空气污染与网络借贷行为：中国点对点借贷的证据

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Behavioral and Experimental Finance Pub Date : 2024-03-09 DOI:10.1016/j.jbef.2024.100919

Xiao Chen , Gangxing Guo

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引用次数: 0

摘要

本文研究了空气污染对个人借贷决策的影响。利用领先的点对点借贷平台的独特数据，我们发现有证据表明，空气质量指数（AQI）每增加 10 个单位，出借人的单个标的出借金额就会增加 5.47 元人民币，募集期也会提前 6%。此外，PM2.5 和 CO 污染物的影响十分严重。老年人和未受过良好教育的人群将受到空气污染的严重影响。我们进一步探讨了三种潜在机制：物理渠道、生理渠道和心理渠道，结果表明前两种机制是有效的。总之，我们的研究结果揭示了环境因素对网络借贷参与者的影响。

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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Air pollution and online lender behavior: Evidence from Chinese peer-to-peer lending

This paper examines the effect of air pollution on individual lenders' decisions. Using unique data from the leading peer-to-peer lending platform, we find evidence that for every 10 units increase in the air quality index (AQI), the lender would lend RMB 5.47 yuan more in one single bid and 6% earlier in the fund-raising period. Moreover, the impacts from PM2.5 and CO pollutants are serious. The older people and people that are not well-educated would significantly suffer from air pollution. We further explore three potential mechanisms: physical channel, physiological channel as well as psychological channel, and show that the first two are valid. Overall, our findings shed light on the influence of environmental factors on online lending participants.

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来源期刊

Journal of Behavioral and Experimental Finance BUSINESS, FINANCE-

CiteScore

13.20

自引率

6.10%

发文量

审稿时长

69 days

期刊介绍： Behavioral and Experimental Finance represent lenses and approaches through which we can view financial decision-making. The aim of the journal is to publish high quality research in all fields of finance, where such research is carried out with a behavioral perspective and / or is carried out via experimental methods. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in financial decision making, national and organizational culture as it impacts financial decision making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision making and trading, methodological experiments, and natural experiments. Journal of Behavioral and Experimental Finance welcomes full-length and short letter papers in the area of behavioral finance and experimental finance. The focus is on rapid dissemination of high-impact research in these areas.