We analyze the performance of marketplace lending using loan cash flow data from the largest platform, Lending Club. We find substantial risk-adjusted performance of 0.38% per month for the entire loan portfolio. Other loan portfolios grouped by risk category have similar risk-adjusted...

The discount control mechanisms that closed-end funds often choose to adopt before IPO are supposedly implemented to narrow the difference between share price and net asset value. The two discount control mechanisms are mandatory continuation votes facilitating subsequent fund liquidation and...