Discrete Dynamics in Nature and Society

Research Article

Incentive and Coordination in the Two-Sided Market: Evidence from the P2P Lending Market

Table 10

The influence of coupon strategy on the number of borrowers.


	Borrower
	(1)	(2)	(3)	(4)	(5)

Coupon	0.972	0.543	0.524	0.238	0.180
Coupon	(8.08)	(5.29)	(5.28)	(3.15)	(2.41)
Interest_t-1		39.60			12.36
Interest_t-1		(17.83)			(5.89)
Lender_t-1			0.511		0.071
Lender_t-1			(19.66)		(2.27)
Borrower_t-1				0.795	0.757
Borrower_t-1				(34.90)	(22.18)
C	6.840	−83.66	2.219	1.394	−25.94
C	(4.51)	(−16.49)	(9.15)	(8.54)	(−5.58)
N	717	716	716	716	716
	0.18	0.34	0.428	0.674	0.759

Note. The dependent variable is the number of borrowers (remarked as Borrower) at time . The independent variable is the coupon (remarked as Coupon) at time . Interest_t−1, Lender_t−1, and Borrower_t−1 are the control variables which are the interest rate, the number of investors, and borrowers at time , respectively. statistics are given in parentheses. <0.01, <0.05, and <0.1.