COVID‑19 pandemic risk and probability of loan default:evidence from marketplace lending market

As the COVID-19 pandemic adversely affects the financial markets,a better understanding of the lending dynamics of a successful marketplace is necessary under the conditions of financial distress.Using the loan book database of Mintos(Latvia)and employing logit regression method,we provide evidence of the pandemic-induced exposure to default risk in the marketplace lending market.Our analysis indicates that the probability of default increases from 0.056 in the pre-pandemic period to 0.079 in the post-pandemic period.COVID-19 pandemic has a significant impact on default risk during May and June of 2020.We also find that the magnitude of the impact of COVID-19 risk is higher for borrowers with lower credit ratings and in countries with low levels of FinTech adoption.Our main findings are robust to sample selection bias allowing for a better understanding of and quantifying risks related to FinTech loans during the pandemic and periods of overall economic distress.

Renewal Design of Marketplace Culture Spaces in Traditional Blocks Based on Catalyst Theory: A Case Study of Pengzhen Town in Shuangliu District of Chengdu

In this study, three kinds of spaces with different marketplace atmospheres, namely, the tea-drinking space, the commercial space and the courtyard space, are created with the aid of the marketplace culture characteristics of the local blocks in Pengzhen Town and the catalyst theory, so as to achieve the purpose of activating the traditional blocks in Pengzhen Town. The design takes the marketplace culture as the entry point and the most vigorous points as the catalyst points to create a living space with strong marketplace flavor, thereby activating the economic and social activities of the traditional block and promotes the sustainable renewal of the cultural space.

The global marketplace that is Intertextile Shanghai Apparel Fabrics returns

The global apparel fabrics and accessories industry is gearing up for its key spring summit–one of the trade fair highlights of the year where the entire sector gathers to do business,discover the latest fashion trends,find new innovations and discuss what’s in store for the year ahead.

A study on the form contemporary developments of Tabriz leather and shoe Bazaar(marketplace)from the late Qajar to current period

Bazaars are considered essential components of a society’s economy and significant features in the urban context of cities,which have emerged based on exchanging goods and meeting people’s needs.Since the late Qajar period,amidst the rapid changes resulting from interaction with modernization,the form of Tabriz Grand Bazaar has undergone significant changes.The research aims to explain the contemporary transformations of marketplace form in the leather and shoe sectors.The objectives aim to elucidate the contemporary physical,functional,and sementic changes and propose strategies.The research method is qualitative,with a phenomenological approach.The results indicate that the Bazaar has lost some physical and sementic functions.Despite providing goods,it has failed to meet the public’s demands because of eliminating production workshops by changing the productive function to service-oriented and the size and shape of spaces.The decline of religious activities is also one reason for the diminished sementic dimension.Regarding functional and physical aspects,some proposed solutions include preserving the authenticity of the spaces and utilizing suitable Functions with the dominant architectural style.Regarding sementic characteristics,suggestions include enhancing the sense of identity.

Toward a research framework to conceptualize data as a factor of production:The data marketplace perspective

The widespread use of machine learning techniques and artificial intelligence algorithms has highlighted the strategic role of data.To acquire data for training algorithms and eventually empowering the digital transformation,data marketplaces are often required to support and coordinate cross-organizational data transactions.However,the prior industry practices have suggested that the transaction costs in the data marketplaces are severely high,and the supporting infrastructure is far from mature.This paper proposes a data attributes-affected data exchange(DADE)conceptual model to understand the challenges and directions for developing data marketplaces.Specifically,our model framework is built upon two dimensions,data lifecycle maturity and data asset specificity.Based on the DADE model,we propose four approaches for developing data marketplaces and discuss future research directions with an overview of computational methods as potential technical solutions.

