Research published by two University of Queensland students has revealed that peer-to-peer loan providers are more inclined to accept lower monetary returns when they know the task they’re funding is socially and environmentally accountable.
Jason Lejcak (Bachelor of Economics (Honours)) and Benjamin Wiltshire (Bachelor of Commerce (Honours) and Bachelor of Science) co-authored the research included in a study task with UQ’s Australian Institute for company and Economics (AIBE), that was made possible by way of a scholarship supplied by two UQ alumni.
Included in the research, the pair examined data from a popular Australian peer-to-peer lending platform and discovered that tiny green loans – averaging around $8000 and utilized mainly for renewable power jobs such as for instance installing rooftop solar – had a 2.1 % reduced rate of interest than the usual comparable loan useful for other purposes.
Mr Lejcak stated while green loans comprised a little piece of this peer-to-peer financing market, these people were a fast-growing group of loan demands online payday loans South Carolina.
“Peer-to-peer economic financing platforms offer people and smaller loan providers using the chance to partake in social impact investing, which can be typically beyond your range of banking institutions and larger loan providers, ” he said.
“once you think about the sharing economy, a lot of people consider Uber (transportation) and AirBnB (accommodation), but peer-to-peer financing is a truly exciting and competitive area that’s checking new and transforming current markets. ”
Mr Wiltshire said he would like to see peer-to-peer platforms follow an impact that is social for loan demands.
“If these platforms could offer peer-to-peer loan providers use of a social effect metric, alongside the available credit history metrics, we think it may attract a more substantial market and increase the financing task on these platforms, ” he said.
“In Australia, the sector continues to be quite tiny and unregulated, even though there’s nevertheless much to explore and comprehend, our research recommends applying an impact that is social could replace the game for renewable power lending on peer-to-peer platforms. ”
Mr Lejcak and Mr Wiltshire would be the 2018 recipients for the Matthew McLennan and Richard Howes Outstanding Honours Collaboration Scholarship, that was created in 2014 and encourages teamwork between high-performing honours pupils through the UQ company School and School of Economics.
Mr Wiltshire stated focusing on this innovative research that is peer had provided numerous individual and expert development possibilities.
“Beyond developing our research abilities, i discovered it valuable to achieve contact with various perspectives – from Jason and our scholastic advisors – and discover ways to bring our ideas, experiences and abilities together to look at and donate to the discussion with this pressing issue. ”
Mr Lejcak thanked Mr McLennan and Mr Howes for providing this large scholarship.
“As a pupil, realizing that s a really big plus, and this alumni-funded scholarship is an example of that that you have UQ’s strong alumni network out there ready and willing to support you. It’s amazing. ”
Both students graduated from UQ in December 2018 and commenced as worldwide areas Analysts at Citi Bank in Sydney in February 2019.
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