THE STUDY OF BUSINESS MODEL INNOVATION AND INFORMATION DISCLOSURE IMPROVEMENT

Abstract

Despite improvements in the quality of information disclosure in China, there remains room for further enhancement. This study focuses on companies listed on the Science and Technology Innovation Board (STAR Market), with a specific emphasis on corporate business model innovation and information disclosure mechanisms. The aim is to propose recommendations for improvement to facilitate the long-term development of STAR Market-listed companies. Through these suggestions, the intention is to elevate information disclosure standards, thereby fostering transparency, investor confidence, and market efficiency.  This study holds significant importance as it addresses a critical aspect of China's financial market development. By focusing on the STAR Market, a platform for innovative enterprises, the research aims to support the government's broader agenda of promoting technological innovation and nurturing a dynamic capital market. Improving information disclosure practices can attract more domestic and international investors, thereby promoting capital formation and supporting the growth of innovative enterprises. Additionally, enhancing transparency can facilitate better corporate governance practices and reduce market information asymmetry. Despite its significance, this study has certain limitations. Firstly, its findings and recommendations may not be universally applicable to all STAR Market-listed companies due to the unique characteristics and challenges of each company. Secondly, the effectiveness of the proposed recommendations may depend on various external factors, including regulatory changes, market conditions, and the willingness of companies to adopt these recommendations.