• Journal of Geographical Sciences
  • Vol. 30, Issue 11, 1849 (2020)
Ze HE1、2、3、4, Zhaohui CHONG5, Yu YANG1、2、3、*, Yannan ZHOU1、2、3, and Yi LIU1、2、3
Author Affiliations
  • 1Key Laboratory of Regional Sustainable Development Modeling/Institute of Geographic Sciences and Natural Resources Research, CAS, Beijing 100101, China
  • 2College of Resources and Environment, University of Chinese Academy of Sciences, Beijing 100049, China
  • 3Institute of Strategy Research of Guangdong-Hong Kong-Macao Greater Bay Area, Guangzhou 510070, China
  • 4Department of Human Geography and Spatial Planning, Utrecht University, Utrecht 3584CB, Netherlands
  • 5Shantou University Business School, Shantou 515063, Guangdong, China
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    DOI: 10.1007/s11442-020-1815-7 Cite this Article
    Ze HE, Zhaohui CHONG, Yu YANG, Yannan ZHOU, Yi LIU. Evolutionary investment network and the emerging energy power in Central Asia: From the perspective of cross-border mergers and acquisitions[J]. Journal of Geographical Sciences, 2020, 30(11): 1849 Copy Citation Text show less
    Theory framework of international investment and shift of social power
    Fig. 1. Theory framework of international investment and shift of social power
    The location map of five Central Asian countries
    Fig. 2. The location map of five Central Asian countries
    Changes in the numbers of countries/regions and M&A relations in Central Asia
    Fig. 3. Changes in the numbers of countries/regions and M&A relations in Central Asia
    M&A network in the energy sector in Central Asia
    Fig. 4. M&A network in the energy sector in Central Asia
    Stability change in energy M&A network in Central Asia
    Fig. 5. Stability change in energy M&A network in Central Asia
    Correlation analysis of degree-degree in energy M&A network in Central Asia
    Fig. 6. Correlation analysis of degree-degree in energy M&A network in Central Asia
    Evolution of blocs’ structure of energy M&A network in Central Asia (for full name, refer to Appendix 1, the same for Figure 8 and Table 2)
    Fig. 7. Evolution of blocs’ structure of energy M&A network in Central Asia (for full name, refer to Appendix 1, the same for Figure 8 and Table 2)
    M&A network relations in the energy sector in Central Asia (2002-2016)
    Fig. 8. M&A network relations in the energy sector in Central Asia (2002-2016)
    Stage (Time)Network densityAverage path lengthAverage clustering coefficientAverage degree
    Pre-Recession (2002-2007)0.1241.8200.1503.467
    Peak-Recession (2008-2011)0.0651.7900.0622.723
    Post-Recession (2012-2016)0.0661.7920.0482.500
    Table 1.

    Changes of indicators of energy M&A network in Central Asia

    RankPost-Recession (2002-2007)Peak-Recession (2008-2011)Past-Recession (2012-2016)
    Country/regionValueCountry/regionValueCountry/regionValue
    1KAZ9KAZ8CHN7
    2RUS7PIS8KAZ5
    3CHN7POL8RUS5
    4PIS7CHN5PIS4
    5USA6USA4MYS4
    6CAN4VGB4HKG3
    7GBR3GBR4FRA3
    8NLD2RUS3GBR3
    9POL1CHE2IRQ3
    10KOR1KOR2USA2
    Table 2.

    Degree centrality of the top 10 countries (regions) in M&A network in Central Asia

    Ze HE, Zhaohui CHONG, Yu YANG, Yannan ZHOU, Yi LIU. Evolutionary investment network and the emerging energy power in Central Asia: From the perspective of cross-border mergers and acquisitions[J]. Journal of Geographical Sciences, 2020, 30(11): 1849
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