The Impact Of Listed Companies On Regional Economic Development

Under the background of economic globalization,the development of regional economic integration has become an inevitable trend.At present,China is steadily advancing the "One Belt and One Road" initiative.The construction of urban agglomerations such as the urban agglomerations in the Yangtze River Delta,the Pearl River Delta urban agglomeration,the Beijing-Tianjin-Hebei urban agglomeration and the Central Plains Metropolitan Agglomeration are also booming.Among them,the Yangtze River Delta urban agglomeration is an important crossroads between the "Belt and Road" and the Yangtze River Economic Belt.It plays an important strategic position in the overall situation of China's modernization and opening up in an all-round way.Therefore,it studies how to promote regional economic development in the urban agglomerations of the Yangtze River Delta It has important practical significance.The development of regional economy can not be separated from the micro-entities that create wealth-enterprises,especially listed companies that are typical representatives of outstanding enterprises.They can not neglect the promotion of regional economic development by means of capital markets.Therefore,based on the microscopic perspective,this paper studies the impact of listed companies in Anhui,Zhejiang,Shanghai and Shanghai on the development of regional economy in four provinces involved in Pan-Yangtze River Delta urban agglomeration and puts forward relevant policy suggestions.Firstly,this paper defines the related concepts that the listed companies affect the regional economic development,introduces the relevant theories,discusses the role of the listed companies in influencing the regional economic development from the perspectives of the factor concentration mechanism,the external effect mechanism,the market sharing mechanism and the development linkage mechanism mechanism.Secondly,the author compares the current situation of listed companies in Anhui,Jiangsu,Zhejiang and Shanghai with the Arcgis software and the economic development in Anhui,Jiangsu,Zhejiang and Shanghai.Thirdly,the data of listed companies and regional economy are collected.Using the panel regression model,it is found that the number of listed companies,total market capitalization,finance costs,operating income and circulating shares significantly promote regional economic growth.The total share capital and tax payable significantly inhibit the regionaleconomy The number of listed companies and the capitalization rate significantly promoted the upgrading of regional industrial structure.At the same time,the amount of financing of listed companies has no significant effect on economic growth and upgrading of industrial structure,while the research and development of listed companies significantly promote economic growth and upgrading of industrial structure.Using Stata software,using dynamic spatial Tobin model,it was found that the number of listed companies,financial expenses and operating income significantly promoted the optimization of regional spatial structure,while the total circulating capital and Taxes payable significantly inhibit the optimization of the spatial structure.Finally,according to the empirical results,it proposes to actively cultivate the listing of local enterprises and expand the size of the company,and optimize the employee structure and equity structure of listed companies.Low taxes and interest rates and other policy recommendations.