中国区域投资网络化发展研究  

Study on Network Development of China Regional Investment

作　　者：杨松令[1] 常晓红[1] 刘亭立[1] 

机构地区：[1]北京工业大学经济与管理学院

出　　处：《经济体制改革》2015年第3期56-61,共6页Reform of Economic System

基　　金：国家社会科学基金重点项目"生态位理论范式下的股东关系及其经济后果"(13AGL003);国家社会科学基金青年项目"上市公司大股东关系;董事会履职与盈余质量研究"(11CGL026);国有资产管理协同创新中心课题"国有资本运行效果评价研究"(GZ20130501)

摘　　要：本文以沪深300指数企业2007-2013年数据为样本，将企业按其所在省份进行划分，通过论证区域投资网络形成的动因，提出区域投资网络表达的内容，并实证研究了我国区域投资网络的结构及其演化过程。研究发现，我国区域投资网络的空间结构差异明显，表现出一定的集聚性，整体结构呈现“小世界网络”特点；网络的度累计概率分布表现为置信度较高的指数分布；由中间中心度比较可知，我国省份间经济联系正逐步趋于均衡，但网络中存在明显的分层。本文的研究发现具有一定的启示：从网络的视角对区域投资进行研究，丰富了交叉持股、区域投资和复杂网络的研究成果；区域投资网络的形成是在政府、市场、区域和企业的推动下，寻求聚集经济的结果；该研究成果可为国家经济发展和区域规划提供参考依据。This paper collected the data of listed companies and its largest shareholders in Shanghai Stock Exchange and Shenzhen Stock Exchange 300 Index from 2007 to 2013. The listed companies are divided by their locations at provincial level. In this paper the regional investment network is identified by the rationale and specification content, and analyzed the structure feature of China＇s regional investment network. The results of our study indicate that the spatial structure feature differences of Chinese regional investment network are significant and have a strong concentration, the overall structure appear ＂ small world network＂ characteristics. The cumulative probability distribution of degree has exponential expression of high confidence. By the betweenness centrality comparison, spatial economic contacts between provinces tend to be balanced gradually, but there is the obvious structure lamination in network. This paper studies regional investment basis on network view could enrich the research a- bout cross-shareholdings, regional investment and complex networks. The regional investment network is a result of agglomeration economy and driven by government, market, regional and company. And this study could provide valuable reference for economic development and regional planning of our country.

关 键 词：小世界网络 上市公司 交叉持股 区域投资 

分 类 号：F830[经济管理—金融学]