Impact of transparent economy on high-tech enterprises in the modern business environment of China

Abstract

High-quality information support for modern high-tech enterprises in any country is of undeniable relevance. An open, accessible, and fair, transparent economy creates an atmosphere of trust in which people easily perceive transparency, fairness, and efficiency of economic management. The purpose of this study is to determine the impact of a transparent economy on the investment environment, innovation, competitive advantage, government regulation, and the formation of corporate social responsibility in the modern business environment on the example of high-tech enterprises in China. This study uses a multiple linear regression model to analyze the impact of a transparent economy on high-tech enterprises. The research sources included the CSMAR database, China’s stock market and accounting research, China’s economic and financial research database, CRSP, COMPUSTAT, and others, and financial statements of selected high-tech companies. Sustainable development, R&D and innovation, investor relations, social responsibility, and market competitiveness are identified as key aspects of the relationship between a transparent economy and high-tech enterprises. The study confirmed a positive correlation between a transparent economy and the efficiency of resource allocation of high-tech enterprises, the innovation capabilities of high-tech enterprises, the market competitiveness of high-tech enterprises, and the efficiency of state supervision of high-tech enterprises.