Under the capital support of investment companies and Internet giants, several large-scale battles for users occurred among various platforms. (1) Initial Stage (2010.09–2012.12): Since September 2010, mobile internet travel services based on LBS technology began to sprout in China, and more than 10 travel platforms were born, during which time China’s Uber-“Didi”-was established. The development of car-sharing in China has been divided into three stages since 2010. We still do not know what other regional determinants of the new venture formation in China’s car-sharing economy are. The prior studies on car-sharing have shown that urban areas’ high density is the critical characteristic of the target market for car-sharing services. There is a lack of research on whether these general regional factors are still important for the developing sharing economy, especially China’s car-sharing economy. Most of these factors have been identified in sophisticated and dedicated prior studies on traditional manufacturing and service industries. ![]() There are many key factors of new firm formation: agglomeration effects, regional knowledge bases, government policies, spillover effects, unemployment, social capital, industrial structures and entrepreneurial cultures. The prior research on regional differences in new firm formation has emphasized the importance of regional dimensions in different entrepreneurship forms. Geography creates a spatially changing regional environment and forms regional differences in entrepreneurial activities. This paper provides insights for startups entering the field of car-sharing and a theoretical basis for the subsequent research on startups in the sharing economy industry. At the same time, the regional population density, localization economy, innovation capacity and competitive environment have no significant relationships with the establishment of new car-sharing firms. The findings show that the urbanization economy, human capital and venture capital in the region have a positive impact on the establishment of new ventures. We used panel data from 449 car-sharing new ventures established in 257 cities in China from 2011 to 2019 to conduct an empirical analysis. This paper explores the regional determinants of new firm formation in the nascent car-sharing industry in China. New car-sharing ventures have been recognized as the leading sector in sustainable development for the circular economy and resource reuse. In China, the new business model centered on the sharing economy has grown rapidly in a short time, especially with regard to car-sharing, which has become one of the new governmental strategies to promote economic development in China. ![]() New ventures play an important role in promoting regional economic growth, employment and innovative development.
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