온라인 개인간 대출시장에서의 차입자 특성 연구

Abstract

In this paper, we examine factors of success in online P2P (peer-to-peer) lending auctions. This paper finds thefollowing empirical results. First, loan applicants with a stable employment status are more likely to succeed in theauction than loan applicants with an unstable employment status. Second, loan applicants, who actively share personalinformation and interact with lenders through online message boards, are likely to succeed in the auction. Third, thepurpose of a loan for debt repayment has a significant impact on the success of the auction. However, the purposeof a loan for essential living expenses such as housing, living, and medical expenses has an insignificant relationshipwith the success of the auction. Our results imply that the characteristics of loan applicants such as employmentstatus and social interaction are the factors of success in online P2P lending auctions.