硅谷
同侪效应
投资(军事)
业务
产品(数学)
产业组织
微观经济学
经济地理学
经济
集聚经济
财务
创业
政治
社会心理学
数学
政治学
法学
心理学
几何学
作者
William Grieser,James P. LeSage,Morad Zekhnini
出处
期刊:Management Science
[Institute for Operations Research and the Management Sciences]
日期:2022-08-01
卷期号:68 (8): 6163-6183
被引量:20
标识
DOI:10.1287/mnsc.2021.4133
摘要
Using a network approach that circumvents well-known challenges in estimating peer effects, we show that interactions with a firm’s geographic neighbors play a significant causal role in corporate investment behavior and a modest role in financial policies and firm performance. Moreover, these geography network effects are almost entirely driven by propagation effects through product market and supply chain networks. We corroborate our findings in a quasi-experimental framework that allows for spillovers in treatment effects. Our findings help rationalize industrial clusters (e.g., Silicon Valley), as they illustrate that agglomeration economies are substantial and operate predominantly within industry boundaries. This paper was accepted by David Simchi-Levi, finance.
科研通智能强力驱动
Strongly Powered by AbleSci AI