{"title":"数据因素、金融错配和企业创新的定价权丧失:来自准自然实验的证据","authors":"Ying Du, Jing Tong","doi":"10.1016/j.frl.2025.107900","DOIUrl":null,"url":null,"abstract":"<div><div>This study is based on enterprise panel data from 2014 to 2023 and systematically explores the dynamic relationship between the lack of pricing power for data factors, financial mismatch, and corporate innovation. Through the construction of multidimensional econometric models, the research finds that the absence of pricing power for data factors suppresses corporate innovation; financial mismatch hinders corporate innovation; and the policies of digital economy demonstration zones mitigate the negative impacts of the lack of pricing power and financial mismatch.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"85 ","pages":"Article 107900"},"PeriodicalIF":6.9000,"publicationDate":"2025-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Loss of pricing power for data factors, financial mismatches, and corporate innovation: Evidence from a quasi-natural experiment\",\"authors\":\"Ying Du, Jing Tong\",\"doi\":\"10.1016/j.frl.2025.107900\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study is based on enterprise panel data from 2014 to 2023 and systematically explores the dynamic relationship between the lack of pricing power for data factors, financial mismatch, and corporate innovation. Through the construction of multidimensional econometric models, the research finds that the absence of pricing power for data factors suppresses corporate innovation; financial mismatch hinders corporate innovation; and the policies of digital economy demonstration zones mitigate the negative impacts of the lack of pricing power and financial mismatch.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"85 \",\"pages\":\"Article 107900\"},\"PeriodicalIF\":6.9000,\"publicationDate\":\"2025-07-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612325011584\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325011584","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Loss of pricing power for data factors, financial mismatches, and corporate innovation: Evidence from a quasi-natural experiment
This study is based on enterprise panel data from 2014 to 2023 and systematically explores the dynamic relationship between the lack of pricing power for data factors, financial mismatch, and corporate innovation. Through the construction of multidimensional econometric models, the research finds that the absence of pricing power for data factors suppresses corporate innovation; financial mismatch hinders corporate innovation; and the policies of digital economy demonstration zones mitigate the negative impacts of the lack of pricing power and financial mismatch.
期刊介绍:
Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies.
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