Influence Mechanism of Digital Economy on Biotechnology Corporate Governance Model
Chongyou Ruan
College of Business and Management, Ningbo University of Finance & Economics, Ningbo, Zhejiang, 315175, China
Yiwen Ruan
Business School, Yunnan University of Finance and Economics, Kunming, Yunnan,.650221, China
Zhuochen Wu
College of Business and Management, Ningbo University of Finance & Economics, Ningbo, Zhejiang, 315175, China
DOI:https://doi.org/10.5912/jcb2490
Abstract:
Numerous new technologies, business forms, and models have emerged as a result of the digital economy, altering the development landscape and interaction strategies of micro-enterprises and posing significant challenges to the field of biotechnology corporate governance research based on principal-agent costs and information asymmetry. Investigation of biotechnology corporate governance framework and mechanisms in light of the following heightened needs and challenges. This paper examines how the rise of the digital economy has prompted a shift in the concepts and models underlying biotechnology corporate governance using a big data approach. According to empirical research based on the data of A-share listed companies from 2012 to 2020, the extent to which an enterprise participates in the digital economy is positively associated with the quality of its biotechnology corporate governance. Based on the results of the path analysis, it is evident that the adoption of digital economic practices improves biotechnology corporate governance by reducing information asymmetry and rationalizing managers' decision-making. This paper integrates dimensionality reduction technology and cluster analysis to mine and analyze enterprise management data, thereby providing effective application value for anomaly detection in enterprise management. This study's findings can serve as a benchmark for advancing biotechnology corporate adoption of digital economics, improving biotechnology corporate governance, and enhancing managerial decision-making efficiency.