In the developing world,vulnerable communities often lack access to regular income sources to cope with unforeseen events.Recent advancements in financial technology have enabled microcredit to be delivered via digita...In the developing world,vulnerable communities often lack access to regular income sources to cope with unforeseen events.Recent advancements in financial technology have enabled microcredit to be delivered via digital platforms.Although digital credit may quicken remote access to consumer credit without the need for collateral,little is known about its contribution to the welfare of underserved communities.This study examines the effects of local digital lending development on deprivation and explores the implications of these effects on rural inhabitants.The results show a negative association between local digital lending development and food deprivation on one hand and health deprivation on the other.The evidence suggests that local digital lending development can reduce the probability of food and health deprivation.Furthermore,the evidence reveals that inhabitants of rural communities benefit more from digital lending development.This study recommends the decentralization of financial inclusion policies as a pathway to promote digital lending at the local level.展开更多
In the last decade,the risk evaluation and the investment decision are among the most prominent issues of efficient project management.Especially,the innovative financial sources could have some specific risk appetite...In the last decade,the risk evaluation and the investment decision are among the most prominent issues of efficient project management.Especially,the innovative financial sources could have some specific risk appetite due to the increasing return of invest-ment.Hence,it is important to uncover the risk factors of fintech investments and investigate the possible impacts with an integrated approach to the strategic priorities of fintech lending.Accordingly,this study aims to analyze a unique risk set and the stra-tegic priorities of fintech lending for clean energy projects.The most important contri-butions to the literature can be listed as to construct an impact-direction map of risk-based strategic priorities for fintech lending in clean energy projects and to measure the possible influences by using a hybrid decision making system with golden cut and bipolar q-rung orthopair fuzzy sets.The extension of multi stepwise weight assessment ratio analysis(M-SWARA)is applied for weighting the risk factors of fintech lending.The extension of elimination and choice translating reality(ELECTRE)is employed for con-structing and ranking the risk-based strategic priorities for clean energy projects.In this process,data is obtained with the evaluation of three different decision makers.The main superiority of the proposed model by comparing with the previous models in the literature is that significant improvements are made to the classical SWARA method so that a new technique is created with the name of M-SWARA.Hence,the causality analysis between the criteria can also be performed in this proposed model.The find-ings demonstrate that security is the most critical risk factor for fintech lending system.Moreover,volume is found as the most critical risk-based strategy for fintech lending.In this context,fintech companies need to take some precautions to effectively manage the security risk.For this purpose,the main risks to information technologies need to be clearly identified.Next,control steps should be put for these risks to be managed properly.Furthermore,it has been determined that the most appropriate strategy to increase the success of the fintech lending system is to increase the number of financi-ers integrated into the system.Within this framework,the platform should be secure and profitable to persuade financiers.展开更多
This paper focuses on how to use consortium blockchain to improve the regulation of peer-to-peer(P2 P) lending market. The partial decentralized consortium blockchain with limited pre-set nodes can well improve transp...This paper focuses on how to use consortium blockchain to improve the regulation of peer-to-peer(P2 P) lending market. The partial decentralized consortium blockchain with limited pre-set nodes can well improve transparency and security, which is suitable for financial regulation. Considering irregularities of the P2P lending market, the Hyperledger-based Peer-to-Peer Lending System(HyperP2PLS) is proposed. First elaborate the application scenario and business logic of the system, where a national P2P Lending Trading Center will be established to integrate all transactions and information of P2P lending market. Then construct the system architecture consisting of the blockchain network, HTTP server, and applications. The algorithm of implementation process and the web application for users have been well illustrated. The performance analysis shows that HyperP2PLS can guarantee the reliability, safety, transparency and efficiency.展开更多
