Abstract:    As the acceleration of public data openness and sharing becomes a core task in China′s digital government construction, understanding how enterprises can leverage public data openness to enhance their technological innovation has become a crucial issue. Based on a sample of Ashare listed firms on the Shanghai and Shenzhen Stock Exchanges from 2015 to 2021, this study employed a DID model to empirically examine the impact of public data openness on corporate technological innovation and its underlying mechanisms. The findings revealed that public data openness significantly enhances corporate technological innovation. The mechanism tests indicated that public data openness promotes corporate technological innovation by reducing uncertainty risks, accelerating cross-entity information flow, and lowering transaction costs associated with innovation. The heterogeneity analysis demonstrated that favorable trust environments, higher government governance efficiency, and robust digital infrastructure strengthen the positive impact of public data openness on technological innovation. Further analyses of public data characteristics showed that the enabling effect of public data openness on corporate technological innovation is more pronounced when public data is of lower geographic granularity and higher specialization. The structural analysis of corporate technological innovation revealed that public data openness contributes to both the quality effect and spillover effect of corporate technological innovation. The economic consequence tests indicated that the improvement in corporate technological innovation driven by public data openness ultimately leads to increased corporate value. This study has explored the enabling effects of public data openness from the perspective of micro-level corporate technological innovation, and will provide theoretical insights into how to better achieve the coordinated development of public data openness and innovation-driven strategies. 

Key words: public data openness, corporate technology innovation, corporate value