Public data openness and corporate total factor productivity

Abstract

Public data openness is a crucial initiative in advancing the development of digital government and the digital economy strategy. This study utilizes data from China's A-share listed companies from 2010 to 2022 and employs a multi-period difference-in-differences (DID) model to analyze the impact of public data openness on corporate total factor productivity (TFP). The conclusions are as follows: (1) Public data openness can enhance corporate total factor productivity. This conclusion remains robust after considering the heterogeneous treatment effects and addressing endogeneity issues. (2)Public data openness improves corporate total factor productivity by reducing information asymmetry, enhancing corporate operational capabilities, and optimizing the market environment. (3)Heterogeneity analysis reveals that public data openness has a more significant impact on improving TFP for companies in eastern regions and non-manufacturing industries. Moreover, this improvement is more pronounced in firms with higher market positions and greater resilience. Based on these findings, this research provides empirical evidence and policy insights for advancing public data openness, improving corporate productivity, and strengthening the stability and resilience of the socio-economic system.