3,191 research outputs found
Women and Trade: Gender\u27s Impact on Trade Finance and Fintech
Woman-owned firms engage differently with finance for trade. The barriers they face in starting and running a business are well-known. Yet, this offers little insight into how they finance their business once globalized. Surveys indicate that finance is often the primary barrier to trade. We seek to deepen and modernize this finding by using a unique data set to explore the patterns of financial access exhibited by woman-owned exporting firms. We show that women face two levels of exclusion in access to finance—access to basic finance and access to trade finance. The latter is driven by characteristics common to firms owned by women. Also, in line with existing work, we show that woman-owned firms tend to turn to informal finance as an alternative more than their male counterparts. However, we also show that women are more likely to adopt fintech as a financial solution than men. This suggests that policies aimed at incentivizing banks to lend more to women may not be solving the right problem
People-to-People Lending: The Emerging e-Commerce Transformation of a Financial Market
This paper provides an overview of the concept of people-to-people (P2P) lending, a relatively new e-commerce phenomenon that has the potential to radically change the structure of the loan segment of the financial industry. P2P lending creates a marketplace of individuals and a social fabric through which these individuals interact. It provides efficient information transfer, thus perhaps creating more perfect markets. P2P lending requires information systems support to make it function, and to provide a social network mechanism that may be crucial for its success. We discuss different P2P lending marketplace models, and how information systems support the creation and management of these new marketplaces, and how they support the individuals involved. We conclude by providing some important research questions and directions, and issues for which further investigation is called
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ReQwip : business plan and go-to-market strategy
textThe nature of this Report is to outline the proposed business opportunity for reQwip -- an online marketplace for buying, selling and renting sports equipment -- and the go-to-market strategy for this young startup. reQwip is an Austin, Texas-based technology company founded by students and alumni of The University of Texas at Austin for the purpuse of creating a mobile, peer-to-peer (P2P) marketplace for buying, selling and renting new and used sports equipment. ReQwip is launching its minimum viable product (MVP) in Spring 2014. The MVP is a liquid marketplace focused specifically on buying and selling new and used cycling and triathlon gear in Austin,TX and greater Central Texas. This MVP is our gateway into a sporting goods industry worth 54 billion in the United States, of which $1-3 billion is used gear sales in the U.S.AdvertisingBusiness Administratio
Crowdlending: mapping the core literature and research frontiers
[EN] Peer-to-peer (P2P) lending uses two-sided platforms to link borrowers with a crowd of lenders. Despite considerable diversity in crowdlending research, studies in this area typically focus on several common research topics, including information asymmetries, social capital, communication channels, and rating-based models. This young research field is still expanding. However, its importance has increased considerably since 2018. This rise in importance suggests that P2P lending may offer a promising new scientific research field. This paper presents a bibliometric study based on keyword co-occurrence, author and reference co-citations, and bibliographic coupling. The paper thus maps the key features of P2P lending research. Although many of the most cited papers are purely financial, some focus on behavioral finance. The trend in this field is toward innovative finance based on new technologies. The conclusions of this study provide valuable insight for researchers, managers, and policymakers to understand the current and future status of this field. The variables that affect new financial contexts and the strategies that promote technology-based financial environments must be investigated in the future.Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature.Ribeiro-Navarrete, S.; Piñeiro-Chousa, J.; López-Cabarcos, MÁ.; Palacios Marqués, D. (2022). Crowdlending: mapping the core literature and research frontiers. Review of Managerial Science. 16(8):2381-2411. https://doi.org/10.1007/s11846-021-00491-82381241116
Crowdlending: mapping the core literature and research frontiers
