Launching with a parachute: The gig economy and new business formation

• 成果类型: Article
• 署名作者: Barrios, John M.; Hochberg, Yael, V; Yi, Hanyi
• 署名单位: Washington University (WUSTL); Rice University; Boston College; National Bureau of Economic Research
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/j.jfineco.2021.12.011
• 发表日期: 2022
• 页码: 22-43
• 关键词: Gig economy; entrepreneurship; New business formation; Rideshare; Entrepreneurial risk

摘要

We utilize the staggered arrival of Uber and Lyft-large sources of on-demand, platform enabled gig opportunities-in U.S. cities to examine the effect of the arrival of flexible gig work opportunities on new business formation. The introduction of gig opportunities is associated with an increase of-5% in the number of new business registrations in the local area, and a correspondingly-sized increase in small business lending to newly registered businesses. Internet searches for entrepreneurship-related keywords increase-7%. These effects are strongest in locations where proxies for ex ante economic uncertainty regarding the viability of new businesses are larger. Our findings suggest that the introduction of the gig economy creates fallback opportunities for would-be entrepreneurs that reduce risk and encourage new business formation. (c) 2022 Elsevier B.V. All rights reserved.