Electron and ion beam dynamics of the PF-1000 facility were investigated for the first time at its upper energy limit (≈1 MJ) in relation to neutron emission, the pinch's plasma ('target') characteristics and some other parameters with the help of a number of diagnostics with ns temporal resolution. Special attention was paid to the temporal and the spatial cross correlations of different phenomena. Results of these experiments are in favour of a neutron emission model based on ion beam–plasma interaction with three important features: (1) the plasma target is hot and confined during a few 'inertial confinement times'; (2) the ions of the main part of the beam are magnetized and entrapped around the pinch plasma target for a period longer than the characteristic time of the plasma inductive storage system and (3) ion–ion collisions (both fusion collisions, due to head-on impacts and Coulomb collisions) are responsible for neutron emission. Analysis has shown that one of the ways for achieving a future improvement in the neutron yield of the PF-1000 facility may by changing the geometry of the device. It may ensure an increase in both the discharge current and the initial working gas pressure, eventually resulting in the neutron yield boost.