Social Solidarity, Accessibility, Risk-Taking A Study of Online Loan Borrowers
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Published:
Dec 10, 2024
Keywords:
Social Solidarity,
Accessibility of Loans,
Risk-Taking,
Online Loan,
Peer-to-Peer (P2P) Lending
Main Article Content
Abstract
This study aims to analyze the relationship between social solidarity, loan accessibility, and risk-taking behavior in online loan borrowers. Online loans have become an increasingly popular financial solution in the digital era, particularly among individuals with no emergency funds, limited access to formal financial institutions, and urgent requirements. The process of financial digitalization simplifies the process of obtaining online loans; however, it also leaves individuals susceptible to debt pitfalls if they are unable to repay loans within the designated time frame. Previous researchers have conducted a significant amount of research on online loans, including discussions regarding the law, vulnerability, impact, and perception of these loans. Nevertheless, no research has been identified that investigates the rationale behind individuals' decisions to select online loans. This study employs a literature review to gather scientific articles that discuss online loans, identify research gaps using the Publish or Perish and VOSViewer platforms, and collect data from the Financial Services Authority to gain a comprehensive understanding of the online loan phenomenon in Indonesia. This study underscores that the determining factors for individuals to select online loans are external forces (social solidarity) and individual choices in accessing online loans, as well as risk-taking behavior to obtain loans. The research results indicate that the number of loans accessed by individuals in Indonesia has increased. In comparison to males, the number of borrowers is relatively high for women. The study's findings also indicate that the potential for accessing online loans is significantly increased by the combination of social solidarity (organic solidarity), the ease of accessing loans, and individual characteristics that encourage risk-taking. Conversely, the potential for accessing loans is relatively low when individuals are unwilling to take risks, despite the organic social solidarity of the community and the availability of loans.
Article Details
How to Cite
Anggreta, D. K., Dzulqarnain, M. F., Syafawani, R., Amin, M. L., Armilus, R., Aprilla, V. R., & Albeta, F. R. (2024). Social Solidarity, Accessibility, Risk-Taking A Study of Online Loan Borrowers. Jurnal Wawasan Nusantara (Jatra), 1(1), 67–74. Retrieved from https://jurnal.socialcornerindonesia.com/index.php/JATRA/article/view/anggreta
Section
Articles
Article Sidebar
Accessibility of Loans,
Risk-Taking,
Online Loan,
Peer-to-Peer (P2P) Lending
Main Article Content
Abstract
This study aims to analyze the relationship between social solidarity, loan accessibility, and risk-taking behavior in online loan borrowers. Online loans have become an increasingly popular financial solution in the digital era, particularly among individuals with no emergency funds, limited access to formal financial institutions, and urgent requirements. The process of financial digitalization simplifies the process of obtaining online loans; however, it also leaves individuals susceptible to debt pitfalls if they are unable to repay loans within the designated time frame. Previous researchers have conducted a significant amount of research on online loans, including discussions regarding the law, vulnerability, impact, and perception of these loans. Nevertheless, no research has been identified that investigates the rationale behind individuals' decisions to select online loans. This study employs a literature review to gather scientific articles that discuss online loans, identify research gaps using the Publish or Perish and VOSViewer platforms, and collect data from the Financial Services Authority to gain a comprehensive understanding of the online loan phenomenon in Indonesia. This study underscores that the determining factors for individuals to select online loans are external forces (social solidarity) and individual choices in accessing online loans, as well as risk-taking behavior to obtain loans. The research results indicate that the number of loans accessed by individuals in Indonesia has increased. In comparison to males, the number of borrowers is relatively high for women. The study's findings also indicate that the potential for accessing online loans is significantly increased by the combination of social solidarity (organic solidarity), the ease of accessing loans, and individual characteristics that encourage risk-taking. Conversely, the potential for accessing loans is relatively low when individuals are unwilling to take risks, despite the organic social solidarity of the community and the availability of loans.