On innovation capitalization: Empirical evidence from Guangzhou, China

doi:10.1016/j.habitatint.2021.102323

	On innovation capitalization: Empirical evidence from Guangzhou, China
	Wu, Kangmin 1,2,3; Wang, Yang 1,2,3; Zhang, Hong'ou 1,2,3; Liu, Yi 1,2,4; Zhang, Yuling 1,3
刊名	HABITAT INTERNATIONAL
	2021-03-01
卷号	109 页码:11
关键词	Innovation Capitalization Housing prices Hedonic price theory Geodetector China
ISSN号	0197-3975
DOI	10.1016/j.habitatint.2021.102323
通讯作者	Wang, Yang(wangyang@gdas.ac.cn)
英文摘要	With the innovation-oriented transformation of the global economy, innovation and the knowledge-based economy have become two of the most distinguishing features of urbanization. The relationship between innovation and urban space has attracted considerable attention in existing theoretical research. However, little is known about the capitalization of innovation. Based on the capitalization hypothesis and hedonic price theory, we develop the concept of innovation capitalization and elaborate its mechanism. Based on housing data of 1668 communities in Guangzhou, a combination of the spatial regression model and the geodetector method were applied to confirm that innovation has a capitalization effect. This research is among the first attempts to quantitatively test the capitalization effect of innovation. The spatial regression results indicate that the innovation has significant positive impact on housing prices. The geodetector results indicate that innovation has an important impact on the spatial heterogeneity of housing prices. This research has critical theoretical and empirical value. We argue that from the innovation capitalization perspective, our understanding of the relationship between innovation and urban space can be deepened and that the impact of innovation on urban space development can be quantified, which can further help us understand the important role that innovation plays in urbanization and urban space development.
资助项目	National Natural Science Foundation of China[41871150] ; GDAS Project of Science and Technology Development[2021GDASYL-20210103004] ; National Key Research and Development Program[2019YFB2103101] ; Special Construction Project of Guangdong-Hong Kong-Macao Greater Bay Area Strategic Research Institute[2020GDASYL-20200201001] ; Key Special Project for Introduced Talents Team of Southern Marine Science and Engineering Guangdong Laboratory (Guangzhou)[GML2019ZD0301]
WOS研究方向	Development Studies ; Environmental Sciences & Ecology ; Public Administration ; Urban Studies
语种	英语
出版者	PERGAMON-ELSEVIER SCIENCE LTD
WOS记录号	WOS:000624558200001
资助机构	National Natural Science Foundation of China ; GDAS Project of Science and Technology Development ; National Key Research and Development Program ; Special Construction Project of Guangdong-Hong Kong-Macao Greater Bay Area Strategic Research Institute ; Key Special Project for Introduced Talents Team of Southern Marine Science and Engineering Guangdong Laboratory (Guangzhou)
内容类型	期刊论文
源URL	[http://ir.igsnrr.ac.cn/handle/311030/162094]
专题	中国科学院地理科学与资源研究所
通讯作者	Wang, Yang
作者单位	1.Guangdong Acad Sci, Guangdong Open Lab Geospatial Informat Technol &, Key Lab Guangdong Utilizat Remote Sensing & Geog, Guangzhou Inst Geog, Guangzhou 510070, Peoples R China 2.Inst Strategy Res Guangdong, Hong Kong & Macao Greater Bay Area, Guangzhou 510070, Peoples R China 3.Southern Marine Sci & Engn Guangdong Lab, Guangzhou 511458, Peoples R China 4.Chinese Acad Sci, Inst Geog Sci & Nat Resources Res, Key Lab Reg Sustainable Dev Modeling, Beijing 100101, Peoples R China
推荐引用方式 GB/T 7714	Wu, Kangmin,Wang, Yang,Zhang, Hong'ou,et al. On innovation capitalization: Empirical evidence from Guangzhou, China[J]. HABITAT INTERNATIONAL,2021,109:11.
APA	Wu, Kangmin,Wang, Yang,Zhang, Hong'ou,Liu, Yi,&Zhang, Yuling.(2021).On innovation capitalization: Empirical evidence from Guangzhou, China.HABITAT INTERNATIONAL,109,11.
MLA	Wu, Kangmin,et al."On innovation capitalization: Empirical evidence from Guangzhou, China".HABITAT INTERNATIONAL 109(2021):11.