Sharing Economy, Platforms, and Crowds
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Paper Number
2416
Paper Type
Completed
Description
Despite the potential of bike-sharing services to influence the local economy, the impact of these services on local businesses has been overlooked. Hence, this research aims to examine how a bike-sharing program influences the success of local businesses. We analyzed sales data of 2,928 local restaurants recorded from February to August 2019, along with bike rentals made near the restaurants. Our findings show that the number of bike rentals around a restaurant is positively associated with its sales. Further, the impact of bike rentals intensifies when there are more subway passengers around the restaurants but weakens with more bus passengers. Moreover, non-franchise and less-popular restaurants benefit more from bike-sharing programs. Our findings offer significant contributions to the existing literature by theorizing the value of sharing economy in the local economy. Practically, our results provide strategic implications for policymakers, bike-sharing service providers, and local businesses to effectively use sharing economy programs.
Recommended Citation
Song, Mingi; Lee, Gunwoong; and Kim, Keongtae, "The Impact of Bike-Sharing Services on Local Business" (2023). ICIS 2023 Proceedings. 18.
https://aisel.aisnet.org/icis2023/sharing_econ/sharing_econ/18
The Impact of Bike-Sharing Services on Local Business
Despite the potential of bike-sharing services to influence the local economy, the impact of these services on local businesses has been overlooked. Hence, this research aims to examine how a bike-sharing program influences the success of local businesses. We analyzed sales data of 2,928 local restaurants recorded from February to August 2019, along with bike rentals made near the restaurants. Our findings show that the number of bike rentals around a restaurant is positively associated with its sales. Further, the impact of bike rentals intensifies when there are more subway passengers around the restaurants but weakens with more bus passengers. Moreover, non-franchise and less-popular restaurants benefit more from bike-sharing programs. Our findings offer significant contributions to the existing literature by theorizing the value of sharing economy in the local economy. Practically, our results provide strategic implications for policymakers, bike-sharing service providers, and local businesses to effectively use sharing economy programs.
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