The Impact of Online Word-of-Mouth and Default News on Trading Volumes in Peer-to-Peer Lending Platforms

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dc.contributor.authorShang, Yanan
dc.contributor.authorHu, Jin
dc.contributor.authorTao, Cheng
dc.contributor.authorHu, Daning
dc.contributor.authorYang, Xuan
dc.date.accessioned2023-12-26T18:39:17Z
dc.date.available2023-12-26T18:39:17Z
dc.date.issued2024-01-03
dc.identifier.doi10.24251/HICSS.2024.345
dc.identifier.isbn978-0-9981331-7-1
dc.identifier.otherc21d724d-0924-49ff-88a3-e939020d1c1b
dc.identifier.urihttps://hdl.handle.net/10125/106728
dc.language.isoeng
dc.relation.ispartofProceedings of the 57th Hawaii International Conference on System Sciences
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectSocial Media Influencers and Influencing
dc.subjectdefault news
dc.subjectonline word-of-mouth
dc.subjectpeer-to-peer lending platforms
dc.subjecttrading volume
dc.titleThe Impact of Online Word-of-Mouth and Default News on Trading Volumes in Peer-to-Peer Lending Platforms
dc.typeConference Paper
dc.type.dcmiText
dcterms.abstractThis study explores the impact of default news of peer-to-peer (P2P) lending platforms on their trading volumes, particularly during a market downturn, and examines the moderating effect of online word-of-mouth (WOM). Using a dataset encompassing 694 P2P lending platforms from P2PEye.com, a premier third-party P2P information portal in China, this study employs advanced econometric techniques such as staggered difference-in-differences and difference-in-difference-in-differences analyses. The results show that default news diminishes trading volumes of P2P platforms, an effect that is more pronounced on platforms with a more positive WOM. Moreover, we find that platforms affiliated with banks or operating without Internet Content Provider (ICP) certification appear to be less susceptible to the negative effects of default news. This study offers novel perspectives on the interplay between default news and online WOM within in a declining market. It contributes to the existing body of literature and provides actionable insights for various stakeholders.
dcterms.extent10 pages
prism.startingpage2863

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