Abstract:    Improving the efficiency of enterprise resource allocation is the key to ensure cost control, enhance productivity and enhance competitiveness. As an important new factor of production in the era of digital economy, it is worth exploring whether enterprises can improve their resource allocation efficiency through marketization of data elements. Based on the data of Shanghai and Shenzhen A-share listed companies from 2011 to 2022, this paper constructed a dual difference model to effectively test the influence effect and action path of the marketization of data elements on the enterprise resource allocation efficiency. The study found that: (1) the marketization of data elements has significantly improved the efficiency of enterprise resource allocation, and the influence on high degree of market segmentation, strong factor flow and high degree of market competition is more obvious in regions and industries; (2) the marketization effect of data element construction on improving the efficiency of enterprise resource allocation is mainly realized through cost saving effect and digital technology innovation; and (3) the marketization of data elements increases the total productivity by affecting the efficiency of enterprise resource allocation, and the overall trend of first decreasing, then decreasing and then increasing. This paper will enrich the relevant research on the economic consequences of the marketization of data elements, reveal the internal mechanism of the marketization of data elements to improve the efficiency of enterprise resource allocation, and provide empirical evidence for further improving the efficiency of enterprise resource allocation and promoting the development of market economy.

Key words: data factor marketization, data trading platform, enterprise resource allocation efficiency, total productivity