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The Impact of Unicorns on Urban Economic Development

In: Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023)

Author

Listed:
  • Wei Wu

    (Nanjing Audit University, Jinshen College)

Abstract

In recent years, China’s unicorn enterprises, as a representative of the new economy, are developing rapidly, and have become an important indicator to measure the urban innovation environment and economic development. This paper selects Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou and other cities as cases, based on the understanding of unicorn enterprises from, the viewpoint of empirical research, selects the relevant financial data of listed unicorn enterprises from 2017–2021 to explore the impact of the total market value of unicorn enterprises on regional economic development. It is determined that the effect of company market value on local GDP per capita has a strong positive association. This conclusion shows that the total market value of listed unicorns can indeed measure the development degree of a regional economy to some extent, and provides some reference suggestions for the subsequent development of unicorn enterprises according to the conclusion.

Suggested Citation

  • Wei Wu, 2023. "The Impact of Unicorns on Urban Economic Development," Advances in Economics, Business and Management Research, in: Gaikar Vilas & Jing Gao & Xi Chen (ed.), Proceedings of the 2023 3rd International Conference on Enterprise Management and Economic Development (ICEMED 2023), pages 67-74, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-224-8_10
    DOI: 10.2991/978-94-6463-224-8_10
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