Roure, Calebe de; Pelizzon, Loriana; Thakor, Anjan V. - 2021
We derive three testable predictions from a bank-P2P lender model of competition: (a) P2P lending grows when some banks … consumer bank credit market in Germany and find empirical support. Overall, our analysis indicates that P2P lenders are bottom … are faced with exogenously higher regulatory costs, (b) P2P loans are riskier than bank loans; and (c) the risk …