Artikel
Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending
We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the monitoring of loan repayment can be delegated to designated group leaders. We find that these market participants act as financial intermediaries and significantly improve borrowers' credit conditions by reducing information asymmetries, predominantly for borrowers with less attractive risk characteristics. Our findings may be surprising given the replacement of a bank by an electronic marketplace.
- Language
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Englisch
- Bibliographic citation
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Journal: BuR - Business Research ; ISSN: 1866-8658 ; Volume: 2 ; Year: 2009 ; Issue: 1 ; Pages: 39-65 ; Göttingen: VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
- Classification
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Management
- Subject
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asymmetric information
electronic markets
intermediation
social lending
Finanzintermediation
Asymmetrische Information
Social Web
Kreditgeschäft
E-Business
- Event
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Geistige Schöpfung
- (who)
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Berger, Sven C.
Gleisner, Fabian
- Event
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Veröffentlichung
- (who)
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VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
- (where)
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Göttingen
- (when)
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2009
- DOI
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doi:10.1007/BF03343528
- Handle
- URN
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urn:nbn:de:0009-20-19400
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Berger, Sven C.
- Gleisner, Fabian
- VHB - Verband der Hochschullehrer für Betriebswirtschaft, German Academic Association of Business Research
Time of origin
- 2009
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Empirical evidence of faulty credit scoring and business failure in P2P lending
The role of punctuation in P2P lending: Evidence from the People's Republic of China
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Die Kreditvergabe über P2P-Lending Plattformen im internationalen Privatrecht
Networking with peers: Evidence from a P2P lending platform
Adverse selection in P2P lending: Does peer screening work efficiently? Empirical evidence from a P2P platform
Improving Consumer Protection for Low-Income Customers in P2P Lending
Herding behaviour in P2P lending markets
A process model on P2P lending
Optimal regulation of P2P lending for small and medium-sized enterprises
Borrower's default and self-disclosure of social media information in P2P lending
Empirical evidence of faulty credit scoring and business failure in P2P lending
The role of punctuation in P2P lending: Evidence from the People's Republic of China
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Die Kreditvergabe über P2P-Lending Plattformen im internationalen Privatrecht
Networking with peers: Evidence from a P2P lending platform
Adverse selection in P2P lending: Does peer screening work efficiently? Empirical evidence from a P2P platform
Improving Consumer Protection for Low-Income Customers in P2P Lending
Herding behaviour in P2P lending markets
A process model on P2P lending
Optimal regulation of P2P lending for small and medium-sized enterprises
Borrower's default and self-disclosure of social media information in P2P lending
Empirical evidence of faulty credit scoring and business failure in P2P lending
The role of punctuation in P2P lending: Evidence from the People's Republic of China
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Determinants of borrowers' default in P2P lending under consideration of the loan risk class
Die Kreditvergabe über P2P-Lending Plattformen im internationalen Privatrecht
Networking with peers: Evidence from a P2P lending platform
Adverse selection in P2P lending: Does peer screening work efficiently? Empirical evidence from a P2P platform