In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based ...In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based financial technologies(Fintech)have been identified as important disruptive driving forces for this paradigm shift.In this paper,we take an information economics perspective to investigate how big data affects the transformation of the lending industry.By identifying how signaling and search costs are reduced by big data analytics for credit risk management of P2P lending,we discuss how information asymmetry is reduced in the big data era.Rooted in the lending business,we propose a theory on the economics of big data and outline a number of research opportunities and challenging issues.展开更多
Fintechs are believed to help expand credit access to underserved consumers without taking on additional risk.We compare the performance efficiency of LendingClub’s unsecured personal loans with similar loans origina...Fintechs are believed to help expand credit access to underserved consumers without taking on additional risk.We compare the performance efficiency of LendingClub’s unsecured personal loans with similar loans originated by banks.Using stochastic frontier estimation,we decompose the observed nonperforming loan(NPL)ratio into three components:the best-practice minimum NPL ratio,the excess NPL ratio,and a statistical noise,the former two of which reflect the lender’s inherent credit risk and lending inefficiency,respectively.As of 2013 and 2016,we find that the higher NPL ratios at the largest banks are driven by inherent credit risk,rather than lending inefficiency.Smaller banks are less efficient.In addition,as of 2013,LendingClub’s observed NPL ratio and lending efficiency were in line with banks with similar lending volume.However,its lending efficiency improved significantly from 2013 to 2016.As of 2016,LendingClub’s performance resembled the largest banks–consistent with an argument that its increased use of alternative data and AI/ML may have improved its credit risk assessment capacity above and beyond its peers using traditional approaches.Furthermore,we also investigate capital market incentives for lenders to take credit risk.Market value regression using the NPL ratio suggests that market discipline provides incentives to make less risky consumer loans.However,the regression using two decomposed components(inherent credit risk and lending inefficiency)tells a deeper underlying story:market value is significantly positively related to inherent credit risk at most banks,whereas it is significantly negatively related to lending inefficiency at most banks.Market discipline appears to reward exposure to inherent credit risk and punish inefficient lending.展开更多
Background:Prosocial crowdfunding helps the underprivileged obtain non-profitseeking loans from multitudinous lenders.Some platforms introduce teamcompetition to motivate member participation and may thus induce team ...Background:Prosocial crowdfunding helps the underprivileged obtain non-profitseeking loans from multitudinous lenders.Some platforms introduce teamcompetition to motivate member participation and may thus induce team rivalry.Methods:We investigate how team rivalry affects lending decisions using data fromKiva.org.We argue that a rivalry relationship may engage teams to compete directlyagainst rivals by lending to the same project or prevent them from doing sobecause they intend not to cooperate.Result:We find that a team is less likely to lend to a project that has receivedfunding from its rival team,suggesting that rival teams tend to avoid cooperation.Conclusions:We discuss the implications of our findings for crowdfundingand competition-based motivation mechanisms in general.展开更多
The necessity of the agricultural policy-based finance in terms of supporting the new village construction is analyzed: in the first place, the theoretical roots of agricultural policy-based finance supporting new vil...The necessity of the agricultural policy-based finance in terms of supporting the new village construction is analyzed: in the first place, the theoretical roots of agricultural policy-based finance supporting new village construction are "market failure" and "government intervention"; in the second place, the continual decline of agriculture and the "rural financial market failure" in recent years have become the objective evidence and historical mission for agricultural policy-based finance to support new village construction; in the third place, the combination of agricultural policy-based finance and new village construction is conducive to solving the "three agriculture" problems and facilitating the reform of new village construction. The feasibility of the support is analyzed: firstly, agricultural policy-based finance boasts the status and position of the "primary drive" in new village construction; secondly, the nation continuously deepens the reform of rural financial system and policy-based banks and strengthens the functions of Agricultural Development Bank, which provides policies for agricultural policy-based finance to support new village construction; thirdly, the 14 years' reform and development of Agricultural Development Bank and the eleventh five year plan lay sound practical basis for the support of agricultural policy-based finance to new village construction. Based on the necessity and feasibility, the following six aspects are analyzed to fully display the function of the "first engine" of agricultural policy-related finance to new village construction. Firstly, strengthening the credit and loan aid to grain and cotton and some other agricultural products in the circulation domain; secondly, strengthening the credit and loan aid to agricultural industrialization in processing field; thirdly, intensifying the credit and loan aid to agricultural comprehensive development, rural infrastructure construction, application and promotion of agricultural technology, agricultural production means and agricultural ecological construction; fourthly, intensifying the credit and loan aid to rural special group and regional development; fifthly, intensifying the credit and loan aid to agriculture and rural emergency response system and social security system; sixthly, strengthening the credit and loan aid to agriculture and the intermediary construction of rural financial services.展开更多
