Government subsidies, data assets, and firm outward foreign direct investment

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-08-26 DOI:10.1016/j.frl.2025.108288

Shaoyu Yang , Yang Lu

引用次数: 0

Abstract

This study develops a data asset dictionary based on the data value chain framework, and examines how corporate data assets affect outward foreign direct investment (OFDI) and how government subsidies moderate this relationship. The results show that data assets significantly increase both the likelihood and scale of OFDI, highlighting their strategic value in driving international expansion. Specifically, firms with higher data asset endowments are more likely to engage in overseas investment, make more frequent investment moves, and commit larger investment amounts. Additionally, government subsidies can amplify these effects.

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政府补贴、数据资产、企业对外直接投资

本研究基于数据价值链框架构建了一个数据资产字典，并考察了企业数据资产对对外直接投资（OFDI）的影响以及政府补贴对这种关系的调节作用。结果表明，数据资产显著提高了对外直接投资的可能性和规模，凸显了其推动国际扩张的战略价值。具体而言，数据资产禀赋越高的企业越有可能进行海外投资，投资动作越频繁，投资金额也越大。此外，政府补贴可以放大这些影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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