SCIENTIA GEOGRAPHICA SINICA ›› 2023, Vol. 43 ›› Issue (4): 699-708.doi: 10.13249/j.cnki.sgs.2023.04.013

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Temporal and spatial evolution of the local mergers and acquisitions network of Chinese film enterprises

Xie Xuefang(), Chen Tianyu()   

  1. School of Humanities, Tongji University, Shanghai 200092, China
  • Received:2022-01-12 Revised:2022-05-14 Online:2023-04-30 Published:2023-04-20
  • Contact: Chen Tianyu;
  • Supported by:
    Ministry of Education Humanities and Social Sciences Research Planning Fund Project(20YJA860004);Shanghai Philosophy and Social Science Planning Fund Project(2019CGL100)


The mergers and acquisitions (M&A) investment network of enterprises is an important perspective to understand and examine the economic geography pattern. With the cultural turn and digital transformation of China's economic development, the mergers and acquisitions investment network of film enterprises has begun to reflect the spatial distribution process of new production factors such as capital, technology, and knowledge. However, existing research has not paid enough attention to this issue. Therefore, this paper attempts to construct a complex network that reflects the local M&A activities of Chinese film enterprises, and depicts the spatial layout, spatial connection and spatial organization characteristics of film enterprises' local M&A activities, as well as their temporal and spatial evolution process, in order to establish a dynamic viewpoint to grasp the evolution trend of China's economic geographic pattern. First, based on the merger and acquisition data of Chinese film enterprises from 2010 to 2019, the city where the film company is located is the network node, and the frequency of M&A is the edge of the network to build a local merger and acquisition network of Chinese film enterprises. Second, the location preference of film enterprises for M&A is test using the kernel density and spatial autocorrelation methods . Thirdly, the internal structure of M&A network and its spatiotemporal evolution are investigated by means of complex network and cluster analysis. Firstly, the two parties of M&A show the characteristics of synergistic agglomeration in big cities, and as time goes on, the degree of agglomeration of the two parties continues to increase, and the choice of target cities also gradually increases. Secondly, There is a positive correlation and interaction between the two parties of Chinese film enterprises' M&A in neighboring cities, but the overall level of correlation is low, and the "regional roots" of film enterprises' M&A have not yet been formed. Thirdly, the node cities in the local M&A network of Chinese film enterprises have obvious differences in levels, which are distributed in a typical "pyramid" shape. Over time, the control rights of film enterprises gradually flow from low-level to high-level node cities through the M&A network. Fourth, the local M&A network of Chinese film enterprises is constantly "encrypting" and "expanding", but the main nodes are relatively solidified, forming a ternary structure of "trunk-secondary trunk-branch". And with the passage of time, the backbone network of domestic M&A of Chinese film enterprises continues to condense, the secondary network continues to expand, and the branch network shrinks rapidly. This paper outlines the overall appearance and evolution trend of China's economic geography by examining the internal structure of the local M&A network of film enterprises and its temporal and spatial evolution. On the whole, the temporal and spatial evolution of the local M&A network of film enterprises reflects that China has not really established a set of linkage mechanisms that can effectively promote the regional transfer of industrial forms and improve the level of regional economic cooperation. In this regard, it should be improved from strengthening the spatial connection of enterprises, encouraging cross-border M&A, and optimizing the efficiency of enterprise agglomeration.

Key words: film enterprises, local mergers and acquisitions, industry mergers and acquisitions, network structure

CLC Number: 

  • K902