Background:We examine the signaling effect of borrowers’social media behavior,especially self-disclosure behavior,on the default probability of money borrowers on a peer-to-peer(P2P)lending site.Method:We use a uniqu...Background:We examine the signaling effect of borrowers’social media behavior,especially self-disclosure behavior,on the default probability of money borrowers on a peer-to-peer(P2P)lending site.Method:We use a unique dataset that combines loan data from a large P2P lending site with the borrower’s social media presence data from a popular social media site.Results:Through a natural experiment enabled by an instrument variable,we identify two forms of social media information that act as signals of borrowers’creditworthiness:(1)borrowers’choice to self-disclose their social media account to the P2P lending site,and(2)borrowers’social media behavior,such as their social network scope and social media engagement.Conclusion:This study offers new insights for screening borrowers in P2P lending and a novel usage of social media information.展开更多
The study analyzes the performance of bank-specific characteristics,macroeconomic indicators,and global factors to predict the bank lending in Turkey for the period 2002Q4–2019Q2.The objective of this study is first,...The study analyzes the performance of bank-specific characteristics,macroeconomic indicators,and global factors to predict the bank lending in Turkey for the period 2002Q4–2019Q2.The objective of this study is first,to clarify the possible nonlinear and nonparametric relationships between outstanding bank loans and bank-specific,macroeconomic,and global factors.Second,it aims to propose various machine learning algorithms that determine drivers of bank lending and benefits from the advantages of these techniques.The empirical findings indicate favorable evidence that the drivers of bank lending exhibit some nonlinearities.Additionally,partial dependence plots depict that numerous bank-specific characteristics and macroeconomic indicators tend to be important variables that influence bank lending behavior.The study’s findings have some policy implications for bank managers,regulatory authorities,and policymakers.展开更多
Previous studies indicate that individuals’default behaviors on online peer-to-peer(P2P)lending platforms greatly influence other borrowers’default intentions.However,the mechanism of this impact is not clear.Moreov...Previous studies indicate that individuals’default behaviors on online peer-to-peer(P2P)lending platforms greatly influence other borrowers’default intentions.However,the mechanism of this impact is not clear.Moreover,there is scarce research in regard to which factors influence the relationship between an individual’s default behavior and an observer’s default intention.These important questions are yet to be resolved;hence,we conducted two experiments using the scenario-based research method,focusing on Chinese online P2P lending platforms.Our results indicate that an individual’s default behavior can trigger an observer’s default intention as a result of the imperfect punitive measures as they currently exist on Chinese online P2P lending platforms.Both the observer’s moral disengagement level and pragmatic self-activation level serve as mediating variables.In situations where an observer knows an individual’s default behavior,the level of intimacy between the defaulter and observer positively affects the relationship between their default behavior and intention.The intimacy level also positively influences the relationship between the individual’s default behavior and the two mediator variables.Based on the findings,we provide management suggestions in the context of online P2P lending.Our study sets a foundation for future research to utilize other methods to extend the present research findings to other regions and domains.展开更多
