Bieliński, Tomasz; Ważna, Agnieszka B.; An onowicz, Paweł
A icle
Sha ed mic o-mobili y ma ke dis u bances: The Polish
bike sha ing ma ke in ligh o Z-sco e analysis
Schmalenbach Jou nal o Business Resea ch (SBUR)
P o ided in Coope a ion wi h:
Schmalenbach-Gesellscha ü Be iebswi scha e.V.
Sugges ed Ci a ion: Bieliński, Tomasz; Ważna, Agnieszka B.; An onowicz, Paweł (2024) : Sha ed
mic o-mobili y ma ke dis u bances: The Polish bike sha ing ma ke in ligh o Z-sco e analysis,
Schmalenbach Jou nal o Business Resea ch (SBUR), ISSN 2366-6153, Sp inge , Heidelbe g, Vol. 76,
Iss. 3, pp. 463-481,
h ps://doi.o g/10.1007/s41471-024-00191-5
This Ve sion is a ailable a :
h ps://hdl.handle.ne /10419/312597
S anda d-Nu zungsbedingungen:
Die Dokumen e au EconS o dü en zu eigenen wissenscha lichen
Zwecken und zum P i a geb auch gespeiche und kopie we den.
Sie dü en die Dokumen e nich ü ö en liche ode komme zielle
Zwecke e iel äl igen, ö en lich auss ellen, ö en lich zugänglich
machen, e eiben ode ande wei ig nu zen.
So e n die Ve asse die Dokumen e un e Open-Con en -Lizenzen
(insbesonde e CC-Lizenzen) zu Ve ügung ges ell haben soll en,
gel en abweichend on diesen Nu zungsbedingungen die in de do
genann en Lizenz gewäh en Nu zungs ech e.
Te ms o use:
Documen s in EconS o may be sa ed and copied o you pe sonal
and schola ly pu poses.
You a e no o copy documen s o public o comme cial pu poses, o
exhibi he documen s publicly, o make hem publicly a ailable on he
in e ne , o o dis ibu e o o he wise use he documen s in public.
I he documen s ha e been made a ailable unde an Open Con en
Licence (especially C ea i e Commons Licences), you may exe cise
u he usage igh s as speci ied in he indica ed licence.
h ps://c ea i ecommons.o g/licenses/by/4.0/
ORIGINAL ARTICLE
h ps://doi.o g/10.1007/s41471-024-00191-5
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
Sha ed Mic o-mobili y Ma ke Dis u bances: he Polish
Bike Sha ing Ma ke in Ligh o Z-sco e Analysis
Tomasz Bieli ´
nski ·AgnieszkaB.Wa
˙
zna · Paweł An onowicz
Recei ed: 7 Janua y 2023 / Accep ed: 11 July 2024 / Published online: 19 Augus 2024
© The Au ho (s) 2024
Abs ac U ban anspo a ion has changed d ama ically in he ecen yea s h ough
he la ge scale implemen a ion o sha ed mic o-mobili y se ices, especially bike
sha ing sys ems (BSS) and elec ic scoo e sha ing (ESS). The COVID-19 pandemic
b ough u he changes and unce ain y o his u bulen business en i onmen . In
2020, he majo BSS ope a o in Poland iled o bank up cy claiming ha i s p ob-
lems a ise om he COVID-19 pandemic. Ma ke epo s and media specula ed ha
BSS business, despi e being publicly inanced, and conside ed o be a o pa o
public anspo a ion sys em, could be unsus ainable in ace o he compe i ion om
ESS. We used Z-sco e analysis o in es iga e i bike sha ing sys ems ope a o s’
p oblems began be o e o du ing he COVID-19 pandemic and la ge scale de elop-
men o ESS. Ou s udy ocuses on he Nex bike company, which held a dominan
s ake in he Polish BSS ma ke . I also co e s wo o he majo Polish ope a o s and
includes a Ge man ope a o o compa a i e analysis. To complemen he quan i-
a i e indings om z-sco e analysis, we ha e also in e iewed ep esen a i es o
majo s akeholde s, which deepened ou unde s anding o BSS p oblems. The e-
sul s o ou esea ch indica e ha al hough he ma ke was a ec ed by he COVID-
19 pandemic and g owing scoo e -sha ing compe i ion, he p oblems o he la ges
BSS ope a o we e speci ic o his company, and he en i e ma ke was no unde
he isk o ailu e.
Tomasz Bieli ´
nski · Agnieszka B. Wa˙
zna
Facul y o Economics, Uni e si y o Gda´
nsk, ul. A mii K ajowej 119/121, 81-824 Sopo , Poland
E-Mail: omasz.bielins[email p o ec ed].pl
Agnieszka B. Wa˙
zna
E-Mail: agnies[email p o ec ed].pl
Paweł An onowicz
Facul y o Managemen , Uni e si y o Gda´
nsk, ul. A mii K ajowej 101, 81-824 Sopo , Poland
E-Mail: pawel.an ono[email p o ec ed].pl
K
464 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
Keywo ds Bike sha ing · E-scoo e sha ing · Mic o-mobili y · Z-sco e · U ban
anspo · Bank up cy
JEL R4·R41·R48
1 In oduc ion
De elopmen o he sha ing economy in anspo is widely seen as an oppo u-
ni y o sus ainable u ban anspo de elopmen (Bullock e al. 2017; Caspe sen
and Na ud 2021; Ola u e al. 2021; S ulak-Wójcikiewicz and Wagne 2021). The
sha ing economy concep eme ged a e he 2008 inancial c isis due o he need
o change in he use o esou ces and in andem wi h he In e ne de elopmen .
Fi s ly, being conside ed as a niche in economics i has la ely eme ged as a global
end ollowing he success o wo s a -ups ha became mul i-billion dolla in-
e na ional co po a ions in abou i e yea s—Ai bnb and Ube (Ma in 2016). Also
called as “collabo a i e consump ion”, he sha ing economy is unde s ood as ob ain-
ing, gi ing o sha ing he access o goods and se ices wi h communi y-based on-
line pla o ms’ suppo (Hama i e al. 2016; Möhlmann 2015). Despi e he discus-
sion on he sus ainabili y o he sha ing economy (Ma in 2016), o o e a decade
i has been seen as an oppo uni y o o e come some o socie al p oblems such as
a hype -consump ion o pollu ion. The concep became also a pa o sus ainable
anspo de elopmen , especially in e ms o u ban mobili y, ocusing on i s and
las mile anspo a ion o e sho dis ances (S anding e al. 2018).
Mic o-mobili y is conside ed o ha e a special ole in he de elopmen o u u e
u ban mobili y, as i is e icien in e ms o ene gy use and low nega i e ex e nal
e ec s (li le land usage, noise and pollu ion) (Abduljabba e al. 2021;Sie al.