Peer-to-peer (P2P) lending uses two-sided platforms to link borrowers with a crowd of lenders. Despite considerable diversity in crowdlending research, studies in this area typically focus on several common research topics, including information asymmetries, social capital, communication channels, and rating-based models. This young research field is still expanding. However, its importance has increased considerably since 2018. This rise in importance suggests that P2P lending may offer a promising new scientific research field. This paper presents a bibliometric study based on keyword co-occurrence, author and reference co-citations, and bibliographic coupling. The paper thus maps the key features of P2P lending research. Although many of the most cited papers are purely financial, some focus on behavioral finance. The trend in this field is toward innovative finance based on new technologies. The conclusions of this study provide valuable insight for researchers, managers, and policymakers to understand the current and future status of this field. The variables that affect new financial contexts and the strategies that promote technology-based financial environments must be investigated in the futureOpen Access funding provided thanks to the CRUE-CSIC agreement with Springer NatureS
Personal Volunteer Computing
We propose personal volunteer computing, a novel paradigm to encourage
technical solutions that leverage personal devices, such as smartphones and
laptops, for personal applications that require significant computations, such
as animation rendering and image processing. The paradigm requires no
investment in additional hardware, relying instead on devices that are already
owned by users and their community, and favours simple tools that can be
implemented part-time by a single developer. We show that samples of personal
devices of today are competitive with a top-of-the-line laptop from two years
ago. We also propose new directions to extend the paradigm
The Development of P2P Lending Platforms: Strategies and Implications
Peer-to-Peer (P2P) lending is part of the broader Fintech revolution that is sweeping across the globe in recent years. Due to its immense potential for generating economic and social benefits, it is gaining plenty of attention from academics and practitioners alike. And yet, our knowledge on how to develop and manage the digital platforms that makes P2P lending possible is limited. To address this knowledge gap, we conducted a case study of Tuodao, one of the leading P2P lending platforms in China. Based on the preliminary data from this ongoing study, we constructed a process model that suggests the process of P2P lending platform development can traverse across three sequential stages. Each of the stages are marked by the employment of a distinct strategy that emphasizes the development of a particular side of the platform, which in turn, leads to a specific platform configuration and its associated developmental outcomes
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Online Fundraising Through the Lenses of Law, Economics, and Sociology: Examples from American P2P Lending and Thai Rotating Savings and Credit Association
In recent years, online lending has become a new method of financing that allows people to lend and borrow anywhere anytime. Yet, due to its complex and wide-ranging operation, the online lending phenomena has become one of the most buzzing regulatory concerns. Online lending not only challenges incumbent loan providers like commercial banks by providing loans to unserved borrowers at attractive rates, it also presents unprecedented investment opportunities for individual lenders who are often referred to as ‘peer’ or ‘crowd’ to lend out their money commercially. In this dissertation, I explore how two different online lending methods help individual lenders who often lack financial sophistication to make safe investment and how laws and regulations may affect online lending businesses and their consumers. This dissertation includes two essays that examine two examples of online lending practices: peer-to-peer (P2P) lending in the United States and online rotating savings and credit association (ROSCA) in Thailand. The first essay argues P2P lending platforms originally endorsed interpersonal relationships in lending and adopted many peer-to-peer features, such as social networks, personal profiles and group affiliations because interpersonal relationships are valuable and imperative for individual lenders and borrowers on P2P lending platforms. Nevertheless, the laws and regulations on P2P lending in the United States have caused P2P lending platforms to relinquish their commitments to utilize interpersonal relationships. The disappearance of interpersonal relationship on P2P lending platforms results in worse economic and sociological outcomes for individual lenders.The second essay argues that interpersonal relationship is paramount to the success of ROSCAs in Thailand. Traditionally, ROSCA participants rely on their interpersonal relationships to lend and borrow from each other. Recently, an online form of ROSCAs has emerged and spread. Online ROSCAs allow strangers, who have no interpersonal relationship to easily create a virtual ROSCA. Such a risk alarms the financial regulators, lawmakers, and the public. Nevertheless, the current regulatory landscape on ROSCAs have also been developed based on a long concern of frauds created by informal fundraising methods. While the current regulatory regime aims to ban and restrict ROSCAs which are operate beyond a local and personal level, the regulations effectively deem the whole category of online ROSCAs illegal and drove them to operate outside to the formal financial system. Both P2P lending in the United States and ROSCAs in Thailand utilize interpersonal relationships among parties of lending transaction to address four fundamental concerns in lending: