volatility, liquidity risk and liquidity commonality. The measures indicate whether each of our nine investor types persistently … volatility. Liquidity risk is driven by the positive-feedback trades of foreigners and local institutions. Local individuals …’ contrarian trades Granger-cause liquidity commonality. We conclude that persistent trading strategies are important demand …

the perspective of the internal credit rating system. Design/methodology/approach: Data from Moneyauction, the first P2P … self-assessed credit score system used by Moneyauction with regard to investor funding decisions and the actual repayment … performance outcomes of borrowers. The predictive power of this self-assessed credit score is also identified. Findings: The …