上市公司(总部)地理位置的分歧——兼论企业位置标准与区位理论发展创新

The Divergence of Geographical Location of Listed Companies(Headquarters):On the Standard of Enterprise Location and the Development of Location Theory

作为判断上市公司(总部)地理位置的“办公地址”与“注册地址”并非总是重合,可能会造成许多研究的数据和结论出错。文章基于多学科的文献阐述企业位置分歧及对实证研究的影响,验证办公地址与注册地址表征A股上市公司(总部)位置的能力,并延伸讨论不同情况下企业位置的标准及对区位理论的影响。结果表明:(1)办公地址与注册地址的分离必然导致部分文献所界定的上市公司(总部)位置及其所属地区与现实不符,并造成企业指标、地区指标统计和企业距离等误差,使得研究结论可信度存疑。(2)在117家办公地址与注册地址跨省份分离的A股上市公司中,高达85.48%的公司总部与办公地址一致,因此上市公司相关研究应以办公地址作为公司(总部)位置,而采用注册地址的已有文献要重新审视。(3)在企业经营场所与注册地址分离现象的背景下,经济地理学中的企业位置应是承担经济职能并占据一定地理空间的经营场所,注册地址只宜在少数非经济类的研究和数据统计中适用。加强对企业注册地址及其与经营场所分离现象的关注,将在区位主体、区位现象、区位因子、区位影响等方面有益于区位理论的发展创新。

The "office address" and "registration address" of the listed company,which are the only two standards for judging the geographical location of the headquarters,are not spatially identical.This phenomenon may lead to inconsistencies between the location or regional attribution of listed companies(headquarters) defined in numerous literature and the reality,thereby questioning the credibility of research data and conclusions.Based on multidisciplinary literature,this article expounds the divergence of enterprise location and its impact on empirical research,verifies the ability of office address and registration address to represent the location of A-share listed companies(headquarters),and discusses the criteria of enterprise location under different circumstances and its impact on location theory.The results show that:1) The separation of the office address and the registration address will inevitably lead to the discrepancy between the location and the region of the listed company(headquarters) defined in some literatures and the reality,and cause errors in enterprise indicators,regional indicator statistics and enterprise distance,which makes the credibility of the research conclusion doubtful.2) Among the 117 A-share listed companies with cross-province separation of office address and registration address,up to 85.48% of the company headquarters and office address are the same,the office address is much better than the registration address in representing the location of the company(headquarters),so the relevant research of listed companies should take the office address as the location of the company(headquarters),and the existing literature using registration address should be re-examined.3) In fact,the separation between business premises and registration address is quite common.The location of the company(headquarters) in economic geography is be a business premises that undertakes economic functions and occupies a certain geographical space,and the registration address should only be applied in a few non-economic research and data statistics.It should pay more attention to the separation of registration address and business premises,which will be beneficial to the development and innovation of location theory in the aspects of location subject,location phenomenon,location factor and location influence.