ФУНКЦІОНУВАННЯ БІЗНЕСУ В УМОВАХ ІНФОРМАЦІЙНОЇ АСИМЕТРІЇ

Abstract

The process of digitalization has covered all sectors of economic activity in Ukraine and the world. The economic impact of information and communication technologies on economic sectors or spheres of life (at the macro level), and specific products or services (at the micro level) is determined by added value. Digital tools and technologies make it possible to increase the level of production of innovative products, shorten the period from the development of an idea to the sale of finished products, ensure an appropriate level of profitability from the introduction of advanced technologies and create competitive advantages for the state. At the same time, digitalization is not only a tool for realizing national economic interests that can create new opportunities for economic development, but also a source of new risks and threats, including the phenomenon of information asymmetry. The research examines the phenomenon of information asymmetry and its impact on business functioning. It is proved that in the context of digitalization, information is the dominant factor of production. The essential and substantive characterization of information as a production factor is provided. It is proved that information is a direct productive force, the most important factor of production along with the traditional ones – land, labor, and capital. The relationship between the spread of digitalization processes and the emergence of information inequality, or “asymmetric information”, is substantiated. The main factors that led to the deepening of information asymmetry under martial law in Ukraine are outlined. These include the physical destruction of information infrastructure facilities, massive cyber attacks and the spread of disinformation, and rapid and unpredictable changes in the national economy. The author models the impact of information asymmetry on business functioning, which is reflected in pessimistic business expectations, which is directly related to the uncertainty of the business environment. Based on the results of official research, it is confirmed that information asymmetry is the main obstacle to the successful adaptation of economic entities to conditions of uncertainty, and its reduction is the main direction of public policy.