@article{ART003214198},
author={Kwak, Jeong Woo and Lee, Seong Won},
title={Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2025},
volume={35},
number={2},
pages={61-74}
TY - JOUR
AU - Kwak, Jeong Woo
AU - Lee, Seong Won
TI - Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis
JO - Korea Real Estate Review
PY - 2025
VL - 35
IS - 2
PB - korea real estate research institute
SP - 61
EP - 74
SN - 2092-5395
AB - This study analyzes the determinants of business performance in Korea’s online investment-linked financing business using panel data. The analysis revealed that profitability (return on assets) is positively influenced by asset size, loan balance-to-origination ratio, and diversification index (degree of specialization). In contrast, cost efficiency, mortgage loans, and accounts receivable-backed loans negatively impact profitability. These findings suggest that P2P financial firms should increase the proportion of long-term loans, carefully manage mortgage loans, and efficiently control operating costs while adopting a specialization strategy that focuses on specific loan categories to enhance profitability. Despite the characteristics of a platform business, the diversification strategy did not contribute to profitability. This implies that for startups with limited resources, concentrating on core business areas is more effective. It also highlights that the existing mortgage loan-focused business strategy is inefficient in terms of profitability. Therefore, a differentiated and specialized strategic approach is essential for sustainable growth.
KW - Online Investment-linked Financial Business;Panel Data Analysis;Business Performance;Mortgage Loans;Loan Diversification
DO -
UR -
ER -
Kwak, Jeong Woo and Lee, Seong Won. (2025). Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis. Korea Real Estate Review, 35(2), 61-74.
Kwak, Jeong Woo and Lee, Seong Won. 2025, "Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis", Korea Real Estate Review, vol.35, no.2 pp.61-74.
Kwak, Jeong Woo, Lee, Seong Won "Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis" Korea Real Estate Review 35.2 pp.61-74 (2025) : 61.
Kwak, Jeong Woo, Lee, Seong Won. Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis. 2025; 35(2), 61-74.
Kwak, Jeong Woo and Lee, Seong Won. "Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis" Korea Real Estate Review 35, no.2 (2025) : 61-74.
Kwak, Jeong Woo; Lee, Seong Won. Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis. Korea Real Estate Review, 35(2), 61-74.
Kwak, Jeong Woo; Lee, Seong Won. Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis. Korea Real Estate Review. 2025; 35(2) 61-74.
Kwak, Jeong Woo, Lee, Seong Won. Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis. 2025; 35(2), 61-74.
Kwak, Jeong Woo and Lee, Seong Won. "Impact of the Mortgage Loan Concentration Strategy on the Profitability of P2P Lending Firms : A Panel Data Analysis" Korea Real Estate Review 35, no.2 (2025) : 61-74.