Factors attracting Chinese Generation Y in the smartphone application marketplace

Smartphone applications （apps） are becoming in- creasingly popular all over the world, particularly in the Chi- nese Generation Y population; however, surprisingly, only a small number of studies on app factors valued by this im- portant group have been conducted. Because the competition among app developers is increasing, app factors that attract users＇ attention are worth studying for sales promotion. This paper examines these factors through two separate studies. In the first study, i.e., Experiment 1, which consists of a survey, perceptual rating and verbal protocol methods are employed, and 90 randomly selected app websites are rated by 169 expe- rienced smartphone users according to app attraction. Twelve of the most rated apps （six highest rated and six lowest rated） are selected for further investigation, and 11 influential fac- tors that Generation Y members value are listed. A second study, i.e., Experiment 2, is conducted using the most and least rated app websites from Experiment 1, and eye tracking and verbal protocol methods are used. The eye movements of 45 participants are tracked while browsing these websites, providing evidence about what attracts these users＇ attention and the order in which the app components are viewed. The results of these two studies suggest that Chinese Generation Y is a content-centric group when they browse the smart- phone app marketplace. Icon, screenshot, price, rating, and name are the dominant and indispensable factors that influ- ence purchase intentions, among which icon and screenshot should be meticulously designed. Price is another key fac- tor that drives Chinese Generation Y＇s attention. The recom- mended apps are the least dominant element. Design sugges- tions for app websites are also proposed. This research has important implications.

Verification and Validation for data marketplaces via a blockchain and smart contracts

Actual challenges with data in physical infrastructure include:1)the adversity of its velocity based on access and retrieval,thus integration;2)its value as its intrinsic quality;3)its extensive volume with a limited variety in terms of systems;and finally,4)its veracity,as data can be modified to obtain an economical advantage.Physical infrastructure design based on Agile project management and minimum viable products provides benefits against the traditional waterfall method.Agile supports an early return on investment that promotes circular reinvesting while making the product more adaptable to variable social-economical environments.However,Agile also presents inherent issues due to its iterative approach.Furthermore,project information requires an efficient record of the aims,requirements,and governance not only for the investors,owners,or users but also to keep evidence in future health&safety and other statutory compliance.In order to address these issues,this article presents a Validation and Verification(V&V)model for data marketplaces with a hierarchical process;each data V&V stage provides a layer of data abstraction,value-added services,and authenticity based on Artificial Intelligence(AI).In addition,this proposed solution applies Distributed Ledger Technology(DLT)for a decentralised approach where each user keeps and maintains the data within a ledger.The presented model is validated in real data marketplace applications:1)live data for the Newcastle Urban Observatory Smart City Project,where data are collected from sensors embedded within the smart city via APIs;2)static data for University College London(UCL)—Real Estate—PEARL Project,where different project users and stakeholders introduce data into a Project Information Model(PIM).

National and Cultural Differences in the C2C Electronic Marketplace: An Investigation into Transactional Behaviors of Chinese, American, and French Consumers on eBay

With the Internet connecting every part of the world, electronic marketplaces provide a world-wide transaction platform for global businesses. However, consumers from different countries demonstrate distinct purchasing behaviors online. This study uses eBay as the consumer-to-consumer electronic marketplace to investigate the eBay mechanisms and purchasing habits of consumers from the United States, France, and China to evaluate the effects of cultural and national differences on purchasing habits. This study uses data on national transactions and reputation profiles of sellers gathered from eBay.com, eBay.fr, and eBay.com.cn, including both cross-sectional data and panel data to provide a comprehensive comparison of cultural behavior in the trading process as well as the influence of eBay＇s reputation management system on online pricing in these three countries. Significant differences confirm that purchasing behavior differs in various national consumer-to-consumer electronic marketplaces and the importance of cultural behavioral patterns.

What’s the health of the Business Aviation marketplace heading into Q4?

Depending upon the data,the so-called Business Aviation’recovery’has now been underway for the past nine to 10 years,through ups and downs,and twists and turns.Good news:new business jet sales have been quite robust through the first half of 2019,with OEMs recording book-to-bills above 1.0 and finally beginning to replenish backlogs,which had been slowly declining over the past several years.

