Group social capital and lending outcomes in the financial credit market: An empirical study of online peer-to-peer lending

摘要: Empirical discovery of the mixed effects group-level social capital.Measurement group capital in different dimensions.Extension theories by introducing institutional environment.Recommendation for mitigation negative capital. We studied relationship between individuals' and their lending outcomes online peer-to-peer financial credit market, where individual lenders make direct unsecured microloans to other borrowers. Despite its ability facilitate economic exchange, as public goods may also cause free-rider problems, particularly an environment. Based on analyses transaction data collected from one largest platform U.S., we found that borrower's general (i.e., membership) relational credibility verifiability, trust) yielded inconsistent effects, structural inclusiveness) had a impact on, his/her funding repayment performance. discuss implications our findings reconciling two major but conflicting theoretical views improving mechanism design decentralized market.