Until now, car ownership has been a symbol of wealth and personal freedom. The high value of the car in society has been enforced by the powerful automotive industry with their well-funded marketing budgets. Currently, there are one billion cars worldwide, possibly increasing to 2,8 billion by...

We explore individual lender behaviour on Renrendai.com, a leading Chinese peer-to-peer (P2P) crowdlending platform. Using a sample of roughly 5 million investor-loan-hour observations and applying a high-dimension fixed effect estimator, we establish evidence of herding behaviour: the investors...

I examine the role of intermediaries on the world's largest peer-to-peer online lending platform. This marketplace as well as other recently opened lending websites allow people to auction microcredit over the internet and are in line with the disintermediation in financial transactions through...