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

<table class="table-group" id="tab6"><tr><td><table class="table"><tr><td class="thead-hr" colspan="2"><hr/></td></tr><tr class="thead"><td class="align_left">Variable</td><td class="align_center">Definition</td></tr><tr><td class="thead-hr" colspan="2"><hr/></td></tr><tr><td class="align_left">Borrower</td><td class="align_center">The daily number of borrowers</td></tr><tr><td class="align_left">Lender</td><td class="align_center">The daily number of investors</td></tr><tr><td class="align_left">Lreturn</td><td class="align_center">Average daily investors’ return</td></tr><tr><td class="align_left">Trading</td><td class="align_center">Average daily platform utility (average daily trading volume)</td></tr><tr><td class="align_left">Coupon</td><td class="align_center">The platform adopts the coupon strategy; 1 is the coupon strategy adopted in the month, otherwise 0.</td></tr><tr><td class="align_left">Interest</td><td class="align_center">Average daily interest rate</td></tr><tr><td class="align_left">Amount</td><td class="align_center">Average daily loan amount</td></tr><tr><td class="align_left">Month</td><td class="align_center">Average daily loan term</td></tr><tr><td class="align_left">Bidamount</td><td class="align_center">Average daily investment amount</td></tr><tr class="table-tr"><td colspan="2"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><div><i>Note.</i> Borrower, Lender, and Lreturn are the dependent variables; Coupon is the main independent variable; and the others are the control variables.<br/></div></td></tr></table>

Discrete Dynamics in Nature and Society

tab6

Table 6

Table 6: Incentive and Coordination in the Two-Sided Market: Evidence from the P2P Lending Market 