Marketplace lending of small- and medium-sized enterprises

IF 5.4 2区管理学 Q1 BUSINESS

Strategic Entrepreneurship Journal Pub Date : 2021-09-16 DOI:10.1002/sej.1411

Douglas Cumming, Lars Hornuf

引用次数: 0

Abstract

When evaluating Internet-based loan project of small and medium size enterprises (SME), lenders can rely on easy-to-understand risk ratings or more sophisticated financial information. We investigate lenders decisions and its effect on loan funding success on the marketplace-lending platform Zencap. The data set has been provided by the platform Zencap and includes 414 SME marketplace loans and 2,196 lenders. The data examined provide strong support for the importance of simple platform ratings in influencing investor behavior, while the effect of more detailed financial information is less pronounced, controlling for relevant variables. Higher interest rates appear more profitable to investors without any serious concern about non-repayment.

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中小企业市场贷款

在评估中小企业互联网贷款项目时，贷款人可以依靠易于理解的风险评级或更复杂的财务信息。我们调查贷款人的决定及其对市场借贷平台Zencap上贷款融资成功的影响。该数据集由Zencap平台提供，包括414个中小企业市场贷款和2196个贷方。所检验的数据有力地支持了简单的平台评级对投资者行为影响的重要性，而在控制了相关变量后，更详细的财务信息的影响则不那么明显。对于投资者来说，更高的利率似乎更有利可图，而无需担心无法偿还。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Strategic Entrepreneurship Journal Multiple-

CiteScore

11.10

自引率

1.60%

发文量

期刊介绍： The Strategic Entrepreneurship Journal is a research journal that publishes original work recommended by a developmental, double-blind review process conducted by peer scholars. Strategic entrepreneurship involves innovation and subsequent changes which add value to society and which change societal life in ways which have significant, sustainable, and durable consequences. The SEJ is international in scope and acknowledges theory- and evidence-based research conducted and/or applied in all regions of the world. It is devoted to content and quality standards based on scientific method, relevant theory, tested or testable propositions, and appropriate data and evidence, all replicable by others, and all representing original contributions. The SEJ values contributions which lead to improved practice of managing organizations as they deal with the entrepreneurial process involving imagination, insight, invention, and innovation and the inevitable changes and transformations that result and benefit society.