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Table 14 Variable definitions

From: Voluntary disclosures and peer-to-peer lending decisions: Evidence from the repeated game

Variable Description
Full Whether the loan listing is funded or not. It takes a value of 1 when the loan listing is funded, 0 otherwise.
Bidnumber Bid activity. It is measured by using the number of bids after standardization by the amount of the loan listing.
Score Voluntary disclosures. It is the sum of 0–1 indicators for the voluntary information disclosure.
ScoreObj Objective information disclosed voluntarily. It is the sum of 0–1 indicators for the objective voluntary information disclosure.
ScoreSub Subjective information disclosed voluntarily. It is the sum of 0–1 indicators for the subjective voluntary information disclosure.
Ltimes Borrowing experience dummy. It takes a value of 1 when the borrower has never issued the loan listing on the ppdai platform, 0 otherwise.
Lsuccess Successful borrowing experience dummy. It takes a value of 1 when the borrower has never successfully gotten a loan on the ppdai platform, 0 otherwise.
Times Borrowing experience. It is the times of borrowing.
Success Successful borrowing experience. It is the times of the borrower’s loan listing to be funded.
Lnamount Loan amount. It is the natural logarithm of the amount of the loan listing.
Months Loan term. The loan term is 3–12 months on ppdai platform.
Interest Interest rate at which a loan listed is funded. It is annualized.
Bgrade Borrower’s credit rating. It takes a value of 1 when the borrower’s credit rating is HR, two when the borrower’s credit rating is E, three when the borrower’s credit rating is D, four when the borrower’s credit rating is C, five when the borrower’s credit rating is B, six when the borrower’s credit rating is A. This credit rating is judged by the ppdai platform according to many factors including identification data, borrowing history and platform activity, and so on.
Idnumber Number of authentication, including the identity authentication, mobile phone real-name authentication and video authentication. The borrower must provide at least one authentication and at most three authentications.
Guarantee An indicator variable that takes the value of 1 when the loan listing has a guarantee attribution, 0 otherwise.
Gender An indicator variable that takes the value of 1 when the borrower is male, 0 otherwise.
Age The borrower’s age. It takes a value of 1 when age ranges from 20 to 25, 2 when age ranges from 26 to 31, 3 when ranges from 32 to 38, 4 when age is above 39.
Worker Salaried dummy. It takes a value of 1 when the occupation of the borrower is salaried, 0 otherwise.
Seller Seller dummy. It takes a value of 1 when the occupation of the borrower is an online seller, 0 otherwise.
Boss Boss dummy. It takes a value of 1 when the occupation of the borrower is the boss of a private company, 0 otherwise.
Student Student dummy. It takes a value of 1 when the borrower is a student, 0 otherwise.
Reputation The times of repayments on time.
Delinquency An indicator variable that equals 1 when the loan is 90 days past due, 0 otherwise.