Jessica Foo, Lek-Heng Lim, Ken Sze-Wai Wong
arXiv 31 Oct 2017 · Econometrics · 6 citations (OpenAlex)
arXiv:1710.11283 · PDF · DOI · OpenAlex · Extracted main text
Peer-to-peer (P2P) lending is a fast growing financial technology (FinTech) trend that is displacing traditional retail banking. Studies on P2P lending have focused on predicting individual interest rates or default probabilities. However, the relationship between aggregated P2P interest rates and the general economy will be of interest to investors and borrowers as the P2P credit market matures. We show that the variation in P2P interest rates across grade types are determined by three macroeconomic latent factors formed by Canonical Correlation Analysis (CCA) - macro default, investor uncertainty, and the fundamental value of the market. However, the variation in P2P interest rates across term types cannot be explained by the general economy.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | ahn APACrefauthors Ahn, S C. , Dieckmann, S. \ Perez, M F. APACrefau… (2012) 2012 | 1.000 | 9 | 4 | 100% |
| 2 | dietrich APACrefauthors Dietrich, A. \ Wernli, R. APACrefauthors \ (2016) 2016 | 0.737 | 3 | 2 | 100% |
| 3 | hair APACrefauthors Hair, J F. , Black, W C. , Babin, B J. , Anderso… (1998) 1998 | 0.644 | 2 | 2 | 100% |
| 4 | litterman APACrefauthors Litterman, R B. \ Scheinkman, J. APACrefaut… (1991) 1991 | 0.644 | 2 | 2 | 100% |
| 5 | ang APACrefauthors Ang, A. \ Piazzesi, M. APACrefauthors \ (2003) 2003 | 0.405 | 1 | 1 | 100% |
| 6 | berg APACrefauthors Bergbrant, M C. \ Kelly, P J. APACrefauthors \ (2016) 2016 | 0.405 | 1 | 1 | 100% |
| 7 | duffee APACrefauthors Duffee, G R. APACrefauthors \ (1998) 1998 | 0.405 | 1 | 1 | 100% |
| 8 | fama APACrefauthors Fama, E F. \ French, K R. APACrefauthors \ (1993) 1993 | 0.405 | 1 | 1 | 100% |
| 9 | gourieroux APACrefauthors Gourieroux, C. , Monfort, A. \ Renault, E.… (1993) 1993 | 0.405 | 1 | 1 | 100% |
| 10 | herzenstein APACrefauthors Herzenstein, M. , Andrews, R L. , Dholaki… (2008) 2008 | 0.405 | 1 | 1 | 100% |
Showing the top 10 of 15 scored citations.