Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China
Using a novel dataset of 121 Chinese P2P lending platforms, we investigate the impact of CEOs' banking experience on default risk. The empirical results indicate that CEOs with prior banking experience manage default risk better. Moreover, CEOs' banking experience has a stronger influence...
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sg-smu-ink.lkcsb_research-77002021-05-17T01:16:54Z Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China GONG, Qiang LIU, Chong PENG, Qianni WANG, Luying Using a novel dataset of 121 Chinese P2P lending platforms, we investigate the impact of CEOs' banking experience on default risk. The empirical results indicate that CEOs with prior banking experience manage default risk better. Moreover, CEOs' banking experience has a stronger influence on small platforms and in situations where the platforms' depository banks are city commercial banks. Our results indicate that although fintech provides technology to reduce risks, we cannot ignore the constructive role of professional experience in risk management. Thus, investors and regulators in emerging markets should pay attention to managers' financial qualifications, and especially to CEOs' banking experience. 2020-10-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/lkcsb_research/6701 info:doi/10.1016/j.frl.2020.101461 https://ink.library.smu.edu.sg/context/lkcsb_research/article/7700/viewcontent/Will_CEOs_Banking_Exp_2020_av.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Lee Kong Chian School Of Business eng Institutional Knowledge at Singapore Management University CEOs' banking experience Default risk Peer-to-peer lending platform (P2P) Asian Studies E-Commerce Finance and Financial Management |
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CEOs' banking experience Default risk Peer-to-peer lending platform (P2P) Asian Studies E-Commerce Finance and Financial Management GONG, Qiang LIU, Chong PENG, Qianni WANG, Luying Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
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Using a novel dataset of 121 Chinese P2P lending platforms, we investigate the impact of CEOs' banking experience on default risk. The empirical results indicate that CEOs with prior banking experience manage default risk better. Moreover, CEOs' banking experience has a stronger influence on small platforms and in situations where the platforms' depository banks are city commercial banks. Our results indicate that although fintech provides technology to reduce risks, we cannot ignore the constructive role of professional experience in risk management. Thus, investors and regulators in emerging markets should pay attention to managers' financial qualifications, and especially to CEOs' banking experience. |
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text |
author |
GONG, Qiang LIU, Chong PENG, Qianni WANG, Luying |
author_facet |
GONG, Qiang LIU, Chong PENG, Qianni WANG, Luying |
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GONG, Qiang |
title |
Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
title_short |
Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
title_full |
Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
title_fullStr |
Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
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Will CEOs with banking experience lower default risks? Evidence from P2P lending platforms in China |
title_sort |
will ceos with banking experience lower default risks? evidence from p2p lending platforms in china |
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Institutional Knowledge at Singapore Management University |
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2020 |
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https://ink.library.smu.edu.sg/lkcsb_research/6701 https://ink.library.smu.edu.sg/context/lkcsb_research/article/7700/viewcontent/Will_CEOs_Banking_Exp_2020_av.pdf |
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1770575686955696128 |