policy insights for accelerating the development of data element markets and shaping corporate resilience.