. 2021 Oct 16;47(6):1825–1846. doi: 10.1007/s10961-021-09899-6

Table 6.

Granger causality tests

Equation (1)	ECF amounts raised	Equation (2)	P2P loan amounts	Equation (3)	Net Consumer loans	Equation (4)	Nasdaq returns
Excluded:	Prob > chi²	Excluded:	Prob > chi²	Excluded:	Prob > chi²	Excluded:	Prob > chi²
P2P Loan Amounts	0.274	ECF Amounts Raised	0.318	ECF Amounts Raised	0.756	ECF Amounts Raised	0.368
Net Consumer Loans	0.030	Net Consumer Loans	0.148	P2P Loan Amounts	0.063	P2P Loan Amounts	0.577
NASDAQ Returns	0.248	NASDAQ Returns	0.646	NASDAQ Returns	0.339	Net Consumer Loans	0.170
All	0.035	All	0.169	All	0.286	All	0.185

This table reports the results of the Granger Causality Tests between weekly ECF amounts raised, weekly Prosper loan amounts, weekly net consumer loans, and weekly NASDAQ returns. Data correspond to the period between May 12th, 2016 and June 30th, 2020