Lenders’ herding behavior in the peer-to-peer (P2P) lending platform in China is examined. Based on the data from PPdai.com, the largest online P2P lending market in China, we found that herding behavior is salient in P2P lending market in China, and such herding is associated with higher default rate.
Chen, Dongyu; Hu, Huiling; Lou, Hao; and Yong, Wang, "Herding Behavior in Online Microloan Markets: Evidence from China" (2015). WHICEB 2015 Proceedings. 84.