earticle

영어

Prior literature has empirically shown that bike sharing programs are effective in solving the last-mile problem by enhancing the connectivity within a city. Despite the importance of the problem for local businesses, however, the spillover effect of bike sharing services on local economy has not been studied yet. In line with this, this research aims to investigate how a bike sharing program influences the success of local dining businesses. We analyze the data on 4,789 restaurants and their credit card sales recorded from February to August in 2019 along with bike rentals occurred near the restaurants. Our results show that the number of bike rentals around a restaurant has a positive impact on its sales. We further find stronger positive impacts (of bike rentals) on non-franchise restaurants. We believe that the main research findings bear significant contributions to extant literature in theorizing the value of sharing economy programs in local economy and provide managerial implications for the strategic use of the programs by policymakers and local businesses.