Der Mittelstand bildet das Rückgrat der deutschen Wirtschaft. Damit diese auch künftig international wettbewerbsfähig bleibt, bietet die Digitalisierung den Unternehmen eine große Chance, Prozesse zu optimieren, neue Geschäftsmodelle zu erarbeiten und neue Märkte zu erschließen. In diesem...

The emergence of consumer credit issued on E-commerce platforms poses a new challenge for financial regulators. In the lens of a stylized model, this paper analyzes E-commerce consumer credit's economics and welfare implications. It highlights four points that warrant the particular attention of...

We study the impact of trust on the expansion of online lending in the U.S. over the 2008-2016 period. Using data from the largest platform, we demonstrate that a misconduct-driven decline of trust in traditional banking is associated with a statistically and economically significant increase in...