Peer-to-Peer Lenders Versus Banks: Substitutes or Complements?

This paper studies whether, in the consumer credit market, peer-to-peer (P2P) lending platforms serve as substitutes for banks or instead as complements. I develop a conceptual framework and derive testable predictions to distinguish between these two possibilities. Using a regulatory change as an e...

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Veröffentlicht in:	The Review of financial studies 2019-05, Vol.32 (5), p.1900-1938
1. Verfasser:	Tang, Huan
Format:	Artikel
Sprache:	eng
Schlagworte:	2009-2012 Bank Finanztechnologie Share Economy Substitutionseffekt USA Verbraucherkredit
Online-Zugang:	Volltext
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