2021; Zakhem and Smi h-Colin 2021). Since 2021, i has been also pa o he
EU u ban mobili y de elopmen s a egy o suppo u he de elopmen o mic o-
mobili y (Eu opean Commission 2021).
Sha ed mic omobili y se ices including he bike sha ing sys ems help o e-
duce ehicle-kilome es a elled wi hin u banised a eas (Shaheen and Chan 2016).
The e o e, hey a e conside ed o be en i onmen ally iendly solu ions educing ca -
bon oo p in , noise, land use and ime loss caused by a ic conges ion (D’Almeida
e al. 2021; Maas e al. 2022;WangandSun2022). Sha ed ehicles ully o pa -
ially human-powe ed a e also p o ed o be, as all o ms o physical ac i i y a e,
a emedy o men al and physical heal h issues (Almallah e al. 2022; O e o e al.
2018; Sanmiguel-Rod iguez 2022).
In he pas ew yea s, bike sha ing, and ecen ly as de eloping e-scoo e sha -
ing, ha e played a decisi e ole in he de elopmen o mic o-mobili y. Howe e ,
he sus ainabili y o sha ed mic o-mobili y ope a o s’ business models is o en pu
in o ques ion, as hey a e highly dependen on public subsidies o a e inanced by
en u e capi al (Li e al. 2021). As many bike sha ing sys ems (BSS) and Elec ic
Scoo e Sha ing (ESS) sys ems collapse, i is impo an o in es iga e easons o
hei ailu es in o de o be able o coun e ac hem in he u u e. Un o una ely, he e
a e no many mic o-mobili y ope a o s’ ailu e s udies and mos o hem analyse he
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 465
bank up cies o Asian BSS (Si e al. 2021). Ou s udy aims o ill his esea ch gap
by he analysis o he 2020 c isis in he Polish BSS ope a o s’ ma ke . We anal-
yse 3 majo Polish BSS ope a o s, bu ou s udy ocuses on Nex bike Poland— he
dominan BSS ope a o in Poland (wi h 83% o he ma ke , ope a ing 45 BSS in i s
peak yea o 2018) which iled o bank up cy in 2020. Nex bike Polska’s inancial
p oblems o ced he company o issue a new se ies o sha es and e en ually led o
i s acquisi ion by Nex bike GmbH (i s Ge man mo he company). Nex bike claimed
ha he majo eason o i s p oblems was he COVID-19 lockdown, bu as he
company had su e ed losses be o e he i s wa e o he pandemic, i was necessa y
o assess i s inancial condi ion in he p e ious yea s. The COVID-19 e ec on mi-
c omobili y usage is a new and e olu i e subjec o esea ch. Recen ly some s udies
examined passenge s’ beha iou du ing COVID-19, (Bo kowski e al. 2021; Kama -
gianni e al. 2022; Kelle mann e al. 2022). Gene ally, mos o he s udies sugges
ha bike sha ing and scoo e sha ing ide ship ini ially d opped, bu in ime p o ed
o be mo e esilien han public anspo a ion (Beni a 2021; Wang and Noland 2021;
Yan e al. 2021). S ill, COVID 19’s e ec s on sha ed mic omobili y ope a o s e-
mains la gely unknown. We in es iga ed he inancial s abili y o Nex bike Polska,
Geo elo and Roo ee bo h be o e and du ing he COVID-19 pandemic o ind ou i
he p oblems o BSS ope a o s in Poland we e caused by COVID 19 o had begun
be o e he pandemic.
Ano he h ea o he inancial esul s o bike sha ing sys ems ope a o s could be
he eme gence and popula iza ion o e-scoo e sha ing sys ems, which we e ound
o ha e mos ly a compe ing ela ionship wi h bike sha ing (Yan e al. 2021). In
Chicago, when scoo e sha ing was in oduced, he usage o bike sha ing declined
(Yang e al. 2021). Howe e , acco ding o Younes e al. (2020), al hough BSS
and scoo e sha ing sys ems gene ally compe e wi h each o he in Washing on DC,
he e is a complemen a y ela ionship be ween he usage o scoo e sha ing and
bike sha ing o he BSS subsc ip ion membe s (as hey may use scoo e sha ing
when he e a e no bikes a ailable a docking s a ions). The highe a ailabili y o
di e en mic omobili y sys ems can lead o i s collec i e compe i i eness agains
o he modes o anspo . The pe o mance o e-scoo e s may be be e in e ms o
equency o usage, bu hei ope a o s ha e o ace ela i ely high ebalancing and
cha ging cos s (Zhu e al. 2020), he e o e making BSS mo e compe i i e inancially.
The aim o he p esen a icle is o examine he inancial s abili y o he majo BSS
ope a o s in Poland—Nex bike Polska SA, Geo elo and Roo ee—and o iden i y he
mos impo an easons o p oblems ha occu ed in his sec o . We also analyzed
Ge many’s Nex bike GmbH, a leade in he local ma ke , o o e an o e iew
o ma ke condi ions in ano he Eu opean coun y and o p o ide an in e na ional
con ex o ou esea ch. Ou hypo hesis is ha Nex bike Polska inancial di icul ies
began be o e COVID-19 and he wide popula isa ion o e-scoo e sha ing in Poland.
The e o e, hey could no ha e been caused by hese e en s. To e i y his hypo hesis,
we use he me hod o z-sco e analysis.
K
466 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
Table 1 The expansion o Nex bike Polska BSS in Poland 2011–2022
Yea 2011 2015 2016 2017 2018 2019 2020 2021 2022
No. o
BSS
1n.d.n.d.284544373737
Bicycle
lee
140 5000 7800 12,000 15,629 20,166 16,962 16,188 16,600
Sou ce: (Ma ynowicz 2017; sma ide.pl 2022; e az-s odowisko.pl 2015)
2 Mic omobili y Ma ke Compe i i e En i onmen
Bike sha ing sys ems in Poland ha e been in use since 2008. The i s sys em was
launched in C acow and was ope a ed by BikeOne Co po a ion. Nex bike Polska
Co po a ion was es ablished in 2011 unde he license o Nex bike GmbH, exis ing
since 2004 and p o iding sha ed mobili y se ices in 150 ci ies loca ed in 25 coun-
ies and 4 con inen s. The i s BSS o Nex bike Polska was launched in W oclaw
in June 2011, and ope a ed wi h 140 bicycles du ing he i s season (Ma ynowicz
2017). Du ing he nex decade, he bike sha ing ma ke in Poland wen h ough
a pe iod o expansion, wi h he leading posi ion aken up by Nex bike Polska (see
Tables 1and 2).
