Work detail

Analysis of Czech P2P lending investors' behaviour drivers

Author: Bc. Tereza Hudcová
Year: 2017 - summer
Leaders: Mgr. Petr Polák MSc.
Consultants:
Work type: Bachelors
Language: English
Pages: 74
Awards and prizes: B.A. with distinction from the Director of IES FSV UK for an extraordinarily good bachelors diploma thesis.
Link: https://is.cuni.cz/webapps/zzp/detail/185508/
Abstract: This empirical study develops an analysis of peer-to-peer lending market in the Czech
Republic by analysing uniquely collected dataset from Czech P2P lending platform Zonky
and information obtained directly from its investors. The research question investigates, if
there exists correlation between peer-to-peer investors’ risk attitude, which is inferred by
validated survey method, and their real behaviour on platform. The thesis’ results show
that investors in online environment behave way riskier than they, from the theoretical
point of view, actually should. Results also confirmed that investors’ risk attitudes are
domain specific. Subsequently, OLS estimation method uncovers that the only factor, that
is highly statistically significant, in terms of the impact on lenders’ expected return, is
the interest rate stated at loan request. This finding further supports lenders’ inclination
to greater risk, resulting in lack of concern with borrower’s characteristics
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