The Salience of Entrepreneurship: Evidence from Online Business

The authors thank Sumit Agarwal, Zhi Da, Yiping Huang, Wenlan Qian, Liyan Yang, Bernard Yeung, Jianfeng Yu, Xiaoyun Yu, and Xiaobo Zhang as well as seminar participants at SFS Cavalcade Asia-Pacific 2022, Nanyang Technological University, Peking University and the University of Houston for helpful comments. The authors highlight that the data and analytics reported in this paper may contain errors and are not suited for the purpose of company valuation or to deduce conclusions about the business success and/or commercial strategy of the platform analyzed. The analysis was undertaken in strict observance of Chinese privacy law. The views expressed in this publication are those of the authors and do not necessarily reflect the views of the Bank for International Settlements or its member central banks.