基于多期超額收益法的數(shù)據(jù)資產(chǎn)價(jià)值評(píng)估

——以伊利集團(tuán)為例的實(shí)證分析

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中圖分類號(hào)：F275 文獻(xiàn)標(biāo)志碼：A 文章編號(hào)：007-8576（2025）03-0072-09

DOI：0.676/j.cnki.65-030/f.2025.03.007

DataAsset Valuation Based on Multi-period ExcessReturn Method： An Empirical Analysisof Yili Group，China

ZHANG Yalian12，LI Sheng1，CHENGTianji'，HUXiaoxin1

（1.Central South University of Forestry and Technology， Changsha 41OoO4， China; 2.Ecological Civilization Construction Research Base of Hunan Province，Changsha 41OoO4， China）

Abstract：Withtherapiddevelopmentofthedigitaleconomy，datahas gradualytransformedfromaninformationresourceinto adataaetcapableofgeneratingeconomicbenefits.However，inalitymostenterpriseshavenotyetincludeddataaetsin theirbalancesheets，leaving thmasoffbalnce-shetasets.This makes itdiicultforstakeholders toomprehensivelyassess thespecific impactofdataasets ontheoperational performance ofenterprises.This paperfocuses onthevaluationof data assets upontheirinclusion inthe balance sheet.Itconstructs adataaset valuation model basedon themulti-period exce return methodandconductsanempiricalanalysis using Yili Group in China asacase study.Theresearch results showthat the value of Yili Group's data assets isapproximately1O.193billion yuan，accounting for 10.16% of the overall value contribution rate.Thisindicates thatdataasets playacrucialroleinYiliGroup'svaluecreation.YiliGroup'sdeepdataaccumulationand digitaltransformationpracticeshavebroughtsignificantbenefistotenterprise;italsoconfirsthestrategicvalueofdataassets，asdata resource advantagesanddigital tansformationcan helpenterprisesenhance their marketcompetitiveness.

Keywords：data asset;value assessment;multi-period excessreturn method

一、問(wèn)題的提出

近年來(lái)，我國(guó)高度重視數(shù)字經(jīng)濟(jì)發(fā)展、數(shù)據(jù)要素及其市場(chǎng)化配置改革，發(fā)布了一系列重要政策文件，推動(dòng)數(shù)據(jù)要素市場(chǎng)快速發(fā)展和數(shù)據(jù)資源暢通流動(dòng)。（剩余8955字）