Spatial Patterns of Headquarters

Leon Shilton and Craig Stanley

Journal of Real Estate Research, 1999, vol. 17, issue 3, 341-364

Abstract: This study of the spatial concentration of the headquarters of exchange-listed companies suggests that the relevancy of the “efficiency parameter” of agglomeration theory still holds in explaining the location of headquarters, especially when the production function is reinterpreted as a productivity function. The sample of 5189 headquarters exceeds previous studies of Fortune 500 firms. Across industries, a high degree of clustering is found: 40% of the nation’s headquarters were found in twenty counties. Cluster analysis suggests grouping patterns for headquarters; discriminant analysis confirms the uniqueness of these spatial clustering patterns across 229 urban counties. For certain industries, the clustering occurs within small areas. The headquarters of these spatially-correlated groups of firms—money and media, gas and electric, business services, and machining technology—were mapped at the county and zipcode level for counties within major metropolitan areas. The spatial density patterns take on traditional urban forms: core, ring and wedge.

Date: 1999
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DOI: 10.1080/10835547.1999.12090976

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