+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Possibilities and constrains of crowdlending platform development

Vol. 27, Iss. 11, NOVEMBER 2021

Received: 1 July 2021

Received in revised form: 13 September 2021

Accepted: 27 September 2021

Available online: 29 November 2021

Subject Heading: INVESTING

JEL Classification: D53, G11, G23

Pages: 2479–2502

https://doi.org/10.24891/fc.27.11.2479

Evgenii V. POPOV Ural Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration (RANEPA) Yekaterinburg, Russian Federation
epopov@mail.ru

https://orcid.org/0000-0002-5513-5020

Anna Yu. VERETENNIKOVA Institute of Economics, Ural Branch of Russian Academy of Sciences Yekaterinburg, Russian Federation
vay_uiec@mail.ru

https://orcid.org/0000-0003-1808-7856

Sergei A. FEDOREEV Sverdlovsk Regional Entrepreneurship Support Fund, Gornozavodsky Administrative District, Nizhny Tagil, Russian Federation
saf@sofp.ru

ORCID id: not available

Subject. The article addresses crowdlending platforms as an alternative way to invest resources.
Objectives. We focus on identifying opportunities and limitations for the development of crowdlending platforms.
Methods. The paper draws on the systems analysis tools. It also applies a structure-behavior-result (SBR) model, which enables to characterize the external environment of crowdlending platforms to identify their opportunities and constrains.
Results. We identify opportunities and limitations of stakeholders involved in the development of crowdlending, including investors, borrowers, operators of digital platforms, the State and banks. The paper shows that both the demand and supply for the development of crowdlending are created. However, the main limitations in the development of this type of activity are associated mainly with institutional factors. Transparency in the activity of crowdlending platforms will mitigate risks, increase the level of trust of owners and users of resources. The improvement of legislation in this field will help preclude misconduct of economic agents in using this tool.
Conclusions. The findings can be used by federal and regional authorities in strategy implementation for the development of small and medium-sized businesses in the Russian Federation, as well as by bodies of legislative power in the development of regulatory framework for collective investment tools dissemination in Russia.

Keywords: collective investment, crowdlending platform, economic agent, opportunities and constrains

References:

  1. Felson M., Spaeth J.L. Community Structure and Collaborative Consumption: A Routine Activity Approach. American Behavioral Scientist, 1978, vol. 21, iss. 4, pp. 614–624. URL: Link
  2. Lessig L. Remix: Making Art and Commerce Thrive in the Hybrid Economy. New York, Penguin Books, 2009, 352 p.
  3. Botsman R., Rogers R. What’s Mine Is Yours: The Rise of Collaborative Consumption. New York, Harper Collins Publishers, 2010, 304 p.
  4. Schwab K. Chetvertaya promyshlennaya revolyutsiya [The Fourth Industrial Revolution]. Moscow, Eksmo Publ., 2016, 138 p.
  5. Soifer T.V. [Charitable organizations: Problems of civil-law status in the conditions of development of the sharing economy]. Vestnik Universiteta imeni O.E. Kutafina (MGYuA) = Courier of Kutafin Moscow State Law University (MSAL), 2019, no. 2, pp. 64–74. URL: Link (In Russ.)
  6. Bogdanova E.E. [Legal regulation of relations on the collective use of goods and services (sharing economy) in the conditions of the development of digital technologies: Tendencies of the development of legislation and judicial practice]. Pravo i tsifrovaya ekonomika = Law and Digital Economy, 2020, no. 2, pp. 38–40. (In Russ.)
  7. Belokonev S.Yu., Dudin M.N., Khokonov A.A. [The effect of common consumption and network information technologies on public processes]. Ekonomika, predprinimatel'stvo i pravo = Journal of Economics, Entrepreneurship and Law, 2019, vol. 9, no. 4, pp. 445–462. URL: Link (In Russ.)
  8. Malyshkin E.V., Gafarova Yu.Yu., Pogrebnyak A.A. [Undepletability of distributed things: Neighborhood and wealth]. Sotsiologiya nauki i tekhnologii = Sociology of Science and Technology, 2019, vol. 10, no. 3, pp. 89–102. URL: Link (In Russ.)
  9. Maier E. Supply and demand on crowdlending platforms: Connecting small and medium-sized enterprise borrowers and consumer investors. Journal of Retailing and Consumer Services, 2016, vol. 33, pp. 143–153. URL: Link
  10. Septiani H.L.D., Sumarwan U., Yuliati L.N., Kirbrandoko K. Understanding the Factors Driving Farmers to Adopt Peer-to-Peer Lending Sharing Economy. International Review of Management and Marketing, 2020, vol. 10, no. 6, pp. 13–21. URL: Link
  11. Alekseev S.A. [Crowdinvesting in small business in the construction]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, no. 11-3, pp. 650–652. (In Russ.)
  12. Slimane F.B., Rousseau A. Crowdlending campaigns for renewable energy: Success factors. Journal of Cleaner Production, 2020, vol. 249, no. 119330. URL: Link
  13. Bavoso V. The promise and perils of alternative market-based finance: The case of P2P lending in the UK. Journal of Banking Regulation, 2020, vol. 21, pp. 395–409. URL: Link
  14. Pashkovskaya I.V. [Crowdlending operations: Basic models and prospects of development]. Vestnik Evraziiskoi nauki = The Eurasian Scientific Journal, 2018, vol. 10, no. 3. URL: Link (In Russ.)
  15. Popov E.V., Veretennikova A.Yu., Safronova A.A. Mathematical Support for Financing Social Innovations. Mathematics 2020, vol. 8, iss. 12. URL: Link
  16. Mason E.S. Economic Concentration and the Monopoly Problem. Cambridge, Harvard University Press, 1957, 427 p.
  17. Bain J.S. Pricing, Distribution and Employment: Economics of an Enterprise System. New York, Henry Holt, 1958, 732 p.
  18. Porter M.E. Konkurentnaya strategiya. Metodika analiza otraslei i konkurentov [Competitive Strategy: Techniques for Analyzing Industries and Competitors]. Moscow, Al'pina Biznes Buks Publ., 2005, 454 p.
  19. Sanchís-Pedregosa C., Berenguer E., Albort-Morant G., Sanz J. Guaranteed Crowdlending Loans: A Tool for Entrepreneurial Finance Ecosystem Sustainability. The Amfiteatru Economic Journal, 2020, vol. 22, no. 55, pp. 775–791.
  20. Moreno-Moreno A., Sanchis-Pedregosa C., Berenguer E. Success Factors in Peer-to-Business (P2B) Crowdlending: A Predictive Approach. IEEE Access, 2019, vol. 7, pp. 148586–148593. URL: Link
  21. Sal'nikova K.V., Permyakov R.V. [Analytical review of the state of the crowdfunding and crowdlending market in Russia]. Vestnik Evraziiskoi nauki = The Eurasian Scientific Journal, 2021, vol. 13, no. 2. URL: Link (In Russ.)

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 5
May 2024

Archive