How does open public data impact enterprise digital transformation?

Digital transformation has become a core competency for enterprises. Based on the data of Chinese A-share companies from 2010 to 2021, this study examines the impact of open public data on enterprises' digital transformation using the DID model. The findings indicate that public data openness has a significant influence on driving enterprises' digital transformation and extensive robustness checks confirm the reliability of the results. Mechanism tests reveal that public data openness can drive enterprise digital transformation by reducing operating costs, strengthening managements' strategic perceptions, and intensifying competition in local markets. The results of the heterogeneity analysis indicate that the facilitating effect of public data openness on enterprises' digital transformation is more pronounced in regions that are not data trading centers, firms with a low degree of intelligence, and labor-intensive industries. The findings of our study offer new insights into the practical implications of public data openness, while also providing valuable guidance for other developing countries seeking to drive enterprises' digital transformation.