A Comparative Study of online P2P Lending in the USA and China
نویسنده
چکیده
Peer-to-Peer (P2P) lending provides online users an innovative loaning and investment vehicle without the intermediation of financial institutions. However, the research on online P2P lending is still scarce. In this study we review relevant literature and conduct a comparative study of online P2P lending practices in the USA and China. We find that two categories of credit information, “hard” and “soft” information, may have profound influences on lending outcomes in both countries, but lenders in China is more reliable on “soft” information. This study provides valuable insights for future research and practices and enriches the understanding of online P2P lending across countries.
منابع مشابه
Herding Behavior in Online Microloan Markets: Evidence from China
Lenders’ herding behavior in the peer-to-peer (P2P) lending platform in China is examined. Based on the data from PPdai.com, the largest online P2P lending market in China, we found that herding behavior is salient in P2P lending market in China, and such herding is associated with higher default rate. Keyword: Rational herding, information cascade, peer-to-peer online lending
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