Document Actions
Citation and Metadata
Recommended citation
Berger SC, Gleisner F (2009). Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending. BuR - Business Research, Vol. 2, Iss. 1, pp. 39-65, URN: urn:nbn:de:0009-20-19400
Download Citation
Endnote
%0 Journal Article %T Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending %A Berger, C. Sven %A Gleisner, Fabian %J BuR - Business Research %D 2009 %V 2 %N 1 %@ 1866-8658 %F berger2009 %X 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. %L 330 %K asymmetric information %K electronic markets %K intermediation %K social lending %U http://nbn-resolving.de/urn:nbn:de:0009-20-19400 %P 39-65
Bibtex
@Article{berger2009,
author = "Berger, C. Sven
and Gleisner, Fabian",
title = "Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending",
journal = "BuR - Business Research",
year = "2009",
volume = "2",
number = "1",
pages = "39--65",
keywords = "asymmetric information",
keywords = "electronic markets",
keywords = "intermediation",
keywords = "social lending",
abstract = "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.",
issn = "1866-8658",
url = "http://nbn-resolving.de/urn:nbn:de:0009-20-19400"
}
RIS
TY - JOUR AU - Berger, C. Sven AU - Gleisner, Fabian PY - 2009// TI - Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending JO - BuR - Business Research SP - 39 EP - 65 VL - 2 IS - 1 KW - asymmetric information KW - electronic markets KW - intermediation KW - social lending N2 - 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. SN - 1866-8658 UR - http://nbn-resolving.de/urn:nbn:de:0009-20-19400 ID - berger2009 ER -
Wordbib
<?xml version="1.0" encoding="UTF-8"?> <b:Sources SelectedStyle="" xmlns:b="http://schemas.openxmlformats.org/officeDocument/2006/bibliography" xmlns="http://schemas.openxmlformats.org/officeDocument/2006/bibliography" > <b:Source> <b:Tag>berger2009</b:Tag> <b:SourceType>ArticleInAPeriodical</b:SourceType> <b:Year>2009</b:Year> <b:PeriodicalName>BuR - Business Research</b:PeriodicalName> <b:Volume>2</b:Volume> <b:Issue>1</b:Issue> <b:Pages>39-65</b:Pages> <b:Author> <b:Author><b:NameList> <b:Person><b:Last>Berger</b:Last><b:First>C.</b:First><b:Middle>Sven</b:Middle></b:Person> <b:Person><b:Last>Gleisner</b:Last><b:First>Fabian</b:First></b:Person> </b:NameList></b:Author> </b:Author> <b:Title>Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending</b:Title> <b:Comments>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.</b:Comments> </b:Source> </b:Sources>
ISI
PT Journal AU Berger, CS Gleisner, F TI Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending SO BuR - Business Research PY 2009 BP 39 EP 65 VL 2 IS 1 DE asymmetric information; electronic markets; intermediation; social lending AB 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. ER
Mods
<mods>
<titleInfo>
<title>Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending</title>
</titleInfo>
<name type="personal">
<namePart type="family">Berger</namePart>
<namePart type="given">Sven C.</namePart>
</name>
<name type="personal">
<namePart type="family">Gleisner</namePart>
<namePart type="given">Fabian</namePart>
</name>
<abstract>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.</abstract>
<subject>
<topic>asymmetric information</topic>
<topic>electronic markets</topic>
<topic>intermediation</topic>
<topic>social lending</topic>
</subject>
<classification authority="ddc">330</classification>
<relatedItem type="host">
<genre authority="marcgt">periodical</genre>
<genre>academic journal</genre>
<titleInfo>
<title>BuR - Business Research</title>
</titleInfo>
<part>
<detail type="volume">
<number>2</number>
</detail>
<detail type="issue">
<number>1</number>
</detail>
<date>2009</date>
<extent unit="page">
<start>39</start>
<end>65</end>
</extent>
</part>
</relatedItem>
<identifier type="issn">1866-8658</identifier>
<identifier type="urn">urn:nbn:de:0009-20-19400</identifier>
<identifier type="uri">http://nbn-resolving.de/urn:nbn:de:0009-20-19400</identifier>
<identifier type="citekey">berger2009</identifier>
</mods>
Full Metadata
| Bibliographic Citation | BuR - Business Research, Vol. 2, Iss. 1, pp. 39-65 |
|---|---|
| Title | Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending (eng) |
| Author | Sven C. Berger, Fabian Gleisner |
| Language | eng |
| Abstract | 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. |
| Subject | asymmetric information, electronic markets, intermediation, social lending |
| DDC | 330 |
| Rights | authorcontract |
| URN: | urn:nbn:de:0009-20-19400 |
