P2P LENDING INTEREST RATES SENSITIVITY TO SOCIOECONOMIC FACTORS

IVAN TCHEMYAKIN,
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS

Abstract. The present paper analyses how sensitive P2P credit interest rates are to the socioeconomic data declared by P2P credit users. The reasons why credit users are choosing P2P platforms as an alternative to commercial banks include: lower interest rate, shorter loan processing times, fewer document requirements and the online nature of the process. Of these, the most winning feature for the borrower is the lower interest rate. According to the study, in 94% of cases, a one-step adjustment in a user’s credit rating triggers an interest rate change of 0.654%, while the length of their credit history and the purpose of their loan have no impact on the chosen interest rate.

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CONFIRMATION OF THE RELATIONSHIP BETWEEN STOCK MARKET PARAMETERS AND INTERBANK CREDIT MARKET ON THE EXAMPLE OF THE KAZAKHSTAN STOCK EXCHANGE

MAGOMET YANDIEV
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS
ALTANA ANDZHAEVA 
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS

Abstract: The paper presents calculations confirming practical applicability of the earlier formulated theoretical model that explains the relationship between the rate of one-day loans in the interbank market, volume of speculative investments and total securities under which transactions have been closed. The paper is based on the Kazakhstan stock exchange data.

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EARLY WARNING SYSTEM FOR BANKING LIQUIDITY CRISES

ALENA STARKOVA
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS

Abstract. The present paper is a review of two of the most widely used approaches to constructing an early warning system for banking crises: the econometric and the signals approach. Building upon the econometric approach, the paper goes on to construct its own early warning system for banking liquidity crises that, through analysing behaviour of chosen indicators, is able to predict a liquidity crisis one year ahead of its likely onset.

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SUKUK VS CONVENTIONAL BONDS: A VALUE-AT-RISK BASED COMPARATIVE ANALYSIS

BAKHSHI KOSTANDYAN
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS

Abstract. The present paper looks into the question of whether including sukuk (Islamic bonds) in the bond portfolio provides the investor with diversification benefits and how they what might be quantified. We analysed the sovereign bonds of Bahrain, Pakistan, Qatar, Malaysia, and the UAE. The conclusion is that using sukuk to diversify a portfolio yields substantial benefits.

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COMPARISON OF ISLAMIC AND CONVENTIONAL BANK STOCKS BY VALUE-AT-RISK METHOD
NURSULTAN ABDRASHEV
LOMONOSOV MOSCOW STATE UNIVERSITY, FACULTY OF ECONOMICS

Abstract. This article is focused on comparison of Islamic and conventional bank stock volatility by VaR (Value-At-Risk) risk assessment method. The performed analysis has shown that factors affecting stock values for different financial models are very similar, and that including stocks of both Islamic and conventional banks in an investor’s portfolio gives no significant benefits in terms of diversification.
Keywords: Islamic finance, Islamic banking, market risk, portfolio risk, volatility

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