In ma ch 2015, he numbe o en als exceeded 6 million since he opening o he
i s BSS by Nex bike Polska in 2011 ( e az-s odowisko.pl 2015). The numbe o
hei BSS and hei lee size inc eased om 28 and 12 housand in 2017 espec i ely,
o 45 and 15.6 housand in 2018. As shown in Table 1, he peak in e ms o he
bigges numbe o unning sys ems was eached in 2018. One yea la e , Nex bike
Polska had he bigges lee o his day (o e 20.1 housand bicycles).
The i s e-scoo e sha ing sys ems (ESS) in Poland we e in oduced a he end
o 2018 in Wa saw, W oclaw and Poznan. In he peak o he 2019 season, he e
we e 19 ci ies wi h ESS and he size o he lee eached 11 housands e-scoo e s.
Fo he nex wo yea s he numbe o sha ed e-scoo e s ope a o s, ci ies wi h ESS
and hei lee size had g own apidly. In 2020, he e we e 12 e-scoo e sha ing
ope a o s in 39 ci ies p o iding a lee o 18.8 housand ehicles. These numbe s
inc eased in 2021, o 60 ci ies wi h 46.2 housands sha ed e-scoo e s. As o he end
o he peak season o 2022, he ESS we e a ailable in 161 ci ies and he lee size
eached a numbe o 94 housands ehicles—double in compa ison o he p e ious
yea (sma ide.pl 2022).
Since 2018, he numbe o BSS in Poland has isen despi e he in oduc ion and
apid de elopmen o scoo e sha ing sys ems. The e we e 57 BSS ope a ing in
2018, 69 in 2019 and 2020, 75 in 2021, and 82 in 2022 (as o he peak season).
The numbe o bicycles a ailable o BSS use s peaked in 2019, when he e we e
o e 24.6 housand such ehicles in Poland. The Polish BSS lee size dec eased in
2020, p obably due o he COVID 19 lockdown, bu he numbe o bicycles wen
up again and eached 21.6 housand in 2021, and 23.7 housand in 2022.
Nex bike Polska los pa o he ma ke o i s compe i o s a e 2018–2019, as he
numbe o i s sys ems dec eased om 45 o 37 in 2020–2022. Also i s lee size has
sh unk a e he 2019 peak (20.2 housand bicycles) eaching less han 17 housand
bicycles in 2020–2022. As Nex bike Polska keeps i s posi ion in he Polish big
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 467
Table 2 Polish bike sha ing ma ke s uc u e
Yea 2018 2019 2020 2021 2022
Ope a o : Bicyle
lee
Ma ke
sha e
(%)
No.
o
BSS
Bicyle
lee
Ma ke
sha e
(%)
No.
o
BSS
Bicyle
lee
Ma ke
sha e
(%)
No.
o
BSS
Bicyle
lee
Ma ke
sha e
(%)
No.
o
BSS
Bicyle
lee
Ma ke
sha e
(%)
No.
o
BSS
Nex bike 15,629 83.0 45 20,166 81.8 44 16,962 85.6 37 16,188 74.7 37 16,602 70 37
Geo elo 160 0.8 2 630 2.6 8 655 3.3 11 613 2.8 6 170 0.7 2
Roo ee 150 0.8 4 530 2.1 9 962 4.9 16 1910 8.8 25 2867 12.1 30
F eebike
(BikeU)
2150 11.4 – 2358 9.7 – 990 5.0 – 2680 12.4 4 2775 11.7 5
Blinkee 100 0.5 1 100 0.4 1 – 0.0 – 18 0.1 1 – 0.0 –
Fil i
(Com-
d e sp. z
o.o.)
150 0.8 1 150 0.6 1 150 0.8 1 250 1.2 2 185 0.8 170
Ac o 500 2.7 1 700 2.8 1 70 0.4 1 – 0.0 – – 0.0 –
PKP Mo-
bili y
– 0.0 – – 0.0 – 35 0.2 1 – 0.0 – – 0.0 –
Bol – 0.0 – – 0.0 – – 0.0 – – 0.0 – 980 4.1 6
Role – 0.0 – – 0.0 – – 0.0 – – 0.0 – 147 0.6 1
To al 18,839 100 57 24,661 100 69 19,824 100 69 21,659 100 75 23,726 100 82
Sou ce: (sma ide.pl 2022)
K
468 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
ci ies wi h la ge numbe o bicycles, i s ma ke sha e measu ed in he lee size is
s ill signi ican —70% in 2022, bu i wen down om 74.7% in 2021, 85.6% in
2020, and 81.8% in 2019. Du ing his ime new bike sha ing ope a o s eme ged and
s a ed o deli e hei se ices in smalle owns and esidual a eas. In 2018, he e
we e only 12 sys ems no managed by Nex bike Polska, bu in 2021 his numbe ose
o 38 sys ems (in con as o 37 ope a ed by Nex bike Polska) (sma ide.pl 2022).
AsshowninTable2, he ma ke leade s a ed losing i s compe i i e ad an age o
Geo elo and Roo ee.
The e a e se e al majo di e ences in he business model o di e en BSS op-
e a o s. Mos o Nex bike’s lee a e s a ion based bicycles ( ha can be en ed o
e u ned in he docking s a ions). Roo ee uses ee- loa ing bicycles ha can be
pa ked anywhe e in he limi s o a designa ed a ea ( hough in some cases speci ic
loca ions may be p e e ed by lowe p ices). Roo e uses a single applica ion o
all i s sys ems, whe eas Nex bike c ea ed sepa a e applica ions o each sys em i
manages. This allows Roo e use s o en bicycles no only in hei home own bu
also when hey a el o o he ci ies. Geo elo uses ee- loa ing bicycles, bu equi es
use s o e u n hem in pa king loca ions ma ked wi h geo encing. As he e is no
speci ic in as uc u e equi ed o his kind o pa king loca ions, he company can
lexibly change hem acco ding o he needs o use s wi hou any cos . In his way
a signi ican numbe o pa king places can be main ained a no cos . Addi ional
pa king spaces can be empo a ily c ea ed in case o big social e en s. Addi ionally,
in mos o he Roo e and Geo elo sys ems, use s ha e o pay o each ide om
he e y i s minu e o usage, in con as o Nex bike’s sys ems, whe e usually he
i s 10 o 20min a e ee o cha ge. This way, he e enues o Roo e and Geo elo
depend on he numbe o ides a he han on municipal subsidies.
The main sou ce o e enues o Nex bike Polska we e always con ac s wi h
he municipal au ho i ies o he big Polish ci ies o he dis ibu ion o bicycles and
main enance o BSS. O he e enues o Nex bike include (Nex bike Polska 2022):
e enues om dedica ed bicycle s a ions a ailable o p i a e ecipien s (shopping
malls, o ice buildings);
e enues om he sale o ad e ising space on bicycles;
o he comme cial e enues (p o ision o in as uc u e, comme cializa ion o he
use base);
en al ees.
