Presentation Title

Online Peer-to-Peer(P2P) Lending Adoption in China, Germany and United States: A Cross-cultural Study

Faculty Mentor

Hua Dai

Start Date

23-11-2019 10:00 AM

End Date

23-11-2019 10:45 AM

Location

7

Session

poster 3

Type of Presentation

Poster

Subject Area

behavioral_social_sciences

Abstract

Online peer-to-peer (P2P) lending allows individuals to lend and borrow money directly from each other without an intermediating bank or credit institution. P2P lending was predicted to be the most important financial service innovations in the coming decades. Although there is a growing need for P2P type of micro-financing, even in prosperous countries like the United States, China, and Germany, there is still a research gap in literature that does not address the cross-cultural comparisons of user adoption among these three countries. Thus, the identification of factors that influence adoption of online P2P lending has significant value. In a global context, this study identified factors affecting online P2P lending adoption based on published research in management Information Systems (MIS) field. These factors were investigated in China, Germany, and the United States, and a comparative examination was conducted. A survey is currently under implementation to collect users’ perceptions of characteristics of online P2P lending service and their intentions to adopt online P2P lending services in China, Germany, and USA. This study employs the theoretical lens of cultural dimensions as a background theory to elucidate and explain cultural differences in the context of online P2P lending where unforeseeable uncertainties, such as risk, trust, and benefit, inevitably exist and may exhibit different influences on consumers from different cultures. It is hoped that studying the cultural aspects will further advance our understanding of cultural differences in MIS research and improve IT-driven cross-cultural coordination.

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Nov 23rd, 10:00 AM Nov 23rd, 10:45 AM

Online Peer-to-Peer(P2P) Lending Adoption in China, Germany and United States: A Cross-cultural Study

7

Online peer-to-peer (P2P) lending allows individuals to lend and borrow money directly from each other without an intermediating bank or credit institution. P2P lending was predicted to be the most important financial service innovations in the coming decades. Although there is a growing need for P2P type of micro-financing, even in prosperous countries like the United States, China, and Germany, there is still a research gap in literature that does not address the cross-cultural comparisons of user adoption among these three countries. Thus, the identification of factors that influence adoption of online P2P lending has significant value. In a global context, this study identified factors affecting online P2P lending adoption based on published research in management Information Systems (MIS) field. These factors were investigated in China, Germany, and the United States, and a comparative examination was conducted. A survey is currently under implementation to collect users’ perceptions of characteristics of online P2P lending service and their intentions to adopt online P2P lending services in China, Germany, and USA. This study employs the theoretical lens of cultural dimensions as a background theory to elucidate and explain cultural differences in the context of online P2P lending where unforeseeable uncertainties, such as risk, trust, and benefit, inevitably exist and may exhibit different influences on consumers from different cultures. It is hoped that studying the cultural aspects will further advance our understanding of cultural differences in MIS research and improve IT-driven cross-cultural coordination.