讲座题目：Fintech Lending and Debt Spiral

主讲嘉宾：石劲  中南财经政法大学金融学院教授

讲座时间：2024年12月27日（周五）14:00

讲座地点：

嘉宾简介

石劲，中南财经政法大学金融学院教授、博士生导师, 入选国家级高层次人才计划，澳大利亚国立大学金融学博士毕业。曾任职于澳大利亚国立大学、墨尔本皇家理工大学、澳大利亚麦考瑞大学。现为澳大利亚和新西兰会计和金融协会会士，亚洲金融协会理事， SSCI来源期刊《Accounting and Finance》副总编、《Journal of Accounting Literature》领域主编和《Research in International Business and Finance》副主编。

研究领域包括金融科技、实证公司金融、公司治理、债券评级和企业经营战略等，主要研究对象是中国经济和金融市场。已在American Economic Review, Journal of Political Economy, Administrative Science Quarterly, Strategic Management Journal， Management Science, Review of Finance,《经济研究》等国内外学术期刊发表论文70余篇。

摘要

We examine whether and how consumers can be trapped in debt spirals in fintech lending markets. With alternative data sources, fintech lenders may target and provide easy-access credit products to new customers. We find that after obtaining a focal fintech lender’s loan approval, borrowers receive more promotional messages from other fintech lending platforms, causing greater tendencies of subsequent new borrowing, personal expenditure, loan delinquency, and experiencing adverse social outcomes. This effect is stronger for borrowers with low financial literacy, limited credit access, and weak social insurance. Taken together, we document the economic and social consequences of fintech consumers’ overborrowing behavior.