Herding behavior in online P2P lending: An empirical investigation

Cited 222 time in webofscience Cited 0 time in scopus
  • Hit : 1210
  • Download : 0
DC FieldValueLanguage
dc.contributor.authorLee, Eunkyoungko
dc.contributor.authorLee, Byungtaeko
dc.date.accessioned2013-03-12T08:20:50Z-
dc.date.available2013-03-12T08:20:50Z-
dc.date.created2012-12-24-
dc.date.created2012-12-24-
dc.date.issued2012-09-
dc.identifier.citationELECTRONIC COMMERCE RESEARCH AND APPLICATIONS, v.11, no.5, pp.495 - 503-
dc.identifier.issn1567-4223-
dc.identifier.urihttp://hdl.handle.net/10203/101773-
dc.description.abstractWe study lender behavior in the peer-to-peer (P2P) lending market, where individuals bid on unsecured microloans requested by other individual borrowers. Online P2P exchanges are growing, but lenders in this market are not professional investors. In addition, lenders have to take big risks because loans in P2P lending are granted without collateral. While the P2P lending market shares some characteristics of online markets with respect to herding behavior, it also has characteristics that may discourage it. This study empirically investigates herding behavior in the P2P lending market where seemingly conflicting conditions and features of herding are present. Using a large sample of daily data from one of the largest P2P lending platforms in Korea, we find strong evidence of herding and its diminishing marginal effect as bidding advances. We employ a multinomial logit market-share model in which relevant variables from prior studies on P2P lending are assessed. (C) 2012 Elsevier B.V. All rights reserved.-
dc.languageEnglish-
dc.publisherELSEVIER SCIENCE BV-
dc.subjectINFORMATIONAL CASCADES-
dc.subjectMARKET-
dc.subjectMODEL-
dc.subjectINVESTMENT-
dc.subjectINTERNET-
dc.titleHerding behavior in online P2P lending: An empirical investigation-
dc.typeArticle-
dc.identifier.wosid000311496700005-
dc.identifier.scopusid2-s2.0-84867560183-
dc.type.rimsART-
dc.citation.volume11-
dc.citation.issue5-
dc.citation.beginningpage495-
dc.citation.endingpage503-
dc.citation.publicationnameELECTRONIC COMMERCE RESEARCH AND APPLICATIONS-
dc.identifier.doi10.1016/j.elerap.2012.02.001-
dc.contributor.localauthorLee, Byungtae-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorEconomic analysis-
dc.subject.keywordAuthorEmpirical research-
dc.subject.keywordAuthorHerding-
dc.subject.keywordAuthorMarket share modeling-
dc.subject.keywordAuthorMicrofinance-
dc.subject.keywordAuthorP2P lending-
dc.subject.keywordAuthorReverse auctions-
dc.subject.keywordAuthorSocial networks-
dc.subject.keywordPlusINFORMATIONAL CASCADES-
dc.subject.keywordPlusMARKET-
dc.subject.keywordPlusMODEL-
dc.subject.keywordPlusINVESTMENT-
dc.subject.keywordPlusINTERNET-
Appears in Collection
MT-Journal Papers(저널논문)
Files in This Item
There are no files associated with this item.
This item is cited by other documents in WoS
⊙ Detail Information in WoSⓡ Click to see webofscience_button
⊙ Cited 222 items in WoS Click to see citing articles in records_button

qr_code

  • mendeley

    citeulike


rss_1.0 rss_2.0 atom_1.0