Should competing sellers adopt the data analytics service to enable product improvement in online marketplace

More and more marketplace platforms choose to use the data gathered from consumers(e.g.,customer search terms,demographics)to provide a data analytics service for third-party sellers,both encouraging innovations and improving the operations of the latter.Through adopting the data analytics service,a seller can enhance its competitiveness by improving the quality of its products when there is more than one seller offering substitutes.This study develops a game-theoretic model to characterize a scenario with a marketplace platform and two competing sellers that sell substitutable products and decide whether to adopt the data analytics service provided by the platform.Then,we find that a seller's decision of whether or not to purchase the service depends on the competitor's decision and the two sellers'absorptive capacities of knowledge.Furthermore,a seller can benefit from adopting the data analytics service only if the seller has a high absorptive capacity,which can help increase product quality.When only one seller adopts,the platform and competing sellers can benefit from the adoption if this seller's absorptive capacity is high and the other's is moderate.The sellers'interests and social welfare can be aligned unless both sellers'absorptive capacities are low or high.

Blockchain-Based Secure and Fair IoT Data Trading System with Bilateral Authorization

These days,data is regarded as a valuable asset in the era of the data economy,which demands a trading platform for buying and selling data.However,online data trading poses challenges in terms of security and fairness because the seller and the buyer may not fully trust each other.Therefore,in this paper,a blockchain-based secure and fair data trading system is proposed by taking advantage of the smart contract and matchmaking encryption.The proposed system enables bilateral authorization,where data trading between a seller and a buyer is accomplished only if their policies,required by each other,are satisfied simultaneously.This can be achieved by exploiting the security features of the matchmaking encryption.To guarantee non-repudiation and fairness between trading parties,the proposed system leverages a smart contract to ensure that the parties honestly carry out the data trading protocol.However,the smart contract in the proposed system does not include complex cryptographic operations for the efficiency of onchain processes.Instead,these operations are carried out by off-chain parties and their results are used as input for the on-chain procedure.The system also uses an arbitration protocol to resolve disputes based on the trading proof recorded on the blockchain.The performance of the protocol is evaluated in terms of off-chain computation overhead and on-chain gas consumption.The results of the experiments demonstrate that the proposed protocols can enable the implementation of a cost-effective data trading system.

Consumer lending efficiency:commercial banks versus a fintech lender

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.

Big tech,big data and the new world of digital health

This commentary shows the exponential growth of digital health and the accompanying explosion of health data.It discusses three major shifts in the global health landscape.The first will be the move of the big tech companies into healthcare,the second will be the monetization of consumer data and the creation of health data marketplaces;and the third will be the growth of Asia as a leader in digital health.Big tech already has the advantage of a massive consiuner base,data and analytics which enable them to understand consumers;and complementary technologies,like wearables,that will drive the consumerization of healthcare.This expansion can happen quickly and already is creating challenges for regulators as they try to catch up.The vast volumes of data and the ability of technology such as blockchain to enable data owners to monetize their data,will lead to the development of health data marketplaces,which can connect and monetize data for data owners and make it available for scientific discovery.The developments in self-sovereign identity,will make it possible for individuals to monetize their health data in the future.Finally,we see the emergence of Asia as a powerhouse for the digital health of the future,with vast populations,mobile technology and increasing adoption of wearable devices.Consumer focused health care driven by data will change the institutional models of the past.

从淘宝和日本乐天对比看淘宝网的电子商务模式创新

电子商务模式指在网络环境中基于一定技术基础的商务运作方式和盈利模式,是电子商务活动能否顺利展开的关键。淘宝网起步晚于日本的乐天网,其商务模式可以说是仿照了后者模式。但是,中国电子商务市场环境上的差距制约了上述模式在中国落地并发挥效力。淘宝网成功之处在于利用进步变化中的情报信息技术,对所导入的商务模式进行不断的优化和创新,并形成其独有的结构和核心优势。

Constructing Product Ontologies with an Improved Conceptual Clustering Algorithm

In a distributed eMarketplace, recommended product ontologies are required for trading between buyers and sellers. Conceptual clustering can be employed to build dynamic recommended product ontologies. Traditional methods of conceptual clustering (e.g. COBWEB or Cluster/2) do not take heterogeneous attributes of a concept into account. Moreover, the result of these methods is clusters other than recommended concepts. A center recommendation clustering algorithm is provided. According to the values of heterogeneous attributes, recommended product names can be selected at the clusters, which are produced by this algorithm. This algorithm can also create the hierarchical relations between product names. The definitions of product names given by all participants are collected in a distributed eMarketplace. Recommended product ontologies are built. These ontologies include relations and definitions of product names, which come from different participants in the distributed eMarketplace. Finally a case is given to illustrate this method. The result shows that this method is feasible.

