The effects of person-organization fit on lending behaviors:Empirical evidence from Kiva

Donation-based crowdfunding,as part of impact investment,plays a vital role in promoting economic development and alleviating poverty.In order to enhance the lender's enthusiasm for lending behavior,some platforms,for example Kiva,have introduced groups to facilitate lending.This study examines how the group environment can affect the lenders’behaviors in crowdfunding.It has been found that lenders who join groups contribute 1.2 more loans(about$30-$42)per month than those who do not,but the theoretical mechanism of these differences is unclear.To understand in depth how the group environment affects lending behaviors,we introduce and develop the PersonOrganization fit theory and Free-rider theory in this study.Combining machine-learning techniques with empirical analysis,the results show that the matching degree of motivation between group and lender has a positive effect on the lender behavior,i.e.,lending to loans,and this relationship is weakened by free-riding in large groups.In addition,the group openness can have different effects on lenders of different group sizes.Our research enriches the existing crowdfunding literature and fills the gap in the research on new lending models in crowdfunding,and it will also be useful for crowdfunding platforms in setting the rules for building groups.

The effect of equity structure and influence factors on China’s banking cyclical behavior and monetary policy

Several years ago,there were crises on mortgage resulted in a serious thread on financial systems in the United States and other developed and developing countries.However,some scholars are of the view that the procyclical nature of the bank lead to this serious incident.In this study,we focus on China’s bank lending behavior whether it falls within the cyclicality of the banking practices.The study realizes that credit distributions are still the managerial way of for transferring government monetary policy.It is not however the actual reasons behind the China’s bank counter-cyclical lending.State-owned financial firms within higher ownership are of no doubt of likely to be counter cyclical.Some school of thought are with the view that compared to developed countries,state-owned banks play a major decisions in other developing countries such as Brazil,and they believe that the well performances of this nations are adhering to the financial crises that are highly related to the state-owned banks.For example in China,commercial banks are the main embodiment of China’s financial institutions.It is believed that most of these banks have very strong support by the central government and that makes clients pay more attention to their well-being thus implementing the states macroeconomic policies and resisting the financial crises.The study based on other existing researches will take the government monetary policy and commercial banks equity structure into a frame work and under search how they influence the cyclical China’s commercial bank lending behavior and project other possible effects for regulatory bodies to take it into account when making a decision.