基于企业股权关联的城市网络研究 ——以长三角地区为例

选取全行业企业的投资数据,通过逐一计算海量企业股权联系的所有可能链接路径,提出了利用企业之间联系研究城市网络的新思路。对长三角地区进行实证研究,结果表明：有向网络中,上海、杭州与合肥是区域资本集散中心。其中,上海是整个区域的链接枢纽,对江苏的辐射影响尤为突出。无向网络中,上海与杭州的核心地位明显,但淮北、衢州等边缘性节点的网络层级也大幅提升。上海、杭州与合肥加速了整个区域的一体化进程,南京的网络地位有较大的提升空间。

Mapping Urban Network Through Inter-firm Investment Relationship: A Case Study of Yangtze River Delta

Currently, existing articles about urban network from the perspective of firm relationship mainly use frims’ spatial and organizational structure to quantify intra-firm linkages, and then to study connections between cities. However, such research method neglects inter-firm linkages, especially those linkages among different-industry firms, resulting in thelack of authenticity in establishing urban network. Investment linkages between enterprises often bring the flow of institutions, knowledge and talents, which opens a new window for the study of inter-firm linkages. Therefore, this study uses investment data of all-industry enterprises published by ‘Tian Yan Cha’ website to propose an alternative way for establishing urban network. The data of ‘Tian Yan Cha’ website are authorized by the State Administration of Industry and Commerce, and have been widely used in business investigation and economic research. Through digging out all possible investment linkage routes between each two firms from massive data, this study chooses the Yangtze River Delta as the empirical strudy area in order to discover some new characteristics of urban network in node hierarchy and link under the support of real enterprises’ investment behavior. The study results show that in directed urban network, Shanghai, Hangzhou and Hefei are regional capital distribution centers. Among these cities, Shanghai is the linkage hub of the whole region, while Hangzhou and Hefei dominate their provincial cities respectively. One interesting phenomenon is that Shanghai produces strong effects on cities of Jiangsu Province, which indirectly weakens Nanjing’s network status. Nanjing's disadvantaged status is also related to its insufficient amount of data involved in the analysis, which implies that Nanjing’s firms prefer investing outside the Yangtze River Delta. In undirected urban network, cities’ intermediary effect vary dramatically, the strength of Shanghai and Hangzhou becomes more obvious. At the same time, the network status of some peripheral cities including Huaibei and Quzhou has been significantly promoted, and the former city has an energy tycoon firm producing large amount of investment linkages and the latter city is famous for its ‘family firms’. As the intermediary hub, Shanghai stimulates the integration process of the Yangtze River Delta while Hangzhou and Hefei mainly play the role of ‘bridge’ in connecting their provincial cities and Shanghai. There are nearly none prominent intermediary nodes in Jiangsu Province, which demonstrates that there is great room for Nanjing to improve its network status. There are 3 research topics deserve further attention. The first is the investment amount is more accurate in quantifying urban linkages than investment frequency. Secondly is study on single-industry firm investment may explain why gap exists between some city’s network status and their economic status. The last is that the massive firm investment data inevitably lead to magnitude differences, how to eliminate the influence of data quantity on the basis of guaranteeing network characteristics remains to be explored.