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| Value of Academic Qualifications and Regional Heterogeneity in the Credit Market |
| LIU Qiong1,2,CHI Renyong3 |
| 1.School of Management, Zhejiang University of Technology
2.School of Economics, Zhejiang University of Technology
3.China Institute for Small and Medium Enterprises, Zhejiang University of Technology |
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Abstract The rise of online lending platforms has provided a new window of opportunity for studying the actual value of borrowers' academic qualifications in the credit market and the mechanism of influence. Relying on the public business data of the Online Loaning Platform A, which is widely used in China, it is found that the credit rationing in the credit market has the effect of distinguishing the value of academic qualifications, and those with a high degree of education have an advantage in obtaining loans and lower borrowing costs. The specific utility of the value of academic qualifications exists with regional differences. Borrowers with the same educational background can obtain more financing advantages in the eastern regions than in the central and western regions. The research results show thatacademic qualifications can play a greater role in the identification of risks in the credit market as a visible label that is easy to be observed. In the evaluation of educational value, we should fully consider the level of regional economic and social development and pay attention to regional heterogeneity.
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Received: 07 February 2021
Published: 15 June 2021
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Corresponding Authors:
LIU Qiong
E-mail: 227342978@qq.com
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2021, Vol. 41 
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