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ORIGINAL RESEARCH
Unlocking the Value of Data: The Impact
of Market Allocation of Data Elements
on Corporate Green Innovation
1
School of Management Science & Real Estate, Chongqing University, Chongqing 400044, China
Submission date: 2024-05-22
Final revision date: 2024-07-13
Acceptance date: 2024-08-03
Online publication date: 2024-12-04
Publication date: 2025-07-22
Corresponding author
Chengcheng Zhu
School of Management Science & Real Estate, Chongqing University, Chongqing 400044, China
School of Management Science & Real Estate, Chongqing University, Chongqing 400044, China
Pol. J. Environ. Stud. 2025;34(5):5669-5686
KEYWORDS
allocation of data elementsmarket mechanismscorporate green innovationtransaction cost theorysignaling theory
TOPICS
ABSTRACT
Data elements contain great use value and potential and need to be deeply processed and circulated
in the market to fulfill their value-creating role. In our study, we employ a sample comprising Chinese
A-share listed companies for the period from 2012 to 2022. Taking the establishment of data trading
organizations as an exogenous shock, it empirically examines the impact of the allocation of data
elements through market mechanisms on corporate green innovation by constructing a multi-period
DID model. The empirical results found that the allocation of data elements through market mechanisms
can play the transaction cost-saving effect and capital factor agglomeration effect to promote enterprise
green innovation. Meanwhile, the heterogeneity analyses reveal that market-based data resource
allocation has a greater impact on green innovation for firms located in regions with advanced factor
markets and robust intellectual property protection, as well as for larger firms and those operating in
less competitive industries. This study enriches the research related to the impact of market allocation
of data, a new type of production factor, on green innovation in enterprises and provides new evidence
at the microdata level for achieving sustainable economic and social development.
CONFLICT OF INTEREST
The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
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