Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market
In this paper, we examine the dynamic cross-correlations between participants’ attentions to the P2P lending and offline loan (lending) with the method of multifractal detrended cross-correlation analysis (MF-DCCA). The empirical result mainly shows that (1) the power-law cross-correlation exists be...
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| Format: | Article |
| Language: | English |
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Wiley
2019-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2019/1635793 |
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| author | Yingxiu Zhao Wei Zhang Xiangyu Kong |
| author_facet | Yingxiu Zhao Wei Zhang Xiangyu Kong |
| author_sort | Yingxiu Zhao |
| collection | DOAJ |
| description | In this paper, we examine the dynamic cross-correlations between participants’ attentions to the P2P lending and offline loan (lending) with the method of multifractal detrended cross-correlation analysis (MF-DCCA). The empirical result mainly shows that (1) the power-law cross-correlation exists between participants’ attentions to the P2P lending and offline loan and is persistent, (2) the cross-correlation is more stable in the short term, and (3) the relation subjected to a small fluctuation is more cross-correlated than that under larger ones. Furthermore, we carry out the robustness test to verify the result. The Granger causality test indicates that participants’ attentions to P2P lending and offline loan Granger cause each other in the short term. |
| format | Article |
| id | doaj-art-a0a5b4fc55414c75a35dbb61cef0f751 |
| institution | DOAJ |
| issn | 1076-2787 1099-0526 |
| language | English |
| publishDate | 2019-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-a0a5b4fc55414c75a35dbb61cef0f7512025-08-20T03:19:56ZengWileyComplexity1076-27871099-05262019-01-01201910.1155/2019/16357931635793Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending MarketYingxiu Zhao0Wei Zhang1Xiangyu Kong2College of Management and Economics, Tianjin University, Tianjin, ChinaCollege of Management and Economics, Tianjin University, Tianjin, ChinaCollege of Management and Economics, Tianjin University, Tianjin, ChinaIn this paper, we examine the dynamic cross-correlations between participants’ attentions to the P2P lending and offline loan (lending) with the method of multifractal detrended cross-correlation analysis (MF-DCCA). The empirical result mainly shows that (1) the power-law cross-correlation exists between participants’ attentions to the P2P lending and offline loan and is persistent, (2) the cross-correlation is more stable in the short term, and (3) the relation subjected to a small fluctuation is more cross-correlated than that under larger ones. Furthermore, we carry out the robustness test to verify the result. The Granger causality test indicates that participants’ attentions to P2P lending and offline loan Granger cause each other in the short term.http://dx.doi.org/10.1155/2019/1635793 |
| spellingShingle | Yingxiu Zhao Wei Zhang Xiangyu Kong Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market Complexity |
| title | Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market |
| title_full | Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market |
| title_fullStr | Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market |
| title_full_unstemmed | Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market |
| title_short | Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market |
| title_sort | dynamic cross correlations between participants attentions to p2p lending and offline loan in the private lending market |
| url | http://dx.doi.org/10.1155/2019/1635793 |
| work_keys_str_mv | AT yingxiuzhao dynamiccrosscorrelationsbetweenparticipantsattentionstop2plendingandofflineloanintheprivatelendingmarket AT weizhang dynamiccrosscorrelationsbetweenparticipantsattentionstop2plendingandofflineloanintheprivatelendingmarket AT xiangyukong dynamiccrosscorrelationsbetweenparticipantsattentionstop2plendingandofflineloanintheprivatelendingmarket |