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The impact of data elements marketization on corporate financing constraints: Quasi-experimental evidence from the establishment of data trading platforms in China

Author

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  • Ouyang, Yingying
  • Hu, Mingzheng

Abstract

Utilizing data from Chinese A-share listed companies from 2010 to 2022, this paper develops a multi-time difference-in-differences model to explore the impact of data elements marketization on corporate financing constraints. Furthermore, we also explore the mediating roles of management effect and information effect and the heterogeneity effect across different companies. The research findings indicate that the marketization of data elements alleviates corporate financing constraints, and the effect varies across companies at different stages of the corporate life-cycle. The research conclusion offers insights for companies, especially those facing financing constraints, to actively engage in the data elements trading market.

Suggested Citation

  • Ouyang, Yingying & Hu, Mingzheng, 2024. "The impact of data elements marketization on corporate financing constraints: Quasi-experimental evidence from the establishment of data trading platforms in China," Finance Research Letters, Elsevier, vol. 69(PA).
    • Handle: RePEc:eee:finlet:v:69:y:2024:i:pa:s1544612324011619
    DOI: 10.1016/j.frl.2024.106132
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