文献类型：期刊文献

英文题名：What drives intercity venture capital investment? A comparative analysis between multiple linear regression and random forest

作者：Du, Delin[1];Wang, Jiaoe[1,2];Li, Jianjun[3]

机构：[1]Chinese Acad Sci, Key Lab Reg Sustainable Dev Modeling, Inst Geog Sci & Nat Resources Res, Beijing 100101, Peoples R China;[2]Univ Chinese Acad Sci, Coll Resources & Environm, Beijing 100049, Peoples R China;[3]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China

年份：2024

卷号：11

期号：1

外文期刊名：HUMANITIES & SOCIAL SCIENCES COMMUNICATIONS

收录：;WOS:【SSCI(收录号:WOS:001312147700003)，A&HCI(收录号:WOS:001312147700003)】；

基金：This work is supported by National Natural Science Foundation of China (Grant No. 42225106 and No. 42401206) and China Postdoctoral Science Foundation funded project (Grant No. 2022M723120).

语种：英文

摘要：Venture capital (VC) significantly contributes to the development of regional economies and fosters innovation. Analyzing the factors that influence VC investments holds key importance. This study employs two methods to ascertain the relative significance of different factors at the city level: the Lindeman, Merenda, and Gold (LMG) approach in multiple linear regression (MLR) and variable importance in random forest (RF) machine learning. The findings reveal that several factors, including economy, finance, innovation, location, and policy, significantly influence VC investments. Both the MLR and RF models highlight the preeminence of economic and financial variables, followed closely by the city's potential for innovation. Moreover, spatial heterogeneity exists in the importance of these variables. In the economically developed and densely populated eastern regions of China, the financial environment of cities emerges as the most crucial, whereas in the central and western regions, the economy and innovation, respectively, take precedence. This research contributes to a deeper understanding of the distribution of VC investments and offers valuable insights for the development of regional policies.