000056211 001__ 56211 000056211 005__ 20210121114513.0 000056211 0247_ $$2doi$$a10.1371/journal.pone.0139427 000056211 0248_ $$2sideral$$a92965 000056211 037__ $$aART-2015-92965 000056211 041__ $$aeng 000056211 100__ $$0(orcid)0000-0003-2596-9638$$aSerrano-Cinca, C.$$uUniversidad de Zaragoza 000056211 245__ $$aDeterminants of default in P2P lending 000056211 260__ $$c2015 000056211 5060_ $$aAccess copy available to the general public$$fUnrestricted 000056211 5203_ $$aThis paper studies P2P lending and the factors explaining loan default. This is an important issue because in P2P lending individual investors bear the credit risk, instead of financial institutions, which are experts in dealing with this risk. P2P lenders suffer a severe problem of information asymmetry, because they are at a disadvantage facing the borrower. For this reason, P2P lending sites provide potential lenders with information about borrowers and their loan purpose. They also assign a grade to each loan. The empirical study is based on loans'' data collected from Lending Club (N = 24, 449) from 2008 to 2014 that are first analyzed by using univariate means tests and survival analysis. Factors explaining default are loan purpose, annual income, current housing situation, credit history and indebtedness. Secondly, a logistic regression model is developed to predict defaults. The grade assigned by the P2P lending site is the most predictive factor of default, but the accuracy of the model is improved by adding other information, especially the borrower''s debt level. 000056211 536__ $$9info:eu-repo/grantAgreement/ES/MINECO/ECO2013-45568-R$$9info:eu-repo/grantAgreement/ES/MICINN/ECO2010-20228$$9info:eu-repo/grantAgreement/ES/DGA/S14-2 000056211 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/ 000056211 590__ $$a3.057$$b2015 000056211 591__ $$aMULTIDISCIPLINARY SCIENCES$$b11 / 62 = 0.177$$c2015$$dQ1$$eT1 000056211 592__ $$a1.427$$b2015 000056211 593__ $$aAgricultural and Biological Sciences (miscellaneous)$$c2015$$dQ1 000056211 593__ $$aMedicine (miscellaneous)$$c2015$$dQ1 000056211 593__ $$aBiochemistry, Genetics and Molecular Biology (miscellaneous)$$c2015$$dQ1 000056211 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000056211 700__ $$0(orcid)0000-0003-3044-4983$$aGutiérrez-Nieto, B.$$uUniversidad de Zaragoza 000056211 700__ $$aLópez-Palacios, L. 000056211 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab. 000056211 773__ $$g10, 10 (2015), [22 pp]$$pPLoS One$$tPloS one$$x1932-6203 000056211 8564_ $$s407285$$uhttps://zaguan.unizar.es/record/56211/files/texto_completo.pdf$$yVersión publicada 000056211 8564_ $$s104926$$uhttps://zaguan.unizar.es/record/56211/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000056211 909CO $$ooai:zaguan.unizar.es:56211$$particulos$$pdriver 000056211 951__ $$a2021-01-21-10:58:26 000056211 980__ $$aARTICLE