Study On Influencing Mechanism Of Information Asymmetry Of Construction Project Bidders

The bidding process is the key link in the competition of construction enterprises.Whether to make a bid or not and how to guarantee the winning bid are related to the survival and development of construction enterprises.Information is the basis of decision-making.Construction enterprises need to collect and master relevant information in order to make scientific and effective decisions on these issues.With the continuous development of China’s economy,the number of construction enterprises is increasing year by year,and construction enterprises are facing fierce industry competition.The Precision of Bidding Decision-making is the prerequisite for enterprises to keep advantage in competition.However,most construction enterprises still lack a scientific and effective mechanism for obtaining and managing bidding decision-making information at present,which makes information asymmetry prevalent in the bidding process and affects the effectiveness of bidding decision-making.Therefore,it is necessary to discuss the mechanism of information asymmetry of bidders in bidding activities.Firstly,based on theoretical research,this paper puts forward the framework and hypothesis of bidder’s information factors influencing mechanism,and constructs a multi-agent information asymmetry measurement model to measure the information position of enterprises in the bidding market.Then through literature research and expert interviews,the information needed for bidding decision-making is extracted and sorted out,and the information indicators for bidding decision-making are constructed.Based on the information indicators for bidding decision-making,questionnaires are designed to investigate the information acquisition and information awareness of bidders.Finally,the gray relational sequence analysis method is used to verify the correlation degree of the influencing factors to the bidding rate,and the hierarchical regression method is used to test the correlation hypothesis in the influencing mechanism,which verifies the relationship between the bidder’s information acquisition ability,the bidder’s information asymmetry and the bidder’s winning rate,and the moderating role of the bidder’s information cognition in the relationship.The information asymmetry model proposed in this study is helpful for construction enterprises to enhance their understanding of the phenomenon of inadequate information acquisition,strengthen the information acquisition ability of bidding decision-making,and play an important role in improving their own information ability and bidding ability.At the same time,it will help construction enterprises to standardize and modernize their bidding work,improve the efficiency of bidding market operation,avoid unfair competition,and provide new ideas for the optimization of bidding process.