Peer-to-Peer (P2P) lending emerged over a decade ago and quickly evolved into a global industry. Since then, the P2P lending industry has become more complex, with increasingly diverse types of business models, each involving different risks and challenges. The Article analyzes the current state...

China's Peer-to-Peer (P2P) lending market now comprises a significant share of global markets in terms of transaction amounts, followed by the US and the UK. This huge market share was strongly driven by huge demand from the underserved borrowers and lenders in the Chinese financial market as...

We investigate the influence of financial and political factors on peer-to-peer (P2P) platform failures in China’s online lending market. Using a competing risk model for platform survival, we show that large platforms, platforms with listed firms as large shareholders, and platforms with...

The advancement of financial technology has given rise to the online peer-to-peer lending (P2P lending) platform to provide loans. P2P lending provides loans without the role of financial intermediaries such as banks. Further, P2P lending is expected to increase access to financing for...

We investigate how VC participation affects the failure of startups. Using a unique data set of the survival of peer-to-peer (P2P) platforms in China, we identify two types of failures, bankruptcy, and run off with investors' money. The Competing Risk Model results show that while VC...

With thousands of co-existing and competing platforms, the Chinese peer-to-peer (P2P) lending market experienced both high growth and high failure rate. We hand collect unique data for these P2P platforms and investigate the differences in performance and survival for platforms with and without...