This study examines the spatial relationship between cultural activities, particularly art events, and the distribution of corporate headquarters within Tokyo’s 23 special wards. To this end, we employ the Wasserstein distance and Monte Carlo simulations with stratified sampling to statistically assess the spatial proximity between art events and the headquarters of large firms at different stages of their corporate life cycles. The analysis reveals that firms facing strategic uncertainty and a need for new ideas and innovation tend to locate their headquarters closer to areas with a strong cultural sense of place and frequent art events. In contrast, the firms focusing on stability and operational efficiency are more likely to locate their headquarters farther from cultural activities. These findings offer new insights into the synergies between cultural and economic activities at the neighborhood level, thereby addressing a gap in urban economic geography. Moreover, they suggest that urban planning can foster mutually beneficial environments for both corporate innovation and local cultural engagement by supporting the colocalization of art events and businesses in stages that require creativity.
Watanabe et al. (Fri,) studied this question.