Abstract: As data serve as the core foundation for the development of artificial intelligence (AI), whether its market-oriented allocation can effectively stimulate urban AI entrepreneurial vitality constitutes a critical issue in the current digital economy era. Based on the panel data of 271 Chinese cities from 2008 to 2023, this paper employs the establishment of data trading platforms as a quasi-natural experiment to systematically investigate into the impact and the underlying mechanism of data factor marketization on urban AI entrepreneurial vitality. The research findings indicate that data factor marketization significantly enhances urban AI entrepreneurial vitality. Mechanism analysis reveals that promoting venture capital development and stimulating entrepreneurship are crucial transmission pathways through which data factor marketization empowers AI entrepreneurial vitality. Heterogeneity analysis shows that the promoting effect of data factor marketization is more pronounced in cities with high data transmission efficiency, high education level, and in those located in the eastern coastal regions. Further spatial effect tests uncover the fact that data factor marketization generates positive spatial spillover effects, which effectively boosts AI entrepreneurial vitality in the neighboring cities. This study not only deepens the understanding of the relationship between data factors and entrepreneurship theory, but also provides a scientific basis for optimizing the design of data factor market and formulating precise AI industry policies.

Key words: Data Factor Marketization, AI Entrepreneurial Vitality, Venture Capital, Entrepreneurship

摘要： 本文基于2008—2023年我国271个城市的面板数据,以数据交易平台的设立为准自然实验,系统考察数据要素市场化对城市人工智能创业活力的影响效应和作用机制。研究结果发现:数据要素市场化显著提升城市人工智能创业活力,而推动风险投资发展和激发企业家精神是其重要的传导路径;在数据传输效率较高、教育水平较高及东部沿海的城市,数据要素市场化对人工智能创业活力的促进作用更突出;数据要素市场化具有正向的空间溢出效应,有效带动周边城市人工智能创业活力的提升。本研究不仅有助于深化对数据要素与创业理论二者关系的认识,也为优化数据要素市场设计和制定精准的人工智能产业政策提供科学依据。

关键词: 数据要素市场化, 人工智能创业活力, 风险投资, 企业家精神