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加拿大曼尼托巴大学路磊教授:The Pricing Strategies of Unsecured Consumer Loan




题目:The Pricing Strategies of Unsecured Consumer Loan


摘要:We examine a unique proprietary dataset of approximately 3 million unsecured consumer loans from a representative sample of households provided by a business-to-consumer (B2C) online retailer in China. We find that the likelihood of a customer being solicited by the loan issuer increases monotonically with creditworthiness and age. The pricing strategies of the loan issuer demonstrate a trade-off pattern. The unsecured consumer loan lender increases the credit supply and charges a higher current rate for the solicited riskier borrowers. After the passage of the China Banking Regulatory Commission (CBRC) Act, this trade-off phenomenon is exacerbated.

个人简介:路磊,加拿大曼尼托巴大学阿斯博商学院Bryce Douglas讲席教授,博士生导师,金融学研究生项目主任。他于2007年毕业于加拿大麦吉尔大学,获得金融学博士学位。2007-2011年任教于上海财经大学金融学院,2011-2016年任教于北京大学光华管理学院。他的研究方向包括资产定价,行为金融和消费金融。他的研究成果发表在Journal of Financial and Quantitative Analysis,Management Science,Journal of Economic Dynamics and Control,Economic Theory,Journal of Futures Markets和Economics Letters 等英文期刊。