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Peer-To-Peer Lending Market and Shadow Banking in China.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Peer-To-Peer Lending Market and Shadow Banking in China.
Author:	Kuang, Jiaqi.
Published:	Ann Arbor : ProQuest Dissertations & Theses, 2022
Description:	252 p.
Notes:	Source: Dissertations Abstracts International, Volume: 84-05, Section: A.
Notes:	Advisor: Ji, Xudong;Cheng, Peng;Kallinterakis, Vasileios.
Contained By:	Dissertations Abstracts International84-05A.
Subject:	Investments.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29796715
ISBN:	9798352977453

Peer-To-Peer Lending Market and Shadow Banking in China.
Kuang, Jiaqi.

Peer-To-Peer Lending Market and Shadow Banking in China. - Ann Arbor : ProQuest Dissertations & Theses, 2022 - 252 p.

Source: Dissertations Abstracts International, Volume: 84-05, Section: A.

Thesis (Ph.D.)--The University of Liverpool (United Kingdom), 2022.

This item must not be sold to any third party vendors.

The fast development and high risk of Chinese peer-to-peer lending market has attracted more scholars’ the attention. This thesis studiesthe Chinese peer-to-peer lending market from the platform level (see chapter 2 and 3) and market level (see chapter 4).Firstly, this thesis examines the various information (third-party provided information and voluntary information disclosure) and government regulation effect on the default probability and cost of capital of platforms by the specific dataset which combines the data collected from CSMAR (control variables), WDZJ (third-party provided index), and platforms’ website (voluntary information disclosure). This study finds that both third-party provided information and voluntary financial information disclosure help on reducing the default probability and cost of capital of platforms, meanwhile, the government regulatory intervention could decrease the cost of capital (Chapter 2). sentiment impact of different types of public information (media news and social media posts) on the performance of peer-to-peer lending platforms. Based on the unique news dataset that collected and analyzed by Python and Snownlp (which used to run the sentiment analysis), this study reveals that the higher levels of media sentiment and social media sentiment dampen the default probability, and the asymmetry effect exists in the peer-to-peer lending market which display that only positive change on sentiment of news has a significant impact on reducing default probability and cost of capital of platforms, while negative change on sentiment does not. Furthermore, this study tries to explain the results by examining the sentiment effect on investors’ participation, which does help to explain the role of news sentiment. (Chapter 3).Finally, this thesis examines the effect of central government monetary policy and the local government financial demand on the scale of peer-to-peer lending market, which is a new type of shadow banking market in China. The results show that the central government monetary policy has significant effect on the future rising of the scale of the peer-to-peer lending market; meanwhile, the local financing demand has the significant positive effect on the scale of the peer-to-peer lending market. This study also suggests that the size of existing shadow banking facilitates the future expanding of the peer-to-peer lending market (Chapter 4).

ISBN: 9798352977453Subjects--Topical Terms:

187451
Investments.

Peer-To-Peer Lending Market and Shadow Banking in China.
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