Social Sciences in China (Chinese Edition)

No. 12, 2025

Towards a Data-Based Theory of the Firm

(Abstract)

Wei Jiang and Ying Ying

Explicitly designating data as a factor of production and capitalizing data assets on corporate balance sheets represent cutting-edge managerial practices in Chinese enterprises in the digital era. Addressing the fundamental question of how data generates economic value and translates into competitive advantage presents a distinctive and important opportunity for theoretical advancement in Chinese management studies. Extending the traditional resource-based view, the data-based view of the firm elucidates the theoretical logic underlying value creation from data, analyzes the conditions under which data can be transformed into sustainable competitive advantage, and explores how new techno-economic dynamics reshape organizational and industrial structures. In the context of data factorization, this perspective offers insights for deepening strategic transformations within Chinese enterprises and for informing industrial policies.