Personal Communication in an Automated World: Evidence from Loan Repayments

• 成果类型: Article
• 署名作者: Laudenbach, Christine; Siegel, Stephan
• 署名单位: Goethe University Frankfurt; University of Washington; University of Washington Seattle; Leibniz Association; Ifo Institut
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082
• DOI: 10.1111/jofi.13388
• 发表日期: 2025
• 关键词: benefits; fairness

摘要

We examine the effect of personal, two-way communication on the payment behavior of delinquent borrowers. Borrowers who speak with a randomly assigned bank agent are significantly more likely to successfully resolve the delinquency relative to borrowers who do not speak with a bank agent. Call characteristics related to the human touch of the call, such as the likeability of the agent's voice, significantly affect payment behavior. Borrowers who speak with a bank agent are also significantly less likely to become delinquent again. Our findings highlight the value of a human element in interactions between financial institutions and their customers.