Laying out the Industrial Chain around the Innovation Chain:Evidence from New Firm Entry around Zhongguancun Science Park
The layout of the industrial chain around the innovation chain is a vital approach for developing industries,with spatial integration being a key feature in future industrial layout.Existing studies have primarily explored the effects of place-based science,technology,and innovation(STI)policies on firms within innovation clusters rather than how innovation clusters affect firms'location or industrial layout.However,existing literature still needs to comprehensively answer this question and provides adequate academic and empirical evidence to the phenomenon of industrial layout being close to innovation clusters.This paper focuses on the spatial phenomenon of innovation clusters and takes Zhongguancun Science Park,a typical innovation cluster,to empirically investigate the above phenomenon.Using microdata,this paper constructs a spatial difference-in-differences(DID)model to study the casual effect.By utilizing the establishment of each sub-park of Zhongguancun Science Park,this paper investigates the impact of innovation clusters on the spatial layout of new enterprises within a city and its mechanism.Specifically,this paper starts by manually mapping the boundary range of each sub-park cluster in Zhongguancun Science Park using administrative business registration data and the boundaries of the innovation cluster,which helps determine the spatial distribution of new start-up enterprises within a city.We obtain the external spatial characteristics of innovation clusters by using geographic microdata,and then construct a spatial DID model to examine the impact of innovation clusters on the entry of new enterprises around them.We use the establishment time of each sub-park of Zhongguancun Science Park.This paper explores the mechanism of innovation clusters in influencing the entry of new firms from the perspectives of technological acquisition,reputation premium,and information capture.Our analysis is based on Chinese enterprise registration data from the State Administration of Industry and Commerce(SAIC),firm-to-firm level granted and transferred patents,China's tax survey data,and Baidu Map Point of Interest(POI)data.This paper examines the impact of innovation clusters on the performance and survival probability of new firms.This paper reveals that:① Innovation clusters show a clear centripetal force on start-ups,attracting more start-ups to locate within 0-1.4 kilometers of an innovation cluster,and this effect is particularly prominent in downstream sectors of the leading industries in science and technology sub-parks and sub-parks dominated by advanced manufacturing and new-generation information technology;② Proximity to the innovation cluster is beneficial for new start-ups in terms of technology acquisition,reputation premium,and information capture;③ Placing the industrial chain close to the innovation chain greatly improves business performance and increases the survivability of new firms.This paper provides not only valuable insights into the theoretical understanding of the impact of innovation clusters on general enterprise location choices,but also practical evidence for promoting the deep integration of industrial chain and innovation chain in practice.The marginal contribution of this paper is as follows.Firstly,we use granular data to examine the spatial spillover effects of innovation resources,building on seminal work on firm location.Secondly,we propose a new mechanism for how innovation clusters influence the location of new firms,which differs from Marshallian and Jacobs'externalities.Finally,we evaluate the impact of innovation clusters on the entry of neighbouring new firms using a spatial DID model.This not only identifies the effects of the reverse causality between innovation and industrial development,but also excludes the role of policy rents in the location choices of new firms,providing reliable empirical evidence for assessing the spillover effect of innovation clusters.
innovation clustersspatial layout of industrial chainnew firm entryspatial spilloverZhongguancun Science Park
万方数据
维普
