Network capital and urban development: an inter-urban capital flow network analysis
利用并购数据构建中国城市间资本流动网络，发现网络资本分布不均，且对外和门户网络资本促进城市经济增长，其效果受本地人力资本和知识存量调节。
This study investigates the role of network capital in urban development by utilizing mergers and acquisitions as a flow metric to construct China's inter-urban capital flow network. First, an uneven geography of network capital is revealed, indicating regional disparity. Second, we identify a positive impact of outward- and gateway-network capital on urban economic growth. Additionally, the impact of the emergent network capital is moderated by local human capital and knowledge stock, indicating a networked agglomeration economy. The findings support a coordinative and place-based policy for fostering urban and regional development.