This paper tells us briefly the background and aims of the fundation of IFAD.It points out that IFAD plays an important part in helping the development of agriculture and food production in developing countries,and in...This paper tells us briefly the background and aims of the fundation of IFAD.It points out that IFAD plays an important part in helping the development of agriculture and food production in developing countries,and in reducing the poverty conditions in the poorest countries.It tells us that IFAD has offered donation to China for 8 times,with a total amount reaching to 56.839 million dollars.With the development of the economy of China,IFAD has changed its lending financial policies to China from a highly beneficial policy to a moderate lending policy.The operation of the loan projects have greatly improved the living conditions and of the local and the conditions of agricultural production,promoting the improvement of economy,social stability,and enviroment.It discusses several lending patterns of IFAD China's rural financial projects.The government-leading model,which is represented by the IFAD financial lending loan.Market-oriented model of formal financial institutions,which is represented by IFAD Rural Credit Cooperatives,with market oriented.Government supporting as secondary model,which are dominated by IFAD Women's lending patterns and Village Development Fund lending model.In this paper,advantages and disadvantages of lending patterns are analyzed and evaluated.It discusses the development trend of IFAD financial lending patterns in terms of Rural Credit Cooperatives and a pattern which is community-oriented and farmers-benefited.展开更多
In view of the development problems of village banks,through introducing the concept of private relationship lending,the functions of soft information,the channels of village banks for collecting soft information,and ...In view of the development problems of village banks,through introducing the concept of private relationship lending,the functions of soft information,the channels of village banks for collecting soft information,and the private relationship lending of village banks under Chinese rural human environment of highlighting relationship while despising rationality are proved.According to the recognition standard of core competitive edge,it can be concluded that the core competitive edge of village banks is private relationship lending.In the first place,these kinds of small and medium-sized quarter banks have competitive advantages in launching private relationship lending;in the second place,the lending businesses of village banks based on soft information attracts small and medium clients;in the third place,the private relationship lending has realized the scale economy.Furthermore,the reasons why village banks can not display the core competitive edge have been analyzed:firstly,village banks have not found that private relationship lending is their core competitive edge;secondly,the internal motivation on establishing private relationship lending of village banks is insufficient;thirdly,village banks have not prepared well in developing private relationship lending;The relevant policies and countermeasures are put forward,including transforming idea and vigorously developing private relationship lending;intensifying training and improving the quality of personnel involved;strengthening supervision and avoiding the violation behaviors of personnel involved;emulating experiences and perfecting the private relationship lending mechanism of village banks.展开更多
Traditional Folk relations of debit and credit have existed for thousands of years in Chinese society. In the rapidly develop of the context of mobile internet and social network, the borrowing that relies on the rela...Traditional Folk relations of debit and credit have existed for thousands of years in Chinese society. In the rapidly develop of the context of mobile internet and social network, the borrowing that relies on the relationship among people is not just a financial domain scope discussion topic. In the rapidly developing Chinese mobile Internet, a new anonymous mechanism which is based on interpersonal credit extension and evaluation ultimately form borrowing is continuously formed.?In this paper, the author researches and analyzes on what is relationship lending mechanism, the basic operation modes of relationship lending mechanism, a part of theoretical supporting and values.展开更多
文摘In the developing world,vulnerable communities often lack access to regular income sources to cope with unforeseen events.Recent advancements in financial technology have enabled microcredit to be delivered via digital platforms.Although digital credit may quicken remote access to consumer credit without the need for collateral,little is known about its contribution to the welfare of underserved communities.This study examines the effects of local digital lending development on deprivation and explores the implications of these effects on rural inhabitants.The results show a negative association between local digital lending development and food deprivation on one hand and health deprivation on the other.The evidence suggests that local digital lending development can reduce the probability of food and health deprivation.Furthermore,the evidence reveals that inhabitants of rural communities benefit more from digital lending development.This study recommends the decentralization of financial inclusion policies as a pathway to promote digital lending at the local level.
基金was the Key Scientific Research Project of Colleges and Universities in Henan Province“Research on the key role of Investment in the Optimization and upgrading of Industrial structure in Henan Province”(22A790014)National scientific research project cultivation fund project"Research on the Endogenous Mechanism,Performance Evaluation and Optimization Path of Science and Technology Finance Boosting China’s High quality Economic Development"(XKPY-2022030).
