Platform Economy, Data Asset Valuation, and Risk Governance: A Framework for Analysis and Response

Abstract

The platform economy has positioned data as a critical production factor, yet data asset valuation faces systemic risks that remain inadequately governed. This paper develops an integrated framework addressing three questions: What distinctive risks characterize platform-based data valuation? How do these risks originate? How can an effective governance framework respond? The coupling of platform characteristics—network effects, multi-sided markets, data-driven operations—with data asset features—non-rivalry, value uncertainty, property ambiguity—generates a distinctive risk spectrum across the valuation process. These risks stem from interacting technological, economic, and institutional factors that reinforce one another. Drawing on collaborative governance theory, we propose a multi-actor framework engaging government, platforms, users, and third parties in differentiated but coordinated roles. Game-theoretic analysis reveals that incentive-compatible mechanisms are essential for aligning private interests with public goals. The framework integrates risk diagnosis with governance response, offering theoretical contributions and practical implications for stakeholders navigating data-driven value creation.