Research published by two University of Queensland pupils has revealed that peer-to-peer loan providers are more inclined to accept reduced monetary returns they are funding is socially and environmentally responsible if they know the project.
Jason Lejcak (Bachelor of Economics (Honours)) and Benjamin Wiltshire (Bachelor of Commerce (Honours) and Bachelor of Science) co-authored the research included in a research task with UQ’s Australian Institute for Business and Economics (AIBE), which was made thanks that are possible a scholarship given 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 small piece for the peer-to-peer financing market, they certainly were a fast-growing group of loan needs.
“Peer-to-peer economic financing platforms provide people and smaller loan providers aided by the chance to partake in social impact investing, which will be usually away from range of banking institutions and larger loan providers, ” he said.
“once you think about the economy that is sharing many people think about Uber (transportation) and AirBnB (accommodation), but peer-to-peer financing is a very exciting and competitive area that’s setting up brand new and transforming current markets. ”
Mr Wiltshire stated he sooo want 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 now available credit score metrics, we believe it may attract a more substantial audience and improve 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 realize, our research recommends applying a social impact metric could replace the game for renewable power lending on peer-to-peer platforms. ”
Mr Lejcak and Mr Wiltshire will be the 2018 recipients of this 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 taking care of 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 contact with various perspectives – from Jason and our scholastic advisors – and discover ways to bring our tips, experiences and skills together to look at and play a role in the discussion with this pressing issue. ”
Mr Lejcak thanked Mr McLennan and Mr Howes for providing this substantial scholarship.
“As a student, comprehending 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 international areas Analysts at Citi Bank in Sydney in February 2019.
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