Quotation Bu, Di, Hanspal, Tobin, Liao, Yin, Liu, Yong. 2020. Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing. Journal of Financial and Quantitative Analysis (JFQA).


RIS


BibTeX

Abstract

We report the results of a longitudinal intervention with students across five universities in China designed to reduce online consumer debt. We allocate participants to either a financial literacy treatment group, a self-control treatment group, or a zero-touch control group. Our self-control training intervention features detailed tracking of spending and borrowing, budgeting, and introspection about consumption choices. This intervention reduces online borrowing and delinquency charges, mainly driven by a reduction in entertainment-related spending and borrowing. In contrast, financial literacy interventions improve test scores but only marginally affect borrowing. Our results suggest that cultivating self-regulation and budgeting skills can improve borrowing behavior on e-commerce platforms.

Tags

Press 'enter' for creating the tag

Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of Financial and Quantitative Analysis (JFQA)
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, STRAT-A, VW-A, WH-A
Language English
Title Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
Year 2020
DOI https://dx.doi.org/10.2139/ssrn.3469571
Open Access N

Associations

People
Hanspal, Tobin (Details)
External
Bu, Di (Macquarie University, Australia)
Liao, Yin (Macquarie University, Australia)
Liu, Yong (Wuhan University of Science and Technology, China)
Organization
Institute for Finance, Banking and Insurance IN (Details)
Google Scholar: Search