Data-Driven Revolution: Advancing Scientific and Technological Innovation in Chinese A-Share Listed Companies

Abstract

AbstractThe transformative role of big data technology in fostering scientific and technological innovation, leading to sustainable development and economic growth, has become increasingly crucial in modern business environments. This study utilizes text analysis of annual financial reports from Chinese A-share listed companies to assess the frequency of keywords related to big data application technology. Through panel data regression, the research investigates the significant impact of big data technology on scientific and technological innovation across diverse industries while controlling for relevant financial and corporate governance variables. The findings reveal a positive correlation between big data application technology and scientific and technological innovation, even after accounting for control factors. Moreover, private enterprises emerge as influential contributors to scientific and technological advancement. The study highlights the theoretical implications of integrating big data technology with the real economy to optimize resources effectively, and the policy implications call for targeted strategies to nurture innovation in established and growing enterprises. As future research prospects, this study lays the groundwork for exploring additional dimensions of big data technology’s impact on innovation and its implications for sustainable development in the ever-evolving business landscape.