京津冀城市群创业风险投资的时空分布特征及影响机制

doi:10.18306/dlkxjz.2017.01.007

摘要/Abstract

摘要：

创业风险投资是京津冀城市群一体化协同创新进程中的重要驱动力。本文利用社会网络分析方法分析了京津冀城市群创业风险投资的时空分布特征,在此基础上利用引力模型和计量分析模型揭示京津冀城市群创业风险投资时空分布的影响机制。主要结论为：京津冀城市群的创业风险投资网络在总额方面具有一定的周期波动性,其时空分布的不均衡性缓慢降低,创业风险投资的三中心(北京、天津和唐山)对周边城市具有一定的带动作用;创业风险投资在城市间的流动呈现出一定的网络性,但是发育缓慢,具有很强的向心性;创业风险投资对创业项目不同阶段的投资从偏重创业后期逐步趋向各阶段均衡发展;信息基础设施发展水平和经济发展水平与创业风险投资之间具有较强的正相关作用;金融环境、服务业发展水平相对滞后,对创新创业成果的转化和资金吸引能力较弱。

关键词: 创业风险投资, 时空分布特征, 影响机制, 京津冀城市群

Abstract:

Venture capital is an effective driving force in the collaborative innovation of Beijing-Tianjin-Hebei urban agglomeration. Based on the Zero2 IPO database, this study analyzed the spatiotemporal distribution of urban venture capital using social network theory and examined the mechanism of this distribution using a gravity model and panel data regression. The results show that, first, the gross venture capital of this urban agglomeration showed a four-year-period fluctuation. Second, the distribution is becoming less uneven due to the spin-off effects of Beijing, Tianjin, and Tangshan, where venture capital has concentrated in the past years. Third, venture capital flows between different cities are gradually forming a network with strong connection between core and peripheral cities, as well as weak connection between peripheral cities. The distribution of venture capital has become more even between different stages of entrepreneurship. With regard to the influencing factors of this distribution, information infrastructure and economic development have played significant positive roles, while innovation activities are not keeping in pace with venture capital flows partially due to the underdevelopment of financial instruments and service sectors.

Key words: venture capital, spatiotemporal distribution, mechanism, Beijing-Tianjin-Hebei Urban Agglomeration

方嘉雯, 刘海猛. 京津冀城市群创业风险投资的时空分布特征及影响机制[J]. 地理科学进展, 2017, 36(1): 68-77.

Jiawen FANG, Haimeng LIU. How and why venture capital flows in the Beijing-Tianjin-HebeiUrban Agglomeration[J]. PROGRESS IN GEOGRAPHY, 2017, 36(1): 68-77.

图/表 9

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表1

图2

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图6

表2

京津冀城市群创业风险投资影响因素对应指标及数据说明"

变量类型	变量名称	数据处理方法	对应数据指标	数据来源
因变量VC	投资强度VC	城市间投资金额VC	城市间的投资金额VC	清科集团数据库、中国城市统计年鉴
自变量G	经济力GE	$G E ij = E i E j e - d ij$	国民生产总值E	中国城市统计年鉴
	服务力GS	$G S ij = S i S j e - d ij$	第三产业比重S	中国城市统计年鉴
	通讯力GT	$G T ij = T i T j e - d ij$	电话网络用户数量T	中国城市统计年鉴
	创新力GC	$G C ij = C i C j e - d ij$	专利数量C(包括发明专利、外观设计和实用新型)	中国专利数据库
	金融力GF	$G F ij = F i F j e - d ij$	年末金融机构存贷款总额F	中国城市统计年鉴

表2

表3

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城市	2005年					2010年					2015年
城市	创业风险资本投入和投出总额/百万元		占全国比重/%		占京津冀城市群比重/%	京津冀城市群中的位序	创业风险资本投入和投出总额/百万元	占全国比重/%	占京津冀城市群比重/%	京津冀城市群中的位序	创业风险资本投入和投出总额/百万元	占全国比重/%	占京津冀城市群比重/%	京津冀城市群中的位序
北京	142349.700	36.1	97.1	1		86339.340	19.8	92.1	1		63527.820	11.4	94.3	1
保定	0.000	0.0	0.0	10		40.000	0.0	0.0	9		214.7524	0.0	0.3	5
天津	1849.214	0.5	1.3	2		5079.017	1.2	5.4	2		2684.681	0.5	4.0	2
沧州	300.000	0.1	0.2	5		300.000	0.1	0.3	5		297.000	0.1	0.4	4
承德	250.000	0.1	0.2	6		250.000	0.1	0.3	6		16.000	0.0	0.0	9
邯郸	0.000	0.0	0.0	10		0.000	0.0	0.0	13		4.000	0.0	0.0	12
衡水	48.000	0.0	0.0	8		48.000	0.0	0.1	8		205.000	0.0	0.3	6
廊坊	0.000	0.0	0.0	10		15.000	0.0	0.0	11		14.500	0.0	0.0	10
唐山	1250.590	0.3	0.9	3		1232.880	0.3	1.3	3		30.395	0.0	0.0	7
邢台	20.000	0.0	0.0	9		20.000	0.0	0.0	10		18.9125	0.0	0.0	8
秦皇岛	126.670	0.0	0.1	7		126.670	0.0	0.1	7		6.000	0.0	0.0	11
石家庄	349.240	0.1	0.2	4		330.000	0.1	0.4	4		330.205	0.1	0.5	3
张家口	0.000	0.0	0.0	10		10.000	0.0	0.0	12		0.000	0.0	0.0	13

影响要素	β(各类城市引力的回归系数)
GE(经济力)	0.0399^*
GS(服务力)	-0.296^*
GF(金融力)	-0.0505^*
GT(通讯力)	0.0385^***
GC(创新力)	-0.144^***
cons(常数)	0.00136
R²(总体)	0.3511