In 2021, con ac s wi h municipal au ho i ies gene a ed 82.3% o o al e enues
(Nex bike Polska 2022). Ren al ees do no cons i u e an impo an pa o he
Nex bike e enues because o he p icing s a egy o he majo i y o BSS ha is en-
o ced by he con ac s wi h he ci ies. As a majo objec i e o municipal au ho i ies
is o maximize bicycle ide ship, Nex bike and Roo ee en s hem o ee o he
i s 15 o 30min (depending on he BSS and con ac s). Addi ional ees a e cha ged
when his ime is exceeded. This may be one o he easons why Nex bike used
o achie e a highe ips pe day pe bicycle (TDB) indica o han o he ope a o s
(Bieli´
nski e al. 2019). Geo elo uses a di e en p icing s a egy, as i equi es pay-
men om he i s minu e o he en al, bu o e ing also membe ship ha allows
o wo one-hou ides pe day (paid pe mon h, h ee mon hs o annually).
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 469
In No embe 2019, Nex bike GmbH in es ed PLN 11 million in Nex bike Polska
S.A. In his way he Ge man pa ne acqui ed a 45.1% sha e in he capi al and
eached 51.7% o o es a he gene al mee ing, o e aking he majo i y s ake in he
company om he Polish company La q (Janos 2019).
On 31 Ma ch 2020, in Poland unde he egula ion o he Council o Minis e s
he use o bike sha ing sys ems was p ohibi ed due o he pandemic h ea . The ban
las ed un il 6 May 2020, and he e o e he BSS se ices lockdown was abou 5 weeks
long. Wha is impo an , a ha ime no p ohibi ion o o he sha ed mic omobili y
se ices usage was in oduced (gs24.p 2020). Nex bike Polska appealed o a mass
pa icipa ion in public consul a ions wi h he Minis y o Heal h o epo he need
o u gen ly es o e he possibili y o using BSS (nex bike.pl 2020a). The company
also add essed open le e s o he P ime Minis e and he Minis e o Heal h unde -
lying he ad an ages o sha ed bikes in e ms o he educed isk o con amina ion,
especially in compa ison o he o he public anspo se ices (nex bike.pl 2020b).
In May 2020, he managemen boa d o Nex bike Polska decided o submi an
applica ion o opening an accele a ed Compulso y Se lemen p ocedu e and iled
o bank up cy, claiming ha he main eason o his was p oblems ha had occu ed
because o he COVID 19 lockdown (Fo bes 2022).
The Ge man bike-sha ing ma ke saw signi ican g ow h om 2017 o 2020. In
2017, he ma ke alue was $ 47.46 million. This inc eased o $ 52.92 million in
2018, a g ow h o 11.5%. The ma ke alue con inued o ise in 2019 o $ 53.50
million, a modes 1.1% inc ease. A no able su ge occu ed in 2020, wi h he ma -
ke alue jumping o $ 74.63 million, a 39.5% inc ease om he p e ious yea
(S a is a 2023). This subs an ial g ow h was likely in luenced by he COVID-19
pandemic, which encou aged mo e indi idual and socially dis anced anspo a ion
op ions. In con as o Polish au ho i ies, he Ge man go e nmen encou aged bike-
sha ing, which led o highe e enues in he sec o . Ne e heless, Nex bike GmbH
was acqui ed by Tie Mobili y in No embe 2021. Tie is a Be lin-based s a -up,
e-scoo e , and e-moped ope a o (Bellan 2021). In his way, Nex bike Polska has
e en ually become a subsidia y o Tie . Because o he connec ion be ween Nex bike
GmbH and Nex bike Polska, he acquisi ion o he Ge man company by scoo e -
sha ing s a up Tie Mobili y—which may ha e indica ed ha despi e ma ke g ow h,
Nex bike GmbH s uggled wi h inancial liquidi y—and he leading ole o Nex bike
GmbH in he Ge man bike-sha ing ma ke , we ha e chosen Nex bike GmbH o ou
supplemen a y analysis o add mo e in e na ional con ex o he s udy.
3 Da a and Me hods
Holis ic assessmen o he economic and inancial condi ion o en e p ises is possible
h ough he adi ionally ca ied ou a io analysis ( inancial, economic) o h ough
an agg ega e iew, such as Z-sco ing. The au ho s o his s udy op ed o analy ics
based on classi ica ion me hods (Balicki 2009) in he o m o he Linea Disc iminan
Analysis (LDA) ha was in oduced in o he s a is ical me hods heo y by B i ish
gene icis and s a is ician: Ronald Aylme Fishe (1890–1962) (An onowicz 2015;
Box 1978;Ko ze al.2004; K ishnan 1997;Sa age1982,1976). Using a se o LDA
K
470 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
Company
Disc iminan model esul s by yea
2018 2019 2020
Z7 INE PAN (Mączyńska, 2004)
NEXTBIKE POLSKA S.A. 0.22 -3.06 -4.15
In e p e a ion o esul s no a isk o
bank up cy a isk o bank up cy a isk o bank up cy
ROOVEE S.A. No da a 2.91 2.45
In e p e a ion o esul s No da a no a isk o
bank up cy
no a isk o
bank up cy
GEOVELO SP. Z O.O. No da a 8.36 7.20
In e p e a ion o esul s No da a no a isk o
bank up cy
no a isk o
bank up cy
NEXTBIKE GMBH
(GERMANY)
-2.74 -1.70 -4.03
In e p e a ion o esul s a isk o bank up cy a isk o bank up cy a isk o bank up cy
ZHCP (Ham ol e al., 2004)
NEXTBIKE POLSKA S.A. 1.58 -1.04 -2.23
In e p e a ion o esul s no a isk o
bank up cy a isk o bank up cy a isk o bank up cy
ROOVEE S.A. No da a 4.21 1.82
In e p e a ion o esul s No da a.no a isk o
bank up cy
no a isk o
bank up cy
GEOVELO SP. Z O.O. No da a 4.28 3.25
In e p e a ion o esul s No da a no a isk o
bank up cy
no a isk o
bank up cy
NEXTBIKE GMBH
(GERMANY)
0.77 1.59 -1.14
In e p e a ion o esul s no a isk o
bank up cy
no a isk o
bank up cy
a isk o bank up cy
ZBP1 (P usak, 2005)
NEXTBIKE POLSKA S.A. -0.76 -3.01 -3.62
In e p e a ion o esul s a isk o bank up cy a isk o bank up cy a isk o bank up cy
ROOVEE S.A. No da a 1.87 0.80
In e p e a ion o esul s No da a.no a isk o
bank up cy
no a isk o
bank up cy
GEOVELO SP. Z O.O. No da a 1.53 0.50
In e p e a ion o esul s No da a no a isk o
bank up cy no in e p e a ion
NEXTBIKE GMBH
(GERMANY)
-2.80 -2.19 -4.22
In e p e a ion o esul s a isk o bank up cy a isk o bank up cy a isk o bank up cy
ZA(1968)* (Al man, 1968)
NEXTBIKE POLSKA S.A. 0.81 -0.48 -1.33
