Credit and Capital Markets最新文献

54th Konstanz Seminar on Monetary Theory and Policy 2023 第54届康斯坦茨货币理论与政策研讨会

Credit and Capital Markets Pub Date : 2023-10-06 DOI: 10.3790/ccm.2023.01.hildebrand.stiepelmann

Sebastian Hildebrand, Gero Stiepelmann

引用次数: 0

German FinTech Companies: A Market Overview and Volume Estimates 德国金融科技公司：市场概况和交易量估计

Credit and Capital Markets Pub Date : 2023-01-01 DOI: 10.3790/ccm.56.1.103

G. Dorfleitner, Julia Kreppmeier, Ralf Laschinger

引用次数: 0

The Impact of COVID-19 on Demand and Lending Behavior in Prosocial P2P Lending 新冠肺炎对亲社会P2P借贷需求和借贷行为的影响

Credit and Capital Markets Pub Date : 2023-01-01 DOI: 10.3790/ccm.56.1.5

Christopher Priberny

引用次数: 0

A Novel Default Risk Prediction and Feature Importance Analysis Technique for Marketplace Lending using Machine Learning 基于机器学习的市场借贷违约风险预测与特征重要性分析技术

Credit and Capital Markets Pub Date : 2023-01-01 DOI: 10.3790/ccm.56.1.27

Sana Hassan Imam, S. Huhn, Lars Hornu, Rolf Drechsler

{"title":"A Novel Default Risk Prediction and Feature Importance Analysis Technique for Marketplace Lending using Machine Learning","authors":"Sana Hassan Imam, S. Huhn, Lars Hornu, Rolf Drechsler","doi":"10.3790/ccm.56.1.27","DOIUrl":"https://doi.org/10.3790/ccm.56.1.27","url":null,"abstract":"Marketplace lending has fundamentally changed the relationship between borrowers and lenders in financial markets. As with many other financial products that have emerged in recent years, internet-based investors may be inexperienced in marketplace lending, highlighting the importance of forecasting default rates and evaluating default features such as the loan amount, interest rates, and FICO score. Potential borrowers on marketplace lending platforms may already have been rejected by banks as too risky to lend to, which amplifies the problem of asymmetric information. This paper proposes a holistic data processing flow for the loan status classification of marketplace lending multivariate time series data by using the Bidirectional Long Short-Term Memory model (BiLSTM) to predict “non-default,” “distressed,” and “default” loan status, which outperforms conventional techniques. We adopt the SHapely Additive exPlanations (SHAP) and a four-step ahead model, allowing us to extract the most significant features for default risk assessment. Using our approach, lenders and regulators can identify the most relevant features to enhance the default risk assessment method over time in addition to early risk prediction.","PeriodicalId":36966,"journal":{"name":"Credit and Capital Markets","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42484732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

FinTech and the Digital Transformation in the Financial Industry 金融科技与金融业数字化转型

Credit and Capital Markets Pub Date : 2023-01-01 DOI: 10.3790/ccm.56.1.1

G. Dorfleitner, Lars Hornuf

引用次数: 0

Towards a Theory on Dominant Business Model Emergence of Marketplace Lending in Germany 德国市场借贷主导商业模式产生的理论探讨

Credit and Capital Markets Pub Date : 2023-01-01 DOI: 10.3790/ccm.56.1.63

Sabine Pur, S. Huesig, Christoph Schmidhammer

{"title":"Towards a Theory on Dominant Business Model Emergence of Marketplace Lending in Germany","authors":"Sabine Pur, S. Huesig, Christoph Schmidhammer","doi":"10.3790/ccm.56.1.63","DOIUrl":"https://doi.org/10.3790/ccm.56.1.63","url":null,"abstract":"In this paper, we analyze the business models of Germany’s biggest lending platforms smava, auxmoney, and Lendico to identify a standard business model as a dominant de-sign in this industry. We use a mixed method approach in which a case study at firm level is conducted to analyze and contrast the business models together with their business model components. This qualitative analysis is complemented with a quantitative test of their total asset annual growth rates to triangulate the qualitative analysis. The re-sults indicate that all three companies started with a similar approach but evolved over time into entirely different business model variants. This seems to contradict the previous theory of the emergence of standard business models and dominant designs. At first glance, an increasing convergence of business models over time into a standard business model in the German lending platform industry was not consistent with our results. However, we suggest to explain this contradiction by taking a closer look at the global context of the industry. The origin of lending platforms was pioneered outside the German market by firms such as Zopa (UK) or later Prosper and Lending Club (USA). We hypothesize based on initial evidence that the German lending platforms have largely adopted the business models of the early movers and later modified them according to their local value network such as local market, regulation, and competition conditions. Thereby we propose that the deficient standard business model as a dominant design or a winner takes all market outcome in the lending platform industry might depend on localized demand and regulative heterogeneity.","PeriodicalId":36966,"journal":{"name":"Credit and Capital Markets","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49526938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Central Bank Digital Currency and Cash in the Euro Area: Current Developments and one Specific Proposal 欧元区的中央银行数字货币和现金:当前的发展和一个具体建议

Credit and Capital Markets Pub Date : 2022-10-01 DOI: 10.3790/ccm.55.4.523

Gerhard Rösl, F. Seitz

引用次数: 1

Modern Monetary Theory, Fiscal Dominance and the European Central Bank 现代货币理论、财政优势与欧洲中央银行

Credit and Capital Markets Pub Date : 2022-10-01 DOI: 10.3790/ccm.55.4.431

A. Prinz, H. Beck

引用次数: 0

Taking Money Seriously and Putting it Back into the Feldstein-Horioka Saving-Investment Nexus 认真对待金钱，把它放回费尔德斯坦-堀冈储蓄-投资的关系

Credit and Capital Markets Pub Date : 2022-10-01 DOI: 10.3790/ccm.55.4.489

Kam Hon Chu