日本語
 
Help Privacy Policy ポリシー/免責事項
  詳細検索ブラウズ

アイテム詳細

  Paralyzed by Shock and Confused by Glut: The Portfolio Formation Behavior of Peer-to-Business Lending Investors

Dorfleitner, G., Hornuf, L., & Weber, M. (2018). Paralyzed by Shock and Confused by Glut: The Portfolio Formation Behavior of Peer-to-Business Lending Investors. Max Planck Institute for Innovation & Competition Research Paper, No. 18-11.

Item is

基本情報

表示: 非表示:
アイテムのパーマリンク: https://hdl.handle.net/21.11116/0000-0001-8ACA-0 版のパーマリンク: https://hdl.handle.net/21.11116/0000-0004-E2CB-8
資料種別: 成果報告書

ファイル

表示: ファイル

関連URL

表示:
非表示:
URL:
https://ssrn.com/abstract=3186093 (プレプリント)
説明:
-
OA-Status:
説明:
Also published as: CESifo Working Paper Series No. 7092
OA-Status:

作成者

表示:
非表示:
 作成者:
Dorfleitner, Gregor1, 著者
Hornuf, Lars2, 著者           
Weber, Martina1, 著者
所属:
1External Organizations, ou_persistent22              
2MPI for Innovation and Competition, Max Planck Society, ou_2035292              

内容説明

表示:
非表示:
キーワード: Behavioral Finance, Investment Bias, Peer-to-business lending, Crowdlending, RAROC, Diversification
 要旨: We study the investor behavior on a leading peer-to-business lending platform and find evidence of two new investment biases-a default shock bias and a deep market bias. First, we find investors to stop investing in new loans and to cease from diversifying their portfolio after experiencing a loan default. This default shock significantly worsens the risk-return profile of investors' loan portfolios. Second, investors are unable to cope with a glut of loan campaigns. Similar to the default shock bias, investors cease from investing in new loans and consequently underdiversify their portfolios as more loans become available on the platform. Deeper markets also result in a deterioration of investors' risk-return profiles. Third, investment experience on the platform reduces the effect of the deep market bias

資料詳細

表示:
非表示:
言語: eng - English
 日付: 2018-05-27
 出版の状態: オンラインで出版済み
 ページ: 31
 出版情報: -
 目次: -
 査読: -
 識別子(DOI, ISBNなど): -
 学位: -

関連イベント

表示:

訴訟

表示:

Project information

表示:

出版物 1

表示:
非表示:
出版物名: Max Planck Institute for Innovation & Competition Research Paper
種別: 連載記事
 著者・編者:
所属:
出版社, 出版地: -
ページ: - 巻号: No. 18-11 通巻号: - 開始・終了ページ: - 識別子(ISBN, ISSN, DOIなど): -