liu bai and zhang ailian

SCHOOL of Business and Management, Jilin University

　　bet365 best casino games This Study Uses A Sample of A-Share Listed Companies to Investigate The IMPACT of China's Data Basic System on Capital Markut Ions and the Mechanism by Which It Exrts Influence. The Policy Announdment, Listed Companies with High Data Resources Experience a Significantly Higher Abnorern Compared to Those with Low Data Resources. Moreover, This Differente Becomes More Pronound as Enterprise Technology Intensity IncessSity. FURTHERMORE, The Policy Enhances The Capital Market ’s Perception of the Value of Data Resources and Its Potential for Generation MultipLier Effects. Al tests confirm that post-implementation of the polished, The Capital Market Reevaluates The Long-Term Value of Enterprises Association with Data Resources. Pirical Evidence to Support Academic Research, Inform Policy Formulation, And Guide Strategic Planning in Relevant INDUSTRIES.

　　Keywords: Data Resources, Technology Intensity, Market Value, Event Study, Abnormal Return