Details

Autor(en) / Beteiligte

• Bu, Di
• Hanspal, Tobin
• Liao, Yin
• Liu, Yong

Titel

Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing

Ist Teil von

• Journal of financial and quantitative analysis, 2022-09, Vol.57 (6), p.2208-2250

Ort / Verlag

New York, USA: Cambridge University Press

Erscheinungsjahr

2022

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• We report the results of a longitudinal intervention with students across 5 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.