УКР ENG

Search:


Email:  
Password:  

 REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

 FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

 PUBLISHER

Liburkina L. M.

 SITE SECTIONS

Main page

Editorial staff

Editorial policy

Annotated catalogue (2011)

Annotated catalogue (2012)

Annotated catalogue (2013)

Annotated catalogue (2014)

Annotated catalogue (2015)

Annotated catalogue (2016)

Annotated catalogue (2017)

Annotated catalogue (2018)

Annotated catalogue (2019)

Annotated catalogue (2020)

Annotated catalogue (2021)

Annotated catalogue (2022)

Annotated catalogue (2023)

Annotated catalogue (2024)

Thematic sections of the journal

Proceedings of scientific conferences


The Evolution of Debt Crowdfunding Business Models
Amalian A. W., Amalyan N. D.

Amalian, Arutiun W., and Amalyan, Natalia D. (2019) “The Evolution of Debt Crowdfunding Business Models.” Business Inform 5:174–179.
https://doi.org/10.32983/2222-4459-2019-5-174-179

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 4

Download article (pdf) -

UDC 657.412

Abstract:
The entire period after the global financial crisis unfolded, lenders suffer losses due to ultra-low interest rates, while entrepreneurs suffer from a shortage of bank loans. The emergence and accelerated development of various forms of crowdfunding, i.e, in literal translation – “funding by the crowd” has become a logical solution to the problem. The evolution of one of its varieties — namely, debt crowdfunding — is the research subject of this article. Studying activities of crowdfunding platforms allows to select six basic business models, only three of which operate on the basis of simple matching of lenders with borrowers (P2P is a model for mediation in unsecured borrowing, a balance and hybrid model). The three most recent business models of crowdfunding platforms are associated with securitizing loans, issuing transit securities and selling loans entirely. Analysis of the economic essence of the new types of platform operations gives grounds for concluding that the so-called “disintermediation” period of the market is ending, being replaced by the expansion of new financial engineering products with the corresponding subsequent development of this market.

Keywords: debt crowdfunding, platform, institutional investor, securitization, loan market, disintermediation.

Bibl.: 19.

Amalian Arutiun W. – Candidate of Sciences (Economics), Financial Director, Optimatrading LLC (office 301, 3 floor 12 Antona Tsedika Str., Kyiv, 03057, Ukraine)
Email: [email protected]
Amalyan Natalia D. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Ukrainian-American Concordia University (8-14 Turhenievska Str., Kyiv, 01601, Ukraine)
Email: [email protected]

List of references in article

“Crowdfunding's Potential for the Developing World. infoDev, Finance and Private Sector Development Department“. Washington, DC : World Bank, 2013. http://documents.worldbank.org/curated/en/409841468327411701/pdf/840000WP0Box380crowdfunding0study00.pdf
“Crowdfunding worldwide“. Official site of the Statistics Portal. 2018. https://www.statista.com/outlook/335/100/crowdfunding/worldwide
Vassallo, W. “Crowdfunding for Sustainable Entrepreneurship and Innovation“. IGI Global, 2016. https://www.igi-global.com/book/crowdfunding-sustainable-entrepreneurship-innovation/147126
Vallee, B., and Zeng, Y. “Marketplace Lending: A New Banking Paradigm?“ Working Paper 18-067 Harvard Business School. January, 2018. https://www.hbs.edu/faculty/Publication%20Files/18-067_1d1e7469-3a75-46a0-9520-bddbfda0b2b9.pdf
Belleaamme, P., Omrani, N., and Peitz, M. “The Economics of Crowdfunding Platforms“. CORE DISCUSSION PAPER 2015/15. Center for Operations Research and Econometrics. 2015. https://cdn.uclouvain.be/public/Exports%20reddot/core/documents/coredp2015_15web.pdf
“Financial Conduct Authority to crack down on crowdfunding. December 12, 2016“. Official site of Business Insider. https://www.businessinsider.com/financial-conduct-authority-to-crack-down-on-crowdfunding-2016-12
“Crowdfunding. About this Course. University of Pennsylvania“. https://www.coursera.org/learn/wharton-crowdfunding
Perkins, D. W. “Marketplace Lending: Fintech in Consumer and Small-Business Lending Congressional Research Service“. September 4, 2018. https://fas.org/sgp/crs/misc/R44614.pdf
How Zopa works. Official site of the company. https://www.zopa.com/about/how-zopa-works
Ofitsiinyi sait LendingClub. https://www.lendingclub.com/
Harzog, B. B., and Arnold, C. E. The Complete Idiot's Guide to Person-to-Person Lending. Penguin, Apr 7, 2009.
OnDeck 2018 Annual Report. Form 10-K. https://s21.q4cdn.com/249473406/files/doc_financials/annual/2018/OnDeck-2018-Annual-Report.pdf
Jones, J. “The Pure Marketplace Lending Model is Dead, the Hybrid Takes its Place“. September 26, 2016. https://www.lendacademy.com/the-hybrid-marketplace-lending-model/
“Asset Securitization. Comptroller's Handbook“. OCC. November, 1997. https://www.occ.gov/publications/publications-by-type/comptrollers-handbook/asset-securitization/pub-ch-asset-securitization.pdf
“LendingClub securitization program“. Official LendingClub site. 2017. https://www.lendingclub.com/investing/institutional/securitization
“Marketplace-Loan Plan Marks Funding Shift“. Asset-Backed Alert Newsletter April 15, 2016. https://www.abalert.com/search.pl?ARTICLE=167353
Lichtenwald, R. “Securitization in Marketplace Lending Slowed in Q4 2018“. LendIt Fintech News. January 15, 2019. https://www.lendacademy.com/securitization-in-marketplace-lending-slowed-in-q4-2018/
“Lending Club (LC) stock price, revenue and financials“. Official site of Craft.co. 2018. https://craft.co/lending-club/metrics#income-statement
Taylor, A. “The Rise of Marketplace Lending Securitization“. Lending Times. December 19, 2018. https://lending-times.com/2018/12/19/the-rise-of-marketplace-lending-securitization/

 FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

 INFORMATION

The Plan of Scientific Conferences


 OUR PARTNERS


Journal «The Problems of Economy»

  © Business Inform, 1992 - 2024 The site and its metadata are licensed under CC BY-SA. Write to webmaster