In e p e a ion o esul s a isk o bank up cy a isk o bank up cy a isk o bank up cy
ROOVEE S.A. No da a 2.94 2.04
In e p e a ion o esul s No da a no in e p e a ion no in e p e a ion
GEOVELO SP. Z O.O. No da a 3.88 3.83
In e p e a ion o esul s No da a.no a isk o
bank up cy
no a isk o
bank up cy
NEXTBIKE GMBH
(GERMANY)
0.78 1.02 -0.01
In e p e a ion o esul s a isk o bank up cy a isk o bank up cy a isk o bank up cy
Fig. 1 Syn he ic z-sco ing o Polish BSS ope a o s in he yea s 2018–2020 using selec ed models o
disc iminan analysis—Z 7INE PAN,Z
HCP,Z
BP1,Z
A(1968)—gene al app oach. Sou ce: own elabo a ion
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 477
o Me o, in which o e 4 housand o he sha ed e-bikes we e o be deli e ed o one
o he Polish municipali ies in 2019. Back hen, i success ul i would be he la ges
e-bike sha ing sys em in he wo ld. The company managed o deli e only o e one
housand o he e-bikes and was no able o p o ide adequa e main enance o his
sys em (Bieli´
nski e al. 2021,2020). This ailu e esul ed in mul imillion losses o
Nex bike Polska and has been men ioned in i s inancial s a emen as one o he
majo easons o i s lowe e enues (Nex bike Polska 2021). This would idea e ha
manage ial decisions and in ol emen in isky p ojec s, and no only COVID 19 ha e
been he majo easons o Nex bike’s inancial ins abili y. We conclude ha BSS
p oblems in Poland had endogenous easons and we e connec ed wi h manage ial
decisions aken by he one leading BSS ope a o a he han he exogenous impac o
COVID 19. Resul s om ea ly wa ning disc iminan models indica e ha he bike-
sha ing se ice (BSS) ope a o s sec o , while no gene ally a isk o insol ency,
did expe ience inancial se backs due o he COVID-19 pandemic and expansion o
scoo e sha ing se ices. Addi ionally, ou analysis o Nex bike GmbH, a p ominen
playe in he Ge man mic omobili y ma ke , e eals signi ican inancial ins abili y
du ing he pe iod unde s udy. The applica ion o ea ly wa ning models in disc im-
inan analysis demons a ed a conside able isk o bank up cy o he yea s 2018,
2019, and 2020, culmina ing in he company’s acquisi ion by Tie Mobili y in 2021.
This s a egic acquisi ion was likely a necessi y o p ese e inancial s abili y amid
ad e se condi ions. Addi ionally, he signi ican decline in z-sco es o he yea 2020
unde sco es he p o ound impac o he COVID-19 pandemic on he mic omobili y
sec o , a ec ing bo h he Ge man and Polish ma ke s. These indings highligh he
sec o ’s suscep ibili y o global economic dis up ions and emphasize he need o
obus s a egies o mi iga e such isks in he u u e.
In e iews wi h s akeholde s led o conclusions abou solu ions o uni e sal p ob-
lems applicable no only o bike-sha ing sys ems in Poland bu also in o he ma ke s.
One majo conclusion is ha subsidy con ac s be ween ope a o s and municipal o
egional au ho i ies should be lexible, allowing ope a o s o con ol lee size based
on ac ual demand o sha ing se ices. This lexibili y could signi ican ly educe
cos s by minimizing bicycle exposu e o elemen s, he , and andalism.
The di e ence be ween Nex bike Polska and i s wo majo compe i o s, is ha
Roo e and Geo elo a e mo e lexible in e ms o using ee- loa ing bicycles a he
han s a ion-based. They also ha e he abili y o mo e i ual s a ions o di e en
loca ions based on changes in demand and empo a y anspo a ion needs associa ed
wi h ci y e en s like conce s and o he ga he ings. Addi ionally, as Roo e and
Geo elo’s e enues a e mo e dependen on bicycle usage a he han municipal
subsidies, hey ha e implemen ed policies o a ac mo e use s, such as o e ing one
applica ion o se e al sys ems. As he in e iews e ealed, his kind o lexibili y
is no possible unde he s ic ules o he municipal con ac s signed by Nex bike
Polska. A simila p oblem occu ed wi h i s Ge man pa en company. While he
Ge man bike-sha ing ma ke g ew, Nex bike GmbH was a isk o insol ency om
2018 o 2020 and was e en ually acqui ed by Tie Mobili y, which p ima ily ope a es
a scoo e -sha ing se ice and is no bound by municipal con ac s. In ecen yea s,
Tie Mobili y and o he mic omobili y companies ope a ing in Ge many ha e added
ee- loa ing e-bikes o hei e-scoo e lee s, leading o he g ow h o he bike-sha ing
K
478 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
ma ke bu also c ea ing compe i ion o Nex bike GmbH. This shows ha ope a o s
should collabo a e closely wi h municipal au ho i ies o nego ia e lexible ules o
he sa e and esponsible usage o bicycles, including a eas o e u ns and s a ion
loca ions. Con ac s should p omo e no only lee a ailabili y bu also e iciency
(measu ed by he numbe o ips o o he desi ed ac o s) and he c ea ion o alue
added o use s.
Funding This wo k was suppo ed by he Uni e si y o Gdansk, p ojec : UG an s- i s No. 533-E000-
GF17-22.
Con lic o in e es T. Bieli ´
nski, A.B. Wa˙
zna and P. An onowicz decla e ha hey ha e no compe ing
in e es s.
Open Access This a icle is licensed unde a C ea i e Commons A ibu ion 4.0 In e na ional License,
which pe mi s use, sha ing, adap a ion, dis ibu ion and ep oduc ion in any medium o o ma , as long as
you gi e app op ia e c edi o he o iginal au ho (s) and he sou ce, p o ide a link o he C ea i e Com-
mons licence, and indica e i changes we e made. The images o o he hi d pa y ma e ial in his a icle
a e included in he a icle’s C ea i e Commons licence, unless indica ed o he wise in a c edi line o he
ma e ial. I ma e ial is no included in he a icle’s C ea i e Commons licence and you in ended use is no
pe mi ed by s a u o y egula ion o exceeds he pe mi ed use, you will need o ob ain pe mission di ec ly
om he copy igh holde . To iew a copy o his licence, isi h p://c ea i ecommons.o g/licenses/by/4.