文摘In the last decade,the risk evaluation and the investment decision are among the most prominent issues of efficient project management.Especially,the innovative financial sources could have some specific risk appetite due to the increasing return of invest-ment.Hence,it is important to uncover the risk factors of fintech investments and investigate the possible impacts with an integrated approach to the strategic priorities of fintech lending.Accordingly,this study aims to analyze a unique risk set and the stra-tegic priorities of fintech lending for clean energy projects.The most important contri-butions to the literature can be listed as to construct an impact-direction map of risk-based strategic priorities for fintech lending in clean energy projects and to measure the possible influences by using a hybrid decision making system with golden cut and bipolar q-rung orthopair fuzzy sets.The extension of multi stepwise weight assessment ratio analysis(M-SWARA)is applied for weighting the risk factors of fintech lending.The extension of elimination and choice translating reality(ELECTRE)is employed for con-structing and ranking the risk-based strategic priorities for clean energy projects.In this process,data is obtained with the evaluation of three different decision makers.The main superiority of the proposed model by comparing with the previous models in the literature is that significant improvements are made to the classical SWARA method so that a new technique is created with the name of M-SWARA.Hence,the causality analysis between the criteria can also be performed in this proposed model.The find-ings demonstrate that security is the most critical risk factor for fintech lending system.Moreover,volume is found as the most critical risk-based strategy for fintech lending.In this context,fintech companies need to take some precautions to effectively manage the security risk.For this purpose,the main risks to information technologies need to be clearly identified.Next,control steps should be put for these risks to be managed properly.Furthermore,it has been determined that the most appropriate strategy to increase the success of the fintech lending system is to increase the number of financi-ers integrated into the system.Within this framework,the platform should be secure and profitable to persuade financiers.
基金supported by the National Natural Science Foundation of China under Grant No.71872020 and No.71402008the Corporate Finance and Innovation Development Research Center in BUPT
文摘This paper focuses on how to use consortium blockchain to improve the regulation of peer-to-peer(P2 P) lending market. The partial decentralized consortium blockchain with limited pre-set nodes can well improve transparency and security, which is suitable for financial regulation. Considering irregularities of the P2P lending market, the Hyperledger-based Peer-to-Peer Lending System(HyperP2PLS) is proposed. First elaborate the application scenario and business logic of the system, where a national P2P Lending Trading Center will be established to integrate all transactions and information of P2P lending market. Then construct the system architecture consisting of the blockchain network, HTTP server, and applications. The algorithm of implementation process and the web application for users have been well illustrated. The performance analysis shows that HyperP2PLS can guarantee the reliability, safety, transparency and efficiency.
文摘In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based financial technologies(Fintech)have been identified as important disruptive driving forces for this paradigm shift.In this paper,we take an information economics perspective to investigate how big data affects the transformation of the lending industry.By identifying how signaling and search costs are reduced by big data analytics for credit risk management of P2P lending,we discuss how information asymmetry is reduced in the big data era.Rooted in the lending business,we propose a theory on the economics of big data and outline a number of research opportunities and challenging issues.
文摘Fintechs are believed to help expand credit access to underserved consumers without taking on additional risk.We compare the performance efficiency of LendingClub’s unsecured personal loans with similar loans originated by banks.Using stochastic frontier estimation,we decompose the observed nonperforming loan(NPL)ratio into three components:the best-practice minimum NPL ratio,the excess NPL ratio,and a statistical noise,the former two of which reflect the lender’s inherent credit risk and lending inefficiency,respectively.As of 2013 and 2016,we find that the higher NPL ratios at the largest banks are driven by inherent credit risk,rather than lending inefficiency.Smaller banks are less efficient.In addition,as of 2013,LendingClub’s observed NPL ratio and lending efficiency were in line with banks with similar lending volume.However,its lending efficiency improved significantly from 2013 to 2016.As of 2016,LendingClub’s performance resembled the largest banks–consistent with an argument that its increased use of alternative data and AI/ML may have improved its credit risk assessment capacity above and beyond its peers using traditional approaches.Furthermore,we also investigate capital market incentives for lenders to take credit risk.Market value regression using the NPL ratio suggests that market discipline provides incentives to make less risky consumer loans.However,the regression using two decomposed components(inherent credit risk and lending inefficiency)tells a deeper underlying story:market value is significantly positively related to inherent credit risk at most banks,whereas it is significantly negatively related to lending inefficiency at most banks.Market discipline appears to reward exposure to inherent credit risk and punish inefficient lending.
基金the startup fund from City University of Hong Kong.
