Creative Destruction? Impact of E-Commerce on the Retail Sector

The authors thank Ashwini Agrawal, Shashwat Alok (discussant), Emek Basker (discussant), Robert Dam (discussant), Rohan Ganduri, Xavier Giroud, Isaac Hacamo (discussant), Inessa Liskovich (discussant), David Matsa, Paige Ouimet, Nikhil Paradkar, Daniel Paravisini, Hoonsuk Park (discussant), Huan Yang (discussant), and Liu Yang (discussant) as well as seminar participants at Georgia Tech, University of Toronto, Wilfrid Laurier University, 2018 Asian Bureau of Finance and Economic Research Annual Conference, 2018 Conference on Financial Economics and Accounting, 2018 China International Conference in Finance, 2018 European Finance Association Annual Meeting, 2018 ISB Summer Research Conference, 2018 Labor and Finance Group Meeting, 2018 Midwestern Finance Association Annual Meeting, 2018 NBER Summer Institute, 2018 Northern Finance Association Annual Conference, and 2019 Technology, Governance and Regulation Conference for helpful comments. The authors gratefully acknowledge the Best Paper Award on corporate finance/responsible finance from the 2018 Northern Finance Association Annual Conference. The views expressed in the paper are the authors’ own and do not represent the views of the credit bureau and other data providers.