Table 7: Business Outcomes

||||Business|Performa|nce|||Cli|ent Co|mpositi|on||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Business<br>Survival|Total<br>Clients|Revenue<br>Last<br>Week|Revenue<br>Last<br>Month|Proft<br>Last<br>month|Performance<br>Index<br>(1)-(5)|Sells to<br>Strangers|Online<br>Clients|Store<br>credit<br>value|Store<br>credit<br>clients|Store<br>credit<br>Percent|Ofers<br>delivery|
||(1)|(2)|(3)|(4)|(5)|(6)|(7)|(8)|(9)|(10)|(11)|(12)|
|_β_1: Treatment (_×_ Low Mobility)|0.12<sup>_∗∗∗_</sup>|2.69<sup>_∗∗_</sup>|22.96<sup>_∗∗∗_</sup>|56.70<sup>_∗∗_</sup>|24.00<sup>_∗∗_</sup>|0.24<sup>_∗∗∗_</sup>|0.14<sup>_∗∗∗_</sup>|0.82<sup>_∗∗∗_</sup>|0.77|-0.55|-3.45|0.10<sup>_∗∗_</sup>|
||(0.04)|(1.09)|(7.86)|(22.88)|(10.98)|(0.07)|(0.04)|(0.29)|(6.21)|(0.47)|(2.38)|(0.04)|
|_β_2: Treatment _×_ High Mobility|-0.10<sup>_∗∗_</sup>|-2.05|-23.38<sup>_∗∗_</sup>|-57.78<sup>_∗_</sup>|-29.66<sup>_∗_</sup>|-0.22<sup>_∗∗_</sup>|-0.12<sup>_∗∗_</sup>|-0.11|-4.10|-0.04|2.03|-0.10<sup>_∗_</sup>|
||(0.05)|(1.60)|(11.66)|(33.71)|(16.68)|(0.10)|(0.06)|(0.47)|(8.70)|(0.67)|(3.30)|(0.06)|
|High Mobility|0.09<sup>_∗∗_</sup>|1.02|20.80<sup>_∗∗_</sup>|48.97<sup>_∗∗_</sup>|24.76<sup>_∗∗_</sup>|0.20<sup>_∗∗∗_</sup>|0.08<sup>_∗_</sup>|0.34|0.20|0.13|0.26|0.08<sup>_∗∗_</sup>|
||(0.04)|(1.09)|(8.17)|(23.37)|(11.83)|(0.07)|(0.04)|(0.30)|(6.15)|(0.51)|(2.40)|(0.04)|
|_β_1+_β_2 (High Mobility Efect)|0.02|0.64|-0.43|-1.08|-5.66|0.02|0.02|0.71<sup>_∗_</sup>|-3.33|-0.58|-1.42|0.01|
|_β_1+_β_2 = 0 (_p-value_)|0.63|0.59|0.96|0.97|0.65|0.78|0.65|0.05|0.59|0.23|0.54|0.89|
|RI p-values _β_1|0|.03|0|.02|.05|0|0|0|.94|.2|.16|.01|
|RI p-values _β_2|.05|.23|.06|.12|.08|.02|.05|.82|.62|.96|.54|.09|
|Low Mobility Control Mean|.69|7.23|43.41|164.33|72.51|-.24|.24|1|36.05|3.43|21.03|.27|
|High Mobility Control Mean|.8|10.05|76.75|262.52|124.2|.11|.37|1.75|39.56|3.77|20.28|.34|
|Obs|983|985|961|952|947|985|914|985|960|913|957|915|

_Notes_ : This table estimates specification (2) in the paper. Outcomes (2) to (12) are coded as zero for closed businesses; table A.8 reports on the outcomes conditional on business survival. High Mobility refers to a binary variable for above median mobility index, which averages the z-scores from mobility variables (a)-(c) in table 1. * p _<_ 0.1, ** p _<_ 0.05, *** p _<_ 0.01. Robust standard errors in parentheses. All regressions have strata fixed effects and control for variables chosen using post-double-selection lasso procedures and baseline level of the outcome when available. RI p-values are from a randomization inference procedure that randomly permutes treatment assignment. Business performance outcomes are defined as follows: (1) is a binary variable for whether the business is still active; (2) is the distinct number of clients who made a purchase last month; (3) and (4) are revenue in USD last week and last month, respectively, winsorized at the 95th percentile; (5) is profit in USD last month, winsorized at the 95th percentile; and (6) is a business performance index that averages the z-scores from outcomes (1) to (5). Client composition outcomes are defined as follows: (7) is a binary variable for whether the respondent reports that at least some of her clients are not a part of her family or friends; (8) is the number of distinct clients who made a purchase last month and who made the order via online channels such as Facebook or Instagram; (9) is the value in USD of last month’s sales made on store credit, winsorized at the 95th percentile; (10) is the number of distinct clients that currently owe store credit; (11) is the reported percent of last month’s revenue coming through store credit; and (12) is a binary variable for whether the respondent offers delivery services. Outcomes in USD assume a conversion rate of 1.41 USD for 1 JD