Development of new approaches to information transparency diagnostics in the regional market

Abstract

The purpose of the research is to develop a methodological approach to the information transparency diagnostics in regional markets based on the analysis of the transaction costs dynamics.
 Methodology. To achieve this goal, methods of logical generalization, dialectical, system-structural methods, methods of analysis, synthesis and grouping, regression analysis were used.
 Results. It is proved that the level and structure of transaction costs are influenced by the peculiarities of the functioning of a particular market, so the approbation of the approach took place in a regional real estate market. The hypothesis that there is a linear relationship between the profits of market participants outside the region and foreign investment in this market has been put forward and successfully proved. Attention is focused on the presence of a significant number of investment risks associated with information entropy. It is justified that this encourages market agents to constantly conduct a thorough search, structuring and analysis of any information, which ultimately leads to a significant increase in transaction costs. Based on this, it is suggested that the reduction of transaction costs will increase foreign investment in market development. To confirm it, a regression model was developed, which allowed to establish that the reduction of the average transaction costs of one transaction in the current year will lead to an increase in foreign investment by 1 operation next year. At the same time, integration processes play a significant role, which is expressed in the increase of profits of foreign actors in the regional market and, as a consequence, in the growth of foreign investment in the region.
 Practical meaning. The proposed approach allows to assess in numerical terms the information transparency of a particular regional market. It contributes to the expansion of methodological tools of territorial marketing. In practical terms, it will facilitate the adoption and implementation of adequate management decisions aimed at improving the investment climate and, consequently, the formation of a positive image of the region.
 Prospects for further research. As a promising area of ​​further research, it is proposed to develop a methodology for forming an index of information transparency, based on the analysis of the dynamics of transaction costs and their impact on foreign investment.