The Mechanism of Government Digital Attention in Empowering the Improvement of Enterprise Total Factor Productivity

Basic corporate financial information and data are sourced from the Wind and CSMAR databases, while government digital attention data is obtained by crawling publicly available documents from various levels of government and the Peking University Magic (PKULaw) database.Concurrently, the following treatments are applied to the initial sample:(1) exclusion of samples from ST, PT, and companies facing delisting;(2) exclusion of samples from financial industry enterprises;(3) removal of observations with missing values for key variables;(4) winsorization of all continuous variables at the 1st and 99th percentiles to mitigate the influence of outliers.The final dataset constitutes an unbalanced panel comprising 24,453 firm-year observations.