Spatio-temporal Research On The Survival Of Internet Finance Companies

The internet has greatly changed the development model of traditional industries,and "internet plus" has become an important path for the innovation of enterprises.As the "internet plus" innovation of the traditional financial industry,the boom of the internet financial in China in recent years has caught the attention from the whole society.These companies have made changes for traditional financial activities,while they have also brought new problems.The high risk those companies facing not only have affected the development of the industry,but also have done harm to the safety of the financial industry as well as social and economic development in some regions.In fact,the spatial agglomeration of these companies is also related to their needs for low operation risk.Different spatial-temporal factors of different cities can have different effects on the survival of internet finance companies,as well as making difference to various evolution paths of internet finance clusters.However,in the current geography research,less research pay attention to this field.While in other fields such as economics,the importance of urban spatio-temporal factors is ignored.This paper chooses P2 P lending as the main research object to do a survey about the survival of internet finance,because credit is a representative business of finance,and the problem of high risk of P2 P lending is particularly more typical and prominent than other industries in internet finance.This paper helps us to understand the influence of spatio-temporal factors during the development of the internet finance industry,and provides a reference for the sustainable development of related industries and government policy planning.In terms of literature review,this paper firstly does a survey about relevant theories of evolutionary economic geography,focusing on the topic of agglomeration economies,the evolution of clusters and the main point of complex theories.Afterwards,current research of the geography of internet and finance were summarized in order to understand the research context of existing literature.Finally,it reviews those literature and puts forward the value of this study.In the main part of the paper,it analyzes the development of the internet financial industry and the spatial survival pattern of the P2 P lending firstly.Then,from the perspective of agglomeration economies,a quantitative analysis is applied to the influence of various spatio-temporal factors affecting the survival of the P2 P lending platforms.Finally,this paper explores the evolutionary mechanisms that affect the survival of P2 P lending clusters in Hangzhou.The conclusions are as follows:(1)Internet finance is a business based on internet,but,to a certain extent,the spatio-temporal factors still have an important influence on the survival of those companies and clusters.(2)There is a trend of spatial agglomeration in internet finance platforms.Shenzhen,Shanghai and Beijing and their surrounding areas are hotspots of platforms' entry and exit and the lifespans of P2 P platforms differ in different cities.(3)The survival of P2 P lending companies is significantly affected by spatio-temporal factors.So,for the companies,entering at right time in right space is related to their survival prospects.(4)The P2 P lending industrial cluster in Hangzhou is a complex adaptive system.Its survival and growth are influenced by the constant interaction of the city's unique enterprises,government and industry associations,of which the government's influence is more obvious and time-varing.