Research published by two University of Queensland pupils has revealed that peer-to-peer loan providers are more inclined to accept reduced economic returns when they understand the task these are typically 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 as an element of a research task with UQ’s Australian Institute for company and Economics (AIBE), that has been made thanks that are possible a scholarship supplied by two UQ alumni.
The pair examined data from a popular Australian peer-to-peer lending platform and found that small green loans – averaging around $8000 and used largely for renewable energy projects such as installing rooftop solar – had a 2.1 per cent lower interest rate than a comparable loan used for other purposes as part of the study.
Mr Lejcak stated while green loans comprised a little slice associated with the lending that is peer-to-peer, these people were a fast-growing group of loan needs.
“Peer-to-peer monetary financing platforms offer people and smaller lenders aided by the chance to partake in social impact investing, which can be usually away from range of banking institutions and larger loan providers, ” he said.
“once you consider the sharing economy, many people think about Uber (transport) and AirBnB (accommodation), but peer-to-peer financing is an extremely exciting and competitive area that’s setting up brand new and transforming current markets. ”
Mr Wiltshire stated he would like to see peer-to-peer platforms follow an impact that is social for loan demands.
“If these platforms could provide peer-to-peer loan providers use of a social impact metric, alongside the now available credit score metrics, we think it might attract a more substantial market and raise the financing activity on these platforms, ” he said.
“In Australia, the sector remains quite tiny and unregulated, even though there’s nevertheless much to explore and realize, our research indicates applying an impact that is social could replace the game for renewable energy lending on peer-to-peer platforms. ”
Mr Lejcak and Mr Wiltshire will be the 2018 recipients associated with the Matthew McLennan and Richard Howes Outstanding Honours Collaboration Scholarship, that has been created in 2014 and encourages teamwork between high-performing honours pupils through the UQ company class and class of Economics.
Mr Wiltshire stated focusing on this revolutionary research that is peer had supplied numerous individual and expert development possibilities.
“Beyond developing our research abilities, i came across it valuable to achieve experience of various perspectives – from Jason and our scholastic advisors – and discover ways to bring our tips, experiences and skills together to look at and subscribe to the discussion about this pressing issue. ”
Mr Lejcak thanked Mr McLennan and Mr Howes for providing this large scholarship.
“As a pupil, understanding that you have UQ’s strong alumni network on the market prepared and prepared to give you support, that is a truly big plus, and also this alumni-funded scholarship is a good example of that. It’s amazing. ”
Both students graduated from UQ in December 2018 and commenced as Global areas Analysts at Citi Bank in Sydney in February 2019.
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