Spatial Distribution Pattern of the Headquarters of Listed Firms in China

Ling Zhang, Hui Zhang and Hao Yang
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Ling Zhang: School of Economics, Peking University, 5 Summer Palace Road, Haidian District, Beijing 100871, China
Hui Zhang: School of Economics, Peking University, 5 Summer Palace Road, Haidian District, Beijing 100871, China
Hao Yang: Beijing Academy of Social Sciences, 33 North Fourth Ring Road, Chaoyang District, Beijing 100101, China

Sustainability, 2018, vol. 10, issue 7, 1-20

Abstract: This study chose 4667 listed firms with headquarters in China as the research objects. The spatial aggregations of headquarters in sub-periods and subsectors were investigated based on prefecture-level cities using Global Moran’s I statistic, the Getis-Ord Gi* statistic, and kernel density estimation. The spatial association and frequent patterns of headquarters belonging to different sectors were analyzed using the Apriori algorithm. The results showed the following: (1) Most headquarters of listed firms agglomerate around megacities and concentrate in the coastal regions. (2) Many prefer that headquarters be located in an area within a 5 km radius, forming the pivotal local industry cluster. (3) Industrial, information technology, and consumer discretionary firms show a higher degree of agglomeration than materials and health care firms. Materials and consumer discretionary industries have a stronger spillover effect on surrounding cities compared to industrial, information technology, and health care firms. (4) Service industries show a strong spatial association with other sectors at all distance thresholds and frequent items. These results can provide a reference for future considerations of headquarters locations, industrial development, and the reshaping of urban networks.

Keywords: headquarters; listed firms; spatial distribution; Apriori algorithm (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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