返回Google圖書搜尋

Borrower Groups and Their Lending Behavior in the Crowdfunding Space - An Analysis of Lending Club Consumer Loans

出版	Universität St. Gallen, 2017
URL	http://books.google.com.hk/books?id=7O3VswEACAAJ&hl=&source=gbs_api

註釋Addressing research gaps in the fast-growing field of crowdfunding, this thesis aims at gaining a better understanding of borrowers, borrower groups and borrower behavior in the peer-to-peer lending space. Besides a theoretical overview of peer-to-peer lending and a deduction of relevant borrower characteristics to analyse borrowers, an empirical analysis was conducted based on a dataset of the peer-to-peer lending platform Lending Club. The analysis included an analysis of the borrower characteristics itself, a mean-difference analysis to evaluate the relationship between general borrower characteristics and borrower behavior and perception, and a comparison with the Survey of Consumer Finances. First, the analysis yielded that although most borrowers have a low-risk profile and receive a good rating, the charge-off rate in peer-to-peer lending is much higher than in commercial banks, leading to the conclusion that a part of the risk is not captured by the information available to the platforms. Second, it was found that borrowers with different characteristics show a different loan-specific behavior. This is equally valid for isolated characteristics as for borrower groups that were designed based on a number of different characteristics. Peer-to-peer borrowers can therefore be divided in groups that differentiate themselves by their behavior.