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

Table 13

Wilcoxon test of the number of participants.

	G1			G2			Z
	Obs.	Mean	Std.	Obs.	Mean	Std.
Panel A. The number of borrowers
B2019	129	3453.07	4680.706	236	11286.75	10007.894	−1.888	0.034
B2018	210	1104.633	623.34	143	1238.83	676.88	−8.752	0.000
B	338	2003.35	3140.31	379	7495.58	9285.62	−9.419	0.000
Panel B. The number of investors
L2019	126	74709.89	44990.68	236	104564.35	49969.51	−3.871	0.000
L2018	210	3850.89	2558.79	143	5150.01	3412.31	−3.871	0.000
L	338	30904.06	44280.81	379	67054.45	62328.84	−9.112	0.000
Panel C. The number of trading volume
T2019	140	3609.1	410.58	224	11548.77	672.24	−9.060	0.000
T2018	216	877.59	32.99	135	978.23	46.45	−1.967	0.029
T	356	1951.78	177.122	359	7573.77	499.18	−9.861	0.000

Note. Table 13 shows the Wilcoxon test of the number of participants. Group 1 is that the platform does not adopt the coupon strategy in time , and group 2 is that the platform adopts the coupon strategy in time . B2019, L2019, and T2019 are the number of borrowers and investors in the 2019 year, and the trading volume in the 2019 year, respectively. B2018, L2018, and T2018 are the similar implication in the 2018 year. B, L, and T are the overall situation of two years.