uncertainty, information asymmetry, interpersonal trust, and institutional trust. From an economic perspective, Ronald Coase’s proposition suggests that personal relationships may help reduce uncertainty and information asymmetry in economic transactions including lending. From a sociological perspective, Francis Fukuyama and Linda Molm acknowledge the importance of interpersonal trust and institutional trust within financial exchanges. Interpersonal relationships among actors of a financial transaction can build and maintain interpersonal trust and institutional trust. This dissertation also applies both the economic and sociological perspectives to understand how laws and regulations might affect P2P lending platforms, and traditional and online ROSCAs. The studies of P2P lending platforms and online ROSCAs exemplify how the current laws and regulations which were developed based on more traditional financial methods can shift new financial services, particularly online lending, into a worse position
Talking to the Empowered Consumer Dealing with the Shift of Power
The concept of the empowered consumer cannot be considered as a field of exact scientific
research yet. Nevertheless, it has become part of scholars’ interest and gains more and more
importance in the research of organisational relationships with customers. It is suggested that
two influencing criteria are especially at the forefront: The emergence of the Internet, which
effected that barriers to collect and to disseminate information across boundaries were
decisively reduced. As a consequence consumers could organise globally and collect and
exchange information and experiences about organisations and their products. Furthermore,
flexible interactivity between companies and consumers, but particularly from consumers to
consumers enable direct interaction changing many previously established rules of doing
business. Due to these new opportunities new business models developed and the proposition
is that intangible values such as reputation gained even more importance and influence
tangible outcomes.
Suggestions are that 1.), this concept links communication, corporate behaviour and
legitimacy of activities influencing reputation as a driver of value. 2.), reputation as a
corporate asset can be managed but it is beyond the pure control of an organisation. 3.),
reputation is part of public perception, which an organisation has to build, maintain and
expand depending on communicative abilities and willingness to accept consumers as a centre
of power. The following discussion will present Grunig et al.’s communication model
explaining changed organisational challenges. It is put forward as a framework for marketing
for times in which online opportunities added to the earlier b2b and b2c models c2c and P2P
considerations and architectures.
The annual studies of the market research institute puls undertaking regular representative
research among German consumers since November 2005 will present evidence for the
relationship of improved prices, which may be achieved, and the perception a firm possesses.
This paper deals mostly with German examples and data, but the hypothesis is that a) the
general situation in other Western countries is alike, but needs b) specific additional research,
since cultural differences are expected to have a considerable influence, especially when
criteria such as individualist and collectivist organisation of society and high and low context
communication styles are involved. Hence, the results of the same study in different countries
are therefore expected to present some variation.
Additionally, the Cluetrain Manifesto challenges corporate behaviour of those companies still
believing to have the ability to control information disseminated by and written about it.
Examples provided will support the hypothesis that powerful consumers may have significant
impact on organisational behaviour, decision-making and outcomes.
Keywords: Empowered Consumer Concept, Symmetric Two-way communication,
Reputation, c2c, P2
CREDIT RISK PREFERENCE IN E-FINANCE: AN EMPIRICAL ANALYSIS OF P2P LENDING
Online P2P lending marketplaces match individual lenders and borrowers for unsecured loans via real-time auction without financial institutions as an intermediary. This paper aims to build up a theoretical framework from the perspectives of informational social influence and herding behavior to explain how individual investors’ participation of online financial community influence their credit risk preference in online P2P lending marketplaces under different financial situations. The research proposes that online financial community participants’ credit risk preference is higher than non-participants in investment decision making during non-financial crisis period, whereas online financial community participants’ credit risk preference is lower than non-participants during financial crisis period. This research plans to conduct a field study to test the proposed effect by examining individual investors’ real transaction data on Prosper.com during financial crisis period and non-financial crisis period as well as their membership records on the community of Prospers.org. An analytical model will be further estimated to test the proposition
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