0/.
Re e ences
Abduljabba , R.L., S. Liyanage, and H. Dia. 2021. The ole o mic o-mobili y in shaping sus ainable
ci ies: A sys ema ic li e a u e e iew. T anspo a ion Resea ch Pa D: T anspo and En i onmen
92:102734. h ps://doi.o g/10.1016/J.TRD.2021.102734.
Almallah, M., W. Alhajyaseen, Q. Hussain, A. Mohammad, and M. Alqa adawi. 2022. P omo ing cycling
ac i i ies in he S a e o Qa a : Challenges and po en ial ea men s. P ocedia Compue Science
201:117–125. h ps://doi.o g/10.1016/J.PROCS.2022.03.018.
Al man, E.I. 1968. Financial Ra ios, Disc iminan Analysis and he P edic ion o Co po a e Bank up cy.
The Jou nal o Finance 23:589–609.
An onowicz, P. 2008. Ocena sku eczno´
sci badania polskich p zedsi˛ebio s w p zy wyko zys aniu wyb anych
modeli dysk yminacyjnych. In Bank uc wa P zedsi˛ebio s w. Wyb ane Aspek y Ins y ucjonalne,ed.
E. M ˛aczy´
nska, 229–242. Wa szawa: Szkoła Główna Handlowa w Wa szawie—O icyna Wydawnicza.
An onowicz, P. 2010a. Zmienne egzogeniczne unkcji dysk yminacyjnych w polskich modelach p og-
nozowania upadło´
sci p zedsi˛ebio s w. In S ymulowanie Innowacyjno´sci i Konku encyjno´sci P zed-
si˛ebio s wa w O oczeniu Globalnej Gospoda ki Wiedzy, ed. A.P. Balce zak, E. Rogalska. To u´
n:
Wydawnic wo Naukowe Uniwe sy e u Mikołaja Kope nika.
An onowicz, P. 2010b. Zas osowanie macie zy klasy ikacji p zedsi˛ebio s w do oceny zdolno´sci p edyk-
cyjnych 52 modeli Z-Sco e. Zeszy y Naukowe Poli echniki Rzeszowskiej “Za z ˛adzanie i Ma ke ing”,
Vol. 17, 19–28.
An onowicz, P. 2015. Bank uc wa i upadło´sci p zedsi˛ebio s w.Gda
´
nsk: Wydawnic wo Uniwe sy e u
Gda´
nskiego.
Balicki, A. 2009. s a ys yka. S a ys yczna analiza wielowymia owa i jej zas osowania społeczno-eko-
nomiczne. Wydawnic wo Uniwe y e u Gda´
nskiego.
Bellan, R. 2021. E-scoo e s a up Tie buys Nex bike o double down on commi men o e-bikes |
TechC unch. h ps:// echc unch.com/2021/11/15/e-scoo e -s a up- ie -buys-nex bike- o-double-
down-on-commi men - o-e-bikes/?guccoun e =1&guce_ e e e =aHR0cHM6Ly93d3cuZ29 Z2xlL
mN bS8&guce_ e e e _sig=AQAAAMklM3eZ1- oUMHilw9Wi3 NcAdd1eQso VNgUPexVYPiO
_kJSQUKi64Czy54AoBA9gma6d7_b-gP2M19IE0RcORc1mLpPB1lXH1VMDXVN4QeW-D Mo
R_hkcPh C24N MN0hoE_FDIhYP0QQwA1T88eZTDdoTuIkY0Ss_k4 L62. Accessed 29 Oc
2022.
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 479
Beni a, F. 2021. Human mobili y beha io in COVID-19: A sys ema ic li e a u e e iew and bibliome ic
analysis. Sus ainable Ci ies and Socie y 70:102916. h ps://doi.o g/10.1016/J.SCS.2021.102916.
Bieli´
nski, T., A. Kwapisz, and A. Wa˙
zna. 2019. Bike-sha ing sys ems in Poland. Sus ainabili y h ps://doi.
o g/10.3390/su11092458.
Bieli´
nski, T., Ł. Dopie ała, M. Ta kowski, and A. Wa˙
zna. 2020. Lessons om implemen ing a me opoli an
elec ic bike sha ing sys em. Ene gies h ps://doi.o g/10.3390/en13236240.
Bieli´
nski, T., A. Kwapisz, and A. Wa˙
zna. 2021. Elec ic bike-sha ing se ices mode subs i u ion o d i -
ing, public ansi , and cycling. T ansp Res D T ansp En i on h ps://doi.o g/10.1016/j. d.2021.
102883.
Bo kowski, P., M. Ja˙
zd˙
zewska-Gu a, and A. Szmel e -Ja osz. 2021. Lockdowned: E e yday mobili y
changes in esponse o COVID-19. Jou nal o T anspo Geog aphy 90:102906. h ps://doi.o g/10.
1016/j.j angeo.2020.102906.
Box, J.R.A. 1978. Fishe : The Li e o a Scien is
Bullock, C., F. B e e on, and S. Bailey. 2017. The economic con ibu ion o public bike-sha e o he sus-
ainabili y and e icien unc ioning o ci ies. Sus ainable Ci ies and Socie y 28:76–87. h ps://doi.o g/
10.1016/J.SCS.2016.08.024.
Caspe sen, E., and S. Na ud. 2021. The sha ing economy and consume p e e ences o en i onmen-
ally sus ainable las mile deli e ies. T anspo a ion Resea ch Pa D: T anspo and En i onmen
95:102863. h ps://doi.o g/10.1016/J.TRD.2021.102863.
D’Almeida, L., T. Rye, and F. Pomponi. 2021. Emissions assessmen o bike sha ing schemes: The case
o Jus Ea Cycles in Edinbu gh, UK. Sus ainable Ci ies and Socie y 71:103012. h ps://doi.o g/10.
1016/J.SCS.2021.103012.
Eu opean Commission. 2021. The New EU U ban Mobili y F amewo k. Communica ion om he Com-
mission o he Eu opean Pa liamen , he Council, he Eu opean Economic And Social Commi ee and
The Commi ee O The Regions.
