{"title":"Data Elements Marketization and Corporate ESG Performance: A Quasi-Natural Experiment Based on China's Data Trading Platforms Pilot Policies","authors":"Caishi Zhang, Fangyi Lin, Yichuan Shi","doi":"10.1111/ecpo.70023","DOIUrl":null,"url":null,"abstract":"<div>\n \n <p>This article investigates the impact of Data Element Marketization (DEM) on corporate Environmental, Social, and Governance (ESG) performance, using a quasi-natural experiment based on China's data trading platforms pilot policies. Employing a Difference-in-Differences (DID) framework, we find that DEM significantly enhances ESG outcomes by alleviating financing constraints, promoting digital transformation, and strengthening external supervision. Our results highlight that firms with higher intangible asset intensity and those located in more marketized regions experience stronger improvements in ESG performance. Additionally, DEM also helps mitigate greenwashing behaviors. This study contributes to the understanding how market mechanisms for data circulation can drive corporate sustainability and offers policy implications for advancing DEM reforms.</p>\n </div>","PeriodicalId":47220,"journal":{"name":"Economics & Politics","volume":"38 1","pages":"287-305"},"PeriodicalIF":1.4000,"publicationDate":"2025-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics & Politics","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ecpo.70023","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This article investigates the impact of Data Element Marketization (DEM) on corporate Environmental, Social, and Governance (ESG) performance, using a quasi-natural experiment based on China's data trading platforms pilot policies. Employing a Difference-in-Differences (DID) framework, we find that DEM significantly enhances ESG outcomes by alleviating financing constraints, promoting digital transformation, and strengthening external supervision. Our results highlight that firms with higher intangible asset intensity and those located in more marketized regions experience stronger improvements in ESG performance. Additionally, DEM also helps mitigate greenwashing behaviors. This study contributes to the understanding how market mechanisms for data circulation can drive corporate sustainability and offers policy implications for advancing DEM reforms.
期刊介绍：
Economics & Politics focuses on analytical political economy, broadly defined as the study of economic and political phenomena and policy in models that include political processes, institutions and markets. The journal is the source for innovative theoretical and empirical work on the intersection of politics and economics, at both domestic and international levels, and aims to promote new approaches on how these forces interact to affect political outcomes and policy choices, economic performance and societal welfare. Economics & Politics is a vital source of information for economists, academics and students, providing: - Analytical political economics - International scholarship - Accessible & thought-provoking articles - Creative inter-disciplinary analysis
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