Demographics and Firm Characteristics

TABLE 5.5 Relationship between Monthly Revenue and Experience on the Platform, Demographics and Firm Characteristics

Dependent variable: Logarithm of monthly revenue Dependent variable: Monthly growth in revenue (%)

Dependent variable: Logarithm of monthly revenue per employee Dependent variable: Monthly growth in revenue per employee (%)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Formal

Experience on the platform (months) woman-owned

Years in business > median

Secondary

Senior secondary

university or more 0.785*** (0.126)

0.103*** (0.004) 0.714*** (0.138) 0.094*** (0.005) −0.369** (0.183) −0.087 (0.142) 0.525 (0.386) 0.343 (0.326) 0.137 (0.279) 0.003 (0.007)

−0.006*** (0.000) 0.011 (0.008) −0.006*** (0.000) −0.011 (0.012) 0.004 (0.007) −0.072*** (0.017) −0.049*** (0.015) −0.042*** (0.013) −1.156*** (0.124)

0.083*** (0.004) −1.144*** (0.136) 0.085*** (0.005) −0.210 (0.186) −0.151 (0.143) 0.648 (0.400) 0.413 (0.328) 0.178 (0.285) 0.003 (0.007)

−0.006*** (0.000) 0.006 (0.008)

−0.011 (0.012) 0.000 (0.008) −0.077*** (0.019) −0.052*** (0.016) −0.043*** (0.014)

Age

merchant −0.017** (0.008) 0.359** (0.167) −0.001 (0.000) 0.005 (0.009) −0.019** (0.008) 0.452*** (0.167) −0.001* (0.000) 0.003 (0.009)

Producer −0.054 (0.180) 0.012 (0.010) 0.052 (0.180)

0.011 (0.010) Observations 38,576 39,687 29,779 30,011 30,879 23,405 38,576 38,576 29,779 30,011 30,011 23,405 Number of businesses 2,261 2,316 1,709 1,764 1,813 1,342 2,261 2,261 1,709 1,764 1,764 1,342

Notes: Each column corresponds to a separate OlS regression. The dependent variable in columns (1), (2), and (3) is the logarithm of monthly revenue, in columns (4), (5), and (6), the first difference in the logarithm of monthly revenue, in columns (7), (8), and (9), the logarithm of monthly revenue per employee, and in columns (10), (11), and (12), the first difference in the logarithm of monthly revenue per employee. All regressions include fixed effects by time. Clustered standard errors by firm in parentheses. * p < 0.1; ** p < 0.05; *** p < 0.01.