Fo bes. 2022. Nex bike zło˙
zył wniosek o upadło´
s´
c. h ps://www. o bes.pl/biznes/nex bike-zlozyl-wniosek-
o-upadlosc/1s7e67b. Accessed 29 Oc 2022.
gs24.p. 2020. Rowe y miejskie wył ˛aczone z u˙
zy ku, a co ze sku e ami i hulajnogami? S ˛a dezyn ekowane
| Głos Szczeci´
nski. h ps://gs24.pl/ owe y-miejskie-wylaczone-z-uzy ku-a-co-ze-sku e ami-i-
hulajnogami-sa-dezyn ekowane/a /c1-14897727. Accessed 11 Ma 2022.
Hama i, J., M. Sjöklin , and A. Ukkonen. 2016. The sha ing economy: Why people pa icipa e in collabo a-
i e consump ion. Jou nal o he Associa ion o In o ma ion Science and Technology 67:2047–2059.
h ps://doi.o g/10.1002/ASI.23552.
Ham ol, M., B. Czajka, and M. Piechocki. 2004. Analiza dysk yminacyjna : P zegl ˛
ad najwa˙
zniejszych
modeli. P zegl ˛ad O ganizacji 4:34–38. h ps://doi.o g/10.33141/po.2004.04.08.
Janos, K. 2019. Polski Nex bike pod kon ol ˛a niemieckiego. Rodzima spółka miała p oblemy inansowe.
h ps://www.money.pl/gospoda ka/polski-nex bike-pod-kon ola-niemieckiego- odzima-spolka-
miala-p oblemy- inansowe-6447029238040705a.h ml. Accessed 29 Oc 2022.
Kama gianni, M., C. Geo gouli, L.P. T onca, and M. Chanio akis. 2022. Changing anspo planning ob-
jec i es du ing he Co id-19 lockdowns: Ac ions aken and lessons lea ned o enhancing sus ainable
u ban mobili y planning. Ci ies 131:103873. h ps://doi.o g/10.1016/J.CITIES.2022.103873.
Kelle mann, R., D. Si izaca Conde, D. Rößle , N. Kliewe , and H.L. Dienel. 2022. Mobili y in pandemic
imes: Explo ing changes and long- e m e ec s o COVID-19 on u ban mobili y beha io . T ans-
po a ion Resea ch In e disciplina y Pe spec i es 15:100668. h ps://doi.o g/10.1016/J.TRIP.2022.
100668.
Ko z, S., C.B. Read, N. Balak ishnan, B. Vidako ic, and N.L. Johnson. 2004. Encyclopedia o S a is ical
Sciences. Encyclopedia o S a is ical Sciences.h ps://doi.o g/10.1002/0471667196.
K ishnan, T. 1997. Fishe ’s con ibu ions o s a is ics. Resonance 2(9):32–37. h ps://doi.o g/10.1007/
BF02834579.
Laa, B., and G. Embe ge . 2020. Bike sha ing: Regula o y op ions o con lic ing in e es s—Case s udy
Vienna. T anspo Policy 98:148–157. h ps://doi.o g/10.1016/J.TRANPOL.2020.03.009.
Li, D., F. Jia, and G. Liu. 2021. How do bike-sha ing pla o m companies o e come he ope a ional chal-
lenge? A social exchange pe spec i e.h ps://doi.o g/10.1080/09537287.2020.1864583.
Liu, H.C., and J.J. Lin. 2022. Associa ions o buil en i onmen s wi h spa io empo al pa e ns o sha ed
scoo e use: A compa ison wi h sha ed bike use. T anspo Policy 126:107–119. h ps://doi.o g/10.
1016/J.TRANPOL.2022.07.012.
Maas, S., M. A a d, and M.A. Ca uana. 2022. Mo i a o s and ba ie s o sha ed bicycle use in ‘s a e ’ cy-
cling ci ies: E idence om BSS use su eys in h ee Sou he n Eu opean island ci ies. T anspo a ion
Resea ch P ocedia 62:67–74. h ps://doi.o g/10.1016/J.TRPRO.2022.02.009.
K
480 Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481
M˛aczy´
nska, E. 2004. Globalizacja yzyka a sys emy wczesnego os zegania p zed upadło´sci ˛a p zed-
si˛ebio s w. Zeszy y Naukowe / Akademia Ekonomiczna w Poznaniu, Vol. 49, 107–118.
Maku a , D.A., and K. Wojewódzka-K ól. 2019. Oppo uni ies and Challenges o Companies in he Bike
Sha ing Indus y Illus a ed by he Example o Nex bike Poland. T anspo Economics and Logis ics
84:59–69. h ps://doi.o g/10.26881/ETIL.2019.84.05.
Ma in, C.J. 2016. The sha ing economy: A pa hway o sus ainabili y o a nigh ma ish o m o neolib-
e al capi alism? Ecological Economics 121:149–159. h ps://doi.o g/10.1016/J.ECOLECON.2015.
11.027.
Ma ynowicz, G. 2017. Sze Nex bike Polska: w ym oku osi ˛agniemy 43 mln zł p zychodów—MamBiznes.
pl. h ps://mambiznes.pl/wlasny-biznes/sze -nex bike-polska- ym- oku-osiagniemy-43-mln-zl-
p zychodow-80930. Accessed 24 Oc 2022.
Mobilne Mias o. 2020. Os e hamowanie owe u miejskiego. Bike sha ing w Polsce 2019/2020. Epizod,
czy pocz ˛a ek k yzysu? h ps://sma ide.pl/wp-con en /uploads/2020/03/Mobilne_Mias o_ apo _
bikesha ing_ inal.pd . Accessed 19.01..
Möhlmann, M. 2015. Collabo a i e consump ion: de e minan s o sa is ac ion and he likelihood o using
a sha ing economy op ion again. Jou nal o Consume Beha iou 14:193–207. h ps://doi.o g/10.
1002/CB.1512.
Nex bike Polska. 2020a. Apel o p zyw ócenie owe ów publicznych. h ps://nex bike.pl/apelujemy-o-
p zyw ocenie- owe ow-publicznych/. Accessed 11 Ma 2022.
Nex bike Polska. 2020b. Lis do P emie a Mo awieckiego. h ps://nex bike.pl/pismo-do-p emie a-
mo awieckiego/. Accessed 11 Ma 2022.
Nex bike Polska. 2021. Rapo oczny za ok 2020. Wa szawa
Nex bike Polska. 2022. Rapo oczny za ok 2021. Wa szawa
Ola u, D., S. G ea es, C. Leigh on, B. Smi h, and T. A nold. 2021. Pee - o-Pee (P2P) ca sha ing and
d i e less ehicles: A i udes and alues o ehicle owne s. T anspo a ion Resea ch Pa A: Policy
and P ac ice 151:180–194. h ps://doi.o g/10.1016/J.TRA.2021.07.008.