文摘Background:Prosocial crowdfunding helps the underprivileged obtain non-profitseeking loans from multitudinous lenders.Some platforms introduce teamcompetition to motivate member participation and may thus induce team rivalry.Methods:We investigate how team rivalry affects lending decisions using data fromKiva.org.We argue that a rivalry relationship may engage teams to compete directlyagainst rivals by lending to the same project or prevent them from doing sobecause they intend not to cooperate.Result:We find that a team is less likely to lend to a project that has receivedfunding from its rival team,suggesting that rival teams tend to avoid cooperation.Conclusions:We discuss the implications of our findings for crowdfundingand competition-based motivation mechanisms in general.
文摘The necessity of the agricultural policy-based finance in terms of supporting the new village construction is analyzed: in the first place, the theoretical roots of agricultural policy-based finance supporting new village construction are "market failure" and "government intervention"; in the second place, the continual decline of agriculture and the "rural financial market failure" in recent years have become the objective evidence and historical mission for agricultural policy-based finance to support new village construction; in the third place, the combination of agricultural policy-based finance and new village construction is conducive to solving the "three agriculture" problems and facilitating the reform of new village construction. The feasibility of the support is analyzed: firstly, agricultural policy-based finance boasts the status and position of the "primary drive" in new village construction; secondly, the nation continuously deepens the reform of rural financial system and policy-based banks and strengthens the functions of Agricultural Development Bank, which provides policies for agricultural policy-based finance to support new village construction; thirdly, the 14 years' reform and development of Agricultural Development Bank and the eleventh five year plan lay sound practical basis for the support of agricultural policy-based finance to new village construction. Based on the necessity and feasibility, the following six aspects are analyzed to fully display the function of the "first engine" of agricultural policy-related finance to new village construction. Firstly, strengthening the credit and loan aid to grain and cotton and some other agricultural products in the circulation domain; secondly, strengthening the credit and loan aid to agricultural industrialization in processing field; thirdly, intensifying the credit and loan aid to agricultural comprehensive development, rural infrastructure construction, application and promotion of agricultural technology, agricultural production means and agricultural ecological construction; fourthly, intensifying the credit and loan aid to rural special group and regional development; fifthly, intensifying the credit and loan aid to agriculture and rural emergency response system and social security system; sixthly, strengthening the credit and loan aid to agriculture and the intermediary construction of rural financial services.
基金Juan Feng would like to acknowledge GRF(General Research Fund)9042133City U SRG grant 7004566Bin Gu would like to acknowledge National Natural Science Foundation of China[Grant 71328102].
文摘Background:We examine the signaling effect of borrowers’social media behavior,especially self-disclosure behavior,on the default probability of money borrowers on a peer-to-peer(P2P)lending site.Method:We use a unique dataset that combines loan data from a large P2P lending site with the borrower’s social media presence data from a popular social media site.Results:Through a natural experiment enabled by an instrument variable,we identify two forms of social media information that act as signals of borrowers’creditworthiness:(1)borrowers’choice to self-disclose their social media account to the P2P lending site,and(2)borrowers’social media behavior,such as their social network scope and social media engagement.Conclusion:This study offers new insights for screening borrowers in P2P lending and a novel usage of social media information.
文摘The study analyzes the performance of bank-specific characteristics,macroeconomic indicators,and global factors to predict the bank lending in Turkey for the period 2002Q4–2019Q2.The objective of this study is first,to clarify the possible nonlinear and nonparametric relationships between outstanding bank loans and bank-specific,macroeconomic,and global factors.Second,it aims to propose various machine learning algorithms that determine drivers of bank lending and benefits from the advantages of these techniques.The empirical findings indicate favorable evidence that the drivers of bank lending exhibit some nonlinearities.Additionally,partial dependence plots depict that numerous bank-specific characteristics and macroeconomic indicators tend to be important variables that influence bank lending behavior.The study’s findings have some policy implications for bank managers,regulatory authorities,and policymakers.
基金This study was financed by Southwestern University of Finance and Economics(grand number JBK2002028)National Natural Science Foundation of China(grant numbers G0302/71403221,71764026)Sichuan Science and Technology Bureau(grand number 2017ZR0240).
