华东经济管理

在数字经济与实体经济深度融合的现实背景下，数据资产作为企业数字化转型中的新兴资产类型，已经成为影响企业数字技术创新的关键战略资源。本文利用2007—2023年中国A股上市公司的经验数据，采用面板数据回归的方法，系统考察数据资产信息披露对企业数字技术创新的影响及边界。结果表明：第一，随着企业数据资产信息披露水平的提高，数字技术创新呈现先增后降的倒U型关系；第二，企业数据资产信息披露与数字技术创新之间的倒U型关系因企业内外部制度环境不同而异，随着内部控制水平和外部知识产权保护强度的提升，企业数据资产信息披露对数字技术创新的促进作用随之增强，对数字技术创新的抑制作用随之减弱。本文揭示了企业数据资产信息披露与数字技术创新之间复杂的非线性关系及其边界条件，对更好地促进企业数字技术创新具有重要启示意义。

Against the backdrop of the deep integration of the digital economy and the real economy, data asset, as an emerging asset category in enterprise digital transformation, have become a critical strategic resource influencing digital technology innovation. Using empirical data from China's A-share listed companies from 2007 to 2023, this study employs panel data regression methods to systematically examine the impact of data asset information disclosure on enterprise digital technology innovation and its boundaries. The findings reveal that: First, as the level of data asset information disclosure increases, digital technology innovation follows an inverted U-shaped pattern, initially rising and then declining. Second, the inverted U-shaped relationship between data asset information disclosure and digital technology innovation varies with different internal and external institutional environments of enterprises. Specifically, higher internal control quality and stronger external intellectual property protection enhance the promoting effect and mitigate the inhibiting effect of data asset information disclosure on digital technology innovation. This study uncovers the complex nonlinear relationship between data asset information disclosure and digital technology innovation and its boundary conditions, offering important implications for better fostering enterprise digital technology innovation.