Place Reconstruction in the Renovation of Old Communities:A Case Study of Renovation Design of Caojiaxiang Community in Chengdu City,China

In the renovation of old communities,it is important to explore ways of continuing regional cultural context,realizing harmonious regeneration of residential functions and cultural,commercial benefits when the community environment is optimized.Taking the renovation design of Caojiaxiang Community in Chengdu City,Sichuan Province for example,we studied the utilization of marketplace culture resources in the place reconstruction of Caojiaxiang Community, summarized place reconstruction concepts and methods for the renovation of old communities,to provide valuable suggestions for the development of old communities.

Health Care System in Portugal for People with Motor Problems

Purpose: From a social and labor inclusion perspective, the article presents a digital prototype conceptualized to provide a “Diagnostic Page”, which delivers various prescribers and suppliers of support products that mitigate the problems of the respective patients. It also provides a “Patient Card Page”, where all the information about financing the respective products is placed, as well as all the documents likely to be needed for the commercial transactions to be carried out by all the parties involved. It also aims to provide a digital medium to grow a community in this niche market. In the action research methodology approach, the prototype was taken to funding competitions and conferences, where interviews and surveys were carried out, and a number of suggestions were collected on the type of platform to consider in order to respond to the concerns and needs of end users, such as patients, prescribers, suppliers and associations. Methods: The digital platform where the system is hosted uses algorithms that, on the diagnostic page, consider keywords used by patients and return a series of prescribers and suppliers of support products, in which the corresponding percentage of attenuation is taken into account and the best solution found to overcome the level of difficulty presented by the respective patients is delivered. Results and Conclusions: It is hoped that, with this platform, people with motor problems will be able to obtain their diagnosis instantly, through the algorithm implemented, and that they will immediately be provided with a series of prescribers, suppliers and support products best suited to their needs, as well as all the information or conditions necessary to purchase or finance them. On the other hand, prescribers, suppliers and associations have an online platform where they can offer their consultations, products and other support as freelancers who are part of a community.

Spatially enabling Australia-the next decade

A strategy for the development of the Australian spatial information industry called‘Spatially Enabling Australia’has recently been developed by the Cooperative Research Centre for Spatial Information.It comprises three fundamental research programs and an integrated applications program.Research Program 1,‘Positioning,’underpins a full framework of continuous operating reference stations to ultimately enable all of continental Australia to be capable of realtime precise positioning services based on global navigation satellite systems.Research Program 2,‘Automated Spatial Information Generation,’addresses complex processing of multiple remote sensing sources.Research Program 3,‘Spatial Infrastructures,’helps form the foundation for development of an Australian Spatial Marketplace that will make accessible vast amounts of government held data under a new licensing and access regime which supports combination with user-generated content from the mass market.The three core programs are integrated with Program 4,‘Applications,’to support users from the Health,Defense and Security,Energy and Utilities,Urban Development,and Agriculture-Natural Resources-Climate Change sectors.Program 4 drives outputs from the three core research programs in sector-specific deployments for high impact.This will see a rapid acceleration of the use and value adding of information products and services that utilize spatial information.There are considerable research and development challenges that must be met in order to achieve the strategic outcomes.

Clothes Make the Man

Li Pei went to the online marketplace Taobao.com on April 5 to check on the delivery of clothes she had bought from Etam, but was shocked to find the French fashion brand’s shop had gone offline without any prior notice. It seemed to be a delayed April Fool’s joke, except that so far, no official announce-ment has been made as Etam stores in many shopping malls across the country are also reportedly to close due to poor performance.

What’s the Market Impact of Gulfstream’s G700?

Questions of how Gulfstream would respond to Bombardier’s in development(now in production)Global 7500 has hung in the air for some time,and the announcement of the G700came as no surprise to many."This is an aircraft that the marketplace was expecting."Rolland Vincent says.