以2011~2022年沪深A股上市公司为研究样本，借助国家级大数据综合试验区设立的准自然实验场景，基于复合基础观的理论视角，探讨数据要素配置对企业新质生产力的影响。研究发现，数据要素配置能够赋能企业新质生产力。机制研究发现，数据资产化水平在数据要素配置与企业新质生产力之间起到显著的中介作用。调节效应检验表明，复合式能力正向调节数据要素配置与企业新质生产力之间的关系，且正向调节数据资产化水平的中介作用。异质性分析发现，数据要素配置对国有企业和高科技企业新质生产力的提升效果更为显著。

This study explores the impact of data factor allocation on firms’ new quality productivity from the perspective of the composition-based view. Using a sample of China’s A-share listed firms from 2011 to 2022, the research employs the establishment of National Big Data Comprehensive Pilot Zones as a quasi-natural experiment scenario. The results show that the data factor allocation significantly enhances firms’ new quality productivity. Mechanism research reveals that the level of data capitalization plays a significant mediating role between data factor allocation and firms’ new quality productivity. The moderating effect test shows that the composition capabilities positively moderate the relationship between data factor allocation and firms’ new quality productivity, and positively moderates the mediating effect of data capitalization level. Heterogeneity analysis shows that data factor allocation has a more significant enhancing effect on the new quality productivity of state-owned firms and high-tech firms.