O e o, I., M.J. Nieuwenhuijsen, and D. Rojas-Rueda. 2018. Heal h impac s o bike sha ing sys ems in
Eu ope. En i onmen In e na ional 115:387–394. h ps://doi.o g/10.1016/J.ENVINT.2018.04.014.
P usak, B. 2005. Nowoczesne me ody p ognozowania zag o˙
zenia inansowego p zedsi˛ebio s w.Gda
´
nsk:
Di in.
Reddick, C.G., Y. Zheng, and T. Liu. 2020. Roles o go e nmen in egula ing he sha ing economy: A case
s udy o bike sha ing in China. In o ma ion Poli y 25:219–235. h ps://doi.o g/10.3233/IP-190207.
Sanmiguel-Rod iguez, A. 2022. Bike-sha ing sys ems: E ec s on physical ac i i y in a Spanish munici-
pali y. Physical Ac i i y Re iew h ps://doi.o g/10.16926/pa .2022.10.2.
Sa age, L.J. 1976. On Re eading R. A. Fishe ., 441–500. h ps://doi.o g/10.1214/aos/1176343456.
Sa age, L.J. 1982. The W i ings o Leona d Jimmie Sa age—A Memo ial Selec ion. The Ame ican S a is-
ician 36:121. h ps://doi.o g/10.1080/00031305.1982.10482802.
Shaheen, S., and N. Chan. 2016. Mobili y and he sha ing economy: Po en ial o acili a e he i s - and
las -mile public ansi connec ions. Buil En i onmen 42:573–588. h ps://doi.o g/10.2148/BENV.
42.4.573.
Si, S., H. Chen, W. Liu, and Y. Yan. 2021. Dis up i e inno a ion, business model and sha ing economy:
he bike-sha ing cases in China. Managemen Decision 59:2674–2692. h ps://doi.o g/10.1108/MD-
06-2019-0818/FULL/XML.
sma ide.pl. 2022. Mik omobilno´
s´
c. S e a Danych Rynek i s a ys yki. h ps://sma ide.pl/s e a-danych/.
Accessed 24 Oc 2022.
S anding, C., S. S anding, and S. Bie mann. 2018. The implica ions o he sha ing economy o anspo .,
226–242. h ps://doi.o g/10.1080/01441647.2018.1450307.
S a is a. 2023. Ac i e and mic omobili y in Ge many. Indus ies & Ma ke s., 1–61.
S ulak-Wójcikiewicz, R., and N. Wagne . 2021. Explo ing oppo uni ies o using he sha ing economy
in sus ainable u ban eigh anspo . Sus ainable Ci ies and Socie y 68:102778. h ps://doi.o g/10.
1016/J.SCS.2021.102778.
e az-s odowisko.pl. 2015. 6 milionów wypo˙
zycze´
n owe ów miejskich w Polsce! h ps://www. e az-
s odowisko.pl/ak ualnosci/6-milionow-wypozyczen- owe ow-miejskich-709.h ml. Accessed 24 Oc
2022.
Vi kauskai ˙
e, E., and E. Vaiˇ
ciukynai ˙
e. 2020. Associa ion o In o ma ion Sys ems. AIS Elec onic Lib a y
(AISeL) Compa a i e S udy o Business Models o Eu opean Mic o-Compa a i e S udy o Business
Models o Eu opean Mic o-Mobili y Online Se ices Mobili y Online Se ices., 12–17. Associa ion
o In o ma ion Sys ems AIS Elec onic Lib a y (AISeL).
K
Schmalenbachs Zei sch i ü be iebswi scha liche Fo schung (2024) 76:463–481 481
Wang, H., and R.B. Noland. 2021. Bikesha e and subway ide ship changes du ing he COVID-19 pan-
demic in New Yo k Ci y. T anspo Policy 106:262–270. h ps://doi.o g/10.1016/J.TRANPOL.2021.
04.004.
Wang, Y., and S. Sun. 2022. Does la ge scale ee- loa ing bike sha ing eally imp o e he sus ainabili y
o u ban anspo a ion? Empi ical e idence om Beijing. Sus ainable Ci ies and Socie y 76:103533.
h ps://doi.o g/10.1016/J.SCS.2021.103533.
Wiewio a, P. 2021. Fo muła owe u miejskiego si˛e wycze puje. Spada zain e esowanie, osn ˛akosz y
RAPORT. h ps://www.po alsamo zadowy.pl/gospoda ka-komunalna/ o mula- owe u-miejskiego-
sie-wycze puje-spada-zain e esowanie- osna-kosz y- apo ,335233.h ml. Accessed 29 Oc 2022.
Yan, X., W. Yang, X. Zhang, Y. Xu, I. Bejle i, and X. Zhao. 2021. A spa io empo al analysis o e-scoo e s’
ela ionships wi h ansi and s a ion-based bikesha e. T anspo a ion Resea ch Pa D: T anspo
and En i onmen 101:103088. h ps://doi.o g/10.1016/J.TRD.2021.103088.
Yang, H., J. Huo, Y. Bao, X. Li, L. Yang, and C.R. Che y. 2021. Impac o e-scoo e sha ing on bike
sha ing in Chicago. T anspo a ion Resea ch Pa A: Policy and P ac ice 154:23–36. h ps://doi.o g/
10.1016/J.TRA.2021.09.012.
Younes, H., Z. Zou, J. Wu, and G. Baiocchi. 2020. Compa ing he Tempo al De e minan s o Dockless
Scoo e -sha e and S a ion-based Bike-sha e in Washing on, D.C. T anspo a ion Resea ch Pa A:
Policy and P ac ice 134:308–320. h ps://doi.o g/10.1016/J.TRA.2020.02.021.
Zakhem, M., and J. Smi h-Colin. 2021. Mic omobili y implemen a ion challenges and oppo uni ies: Anal-
ysis o e-scoo e pa king and high-use co ido s. T anspo a ion Resea ch Pa D: T anspo and
En i onmen 101:103082. h ps://doi.o g/10.1016/J.TRD.2021.103082.
Zhao, S., J. Xiong, S.Y. Kim, L. Xu, and J. Yan. 2020. When bike-sha ing c ashed in China: a bumpy ide.
Jou nal o Business S a egy 42:295–303. h ps://doi.o g/10.1108/JBS-01-2020-0003/FULL/XML.
Zhu, R., X. Zhang, D. Kondo , P. San i, and C. Ra i. 2020. Unde s anding spa io- empo al he e ogenei y o
bike-sha ing and scoo e -sha ing mobili y. Compu e s, En i onmen and U ban Sys ems 81:101483.
h ps://doi.o g/10.1016/J.COMPENVURBSYS.2020.101483.
Publishe ’s No e Sp inge Na u e emains neu al wi h ega d o ju isdic ional claims in published maps
and ins i u ional a ilia ions.
K
