Do facial images matter? Understanding the role of private information disclosure in crowdfunding markets

作者：

Highlights：

• Lower socioeconomic status borrowers are more likely to disclose their facial image.

• Borrowers who reveal their facial image are less likely to default.

• Private information disclosure decreases funding probability in China.

• Private information disclosure increases funding probability in the US.

摘要

•Lower socioeconomic status borrowers are more likely to disclose their facial image.•Borrowers who reveal their facial image are less likely to default.•Private information disclosure decreases funding probability in China.•Private information disclosure increases funding probability in the US.

论文关键词：Private information disclosure,Facial recognition,Debt-based crowdfunding,Information asymmetry,Fintech,Facial image

论文评审过程：Received 28 January 2022, Revised 24 May 2022, Accepted 1 July 2022, Available online 4 July 2022, Version of Record 12 July 2022.

论文官网地址：https://doi.org/10.1016/j.elerap.2022.101173