公共数据开放与企业创新：基于新三板企业的经验证据

Public Data Openness and Firm Innovation: Empirical Evidence from NEEQ-Listed Companies

摘要: 新三板企业在复杂多变的环境中保持并提升创新水平，对其抵御风险、实现可持续发展至关重要。本文旨在考察公共数据开放能否及如何提升新三板企业的创新。以2015~2024年新三板挂牌企业为样本，依托各地级市公共数据开放平台陆续上线的准自然实验，构建多时点双重差分模型进行实证检验。研究发现：第一，公共数据开放显著提升了企业的创新；第二，机制分析表明，这一提升效应主要通过降低企业对政府补贴的依赖与抑制其寻租行为两条路径实现。本研究不仅从经验上验证了公共数据开放的微观创新赋能效应，也为政府优化数据开放策略、分类支持企业创新发展提供了决策参考。

Abstract: For NEEQ-listed firms, maintaining and enhancing innovation in a complex and changing environment is crucial for mitigating risks and achieving sustainable development. This paper investigates whether and how public data opening can enhance the innovation of NEEQ-listed firms. Using a sample of NEEQ-listed firms from 2015 to 2024, and leveraging the staggered rollout of public data opening platforms at the prefecture-level city level as a quasi-natural experiment, we construct a time-varying difference-in-differences (DID) model for empirical analysis. The findings are as follows: First, public data opening significantly improves firm innovation. Second, mechanism analysis reveals that this innovation-enhancing effect operates primarily through two pathways: reducing firms’ reliance on government subsidies and curbing their rent-seeking behaviors. This study not only provides empirical evidence for the micro-level innovation-enabling effect of public data opening but also offers policy insights for governments to optimize data opening strategies and provide differentiated support for firm innovation.