Determinants of growth of business in consumer e-commerce across countries in the era of disruptive innovation

In the era of disruptive innovation, e-commerce business proliferates in developed or developing countries. The phenomenal growth can be seen in the contribution of business to consumer (B2C) electronic commerce (e-commerce) to the total domestic trade in each country. The purpose of this study is to identify the factors that influence and stimulate the growth of B2C e-commerce across countries. The data that are used in this research are panel data from 14 countries from 2010 to 2016 through the approach of econometric analysis in the form of multiple linear regression with the Generalized Least Square (GLS) estimation technique. From this study, it can be concluded that internet users, the readiness of electronic transaction regulation, and the ease of venture capital access are the determinants of B2C e-commerce growth across countries because they have a positive and significant influence. This finding can be used by the regulator to review in the development of e-commerce in each country.