School of International Business, Zhejiang International Studies University, Hangzhou, Zhejiang, China.
College of Economics, Hangzhou Dianzi University, Hangzhou, Zhejiang, China.
PLoS One. 2022 Jul 6;17(7):e0269089. doi: 10.1371/journal.pone.0269089. eCollection 2022.
As a result of business environment reforms in China's Hangzou, the cost of business has reduced, the confidence of Hangzhou enterprises has survived the COVID-19 outbreak, and foreign investment continues to increase. Nevertheless, Hangzhou's business environment has shortcomings, such as insufficient technology, talent, and intelligent infrastructure. Two unresolved questions persist: (i) Has the smart business environment stimulated corporate investment by reducing system costs and boosting corporate confidence? (ii) How do the commercial climate's shortcomings impact the relationship between the intelligent business environment and business costs/confidence? We examined the impact of a local smart business environment on the corporate investment scale in Hangzhou using factor analysis, cluster analysis, linear regression, and path analyses of data from 297 firm managers. Smart governance improved public administration, financing, and rule of law. The business environment promoted investment by increasing business confidence and decreasing institutional costs. Weak intelligent property protection and legal fairness hindered the positive influence of smart governance on business confidence and system costs. This is the first study combining business environment, smart city, and smart governance concepts to analyze the influence of local smart business environments on business confidence, institutional costs, and investment. Our conclusion on the limitation effect of intelligent business environment on enterprise investment attempts to inspire further research on the intersection of business environments and smart cities. The law of intelligent business environment attracting investment obtained in the context of China, the largest developing country with diversified economic development, is of great significance for other developing countries. Countries can attract investment and promote economic development through intelligent governance. Developing countries should construct smart service platforms, coordinate supervision of public credit, reduce financing constraint, construct a government under the rule of law, improve the quality of land management, and protect intellectual property rights.
由于中国杭州的商业环境改革，营商成本降低，杭州企业信心经受住了 COVID-19 疫情的考验，吸引外资持续增加。然而，杭州的商业环境仍存在不足，如技术、人才和智能基础设施不足。两个悬而未决的问题依然存在：（i）智能营商环境是否通过降低制度成本和增强企业信心来刺激企业投资？（ii）营商环境的不足如何影响智能营商环境与企业成本/信心之间的关系？我们利用因子分析、聚类分析、线性回归和路径分析，对 297 位企业管理者的数据进行了研究，考察了当地智能营商环境对杭州企业投资规模的影响。智能治理改善了公共管理、融资和法治。营商环境通过增强企业信心和降低制度成本来促进投资。智能产权保护和法律公平的薄弱阻碍了智能治理对企业信心和制度成本的积极影响。这是首次结合营商环境、智慧城市和智能治理理念，分析当地智能营商环境对企业信心、制度成本和投资的影响。我们关于智能营商环境对企业投资的限制效应的结论，试图激发对营商环境和智慧城市交叉领域的进一步研究。在中国这个最大的发展中国家、具有多样化经济发展的背景下，我们获得的智能营商环境吸引投资的规律，对其他发展中国家具有重要意义。发展中国家可以通过智能治理吸引投资、促进经济发展。发展中国家应构建智能服务平台、协调公共信用监管、减少融资约束、建设法治政府、提高土地管理质量、保护知识产权。