文摘Previous studies indicate that individuals’default behaviors on online peer-to-peer(P2P)lending platforms greatly influence other borrowers’default intentions.However,the mechanism of this impact is not clear.Moreover,there is scarce research in regard to which factors influence the relationship between an individual’s default behavior and an observer’s default intention.These important questions are yet to be resolved;hence,we conducted two experiments using the scenario-based research method,focusing on Chinese online P2P lending platforms.Our results indicate that an individual’s default behavior can trigger an observer’s default intention as a result of the imperfect punitive measures as they currently exist on Chinese online P2P lending platforms.Both the observer’s moral disengagement level and pragmatic self-activation level serve as mediating variables.In situations where an observer knows an individual’s default behavior,the level of intimacy between the defaulter and observer positively affects the relationship between their default behavior and intention.The intimacy level also positively influences the relationship between the individual’s default behavior and the two mediator variables.Based on the findings,we provide management suggestions in the context of online P2P lending.Our study sets a foundation for future research to utilize other methods to extend the present research findings to other regions and domains.
文摘This paper tells us briefly the background and aims of the fundation of IFAD.It points out that IFAD plays an important part in helping the development of agriculture and food production in developing countries,and in reducing the poverty conditions in the poorest countries.It tells us that IFAD has offered donation to China for 8 times,with a total amount reaching to 56.839 million dollars.With the development of the economy of China,IFAD has changed its lending financial policies to China from a highly beneficial policy to a moderate lending policy.The operation of the loan projects have greatly improved the living conditions and of the local and the conditions of agricultural production,promoting the improvement of economy,social stability,and enviroment.It discusses several lending patterns of IFAD China's rural financial projects.The government-leading model,which is represented by the IFAD financial lending loan.Market-oriented model of formal financial institutions,which is represented by IFAD Rural Credit Cooperatives,with market oriented.Government supporting as secondary model,which are dominated by IFAD Women's lending patterns and Village Development Fund lending model.In this paper,advantages and disadvantages of lending patterns are analyzed and evaluated.It discusses the development trend of IFAD financial lending patterns in terms of Rural Credit Cooperatives and a pattern which is community-oriented and farmers-benefited.
基金Supported by National Social Science Foundation(10BJY057)2010 Program of the Eleventh-Five Plan of the Development of Philosophy and Social Science in Guangzhou(10Y49)
文摘In view of the development problems of village banks,through introducing the concept of private relationship lending,the functions of soft information,the channels of village banks for collecting soft information,and the private relationship lending of village banks under Chinese rural human environment of highlighting relationship while despising rationality are proved.According to the recognition standard of core competitive edge,it can be concluded that the core competitive edge of village banks is private relationship lending.In the first place,these kinds of small and medium-sized quarter banks have competitive advantages in launching private relationship lending;in the second place,the lending businesses of village banks based on soft information attracts small and medium clients;in the third place,the private relationship lending has realized the scale economy.Furthermore,the reasons why village banks can not display the core competitive edge have been analyzed:firstly,village banks have not found that private relationship lending is their core competitive edge;secondly,the internal motivation on establishing private relationship lending of village banks is insufficient;thirdly,village banks have not prepared well in developing private relationship lending;The relevant policies and countermeasures are put forward,including transforming idea and vigorously developing private relationship lending;intensifying training and improving the quality of personnel involved;strengthening supervision and avoiding the violation behaviors of personnel involved;emulating experiences and perfecting the private relationship lending mechanism of village banks.
文摘Traditional Folk relations of debit and credit have existed for thousands of years in Chinese society. In the rapidly develop of the context of mobile internet and social network, the borrowing that relies on the relationship among people is not just a financial domain scope discussion topic. In the rapidly developing Chinese mobile Internet, a new anonymous mechanism which is based on interpersonal credit extension and evaluation ultimately form borrowing is continuously formed.?In this paper, the author researches and analyzes on what is relationship lending mechanism, the basic operation modes of relationship lending mechanism, a part of theoretical supporting and values.