中国P2P网络借贷平台违约影响因素研究

发布时间：2018-09-18 18:12

【摘要】：中国第一家正规意义上的P2P网络借贷平台(以下简称“P2P平台”)“拍拍贷”成立于2007年6月距今已有将近9年多的时间,累积完成230万笔借款,1300万笔有效投资。然而P2P整体市场发展并不像“拍拍贷”这样一帆风顺,据第三方平台数据显示,P2P平台发展10年间累积出现P2P平台6000余家其中问题平台累计出现达60%。问题平台出现的总体原因包括自身经营不善、资金链断裂、恶意竞争、恶意诈骗等。“E租宝”事件影响之广、范围之大给人们敲响了警钟。2016年涉嫌“裸贷”的“借贷宝”平台又牵涉出了很多P2P平台从事违法活动的地下灰色链条。这无疑加快了国家对于P2P平台的监管力度和对涉嫌违法平台的打击力度。国务院办公厅、工信部、工商局、教育部、银监会、公安部在2016年印发了《网络借贷信息中介机构业务活动管理暂行办法》等9条相关文件,加大对互联网金融行业的监管力度。2016年下旬,P2P平台的专项整治已经有序进行,良性退出的平台占比逐渐增多,然而平台违约事件依旧时有发生,在行业彻底规范前,对于投资者而言如何选择投资平台显得尤为重要。因此本文希望通过对P2P平台相关数据的分析从而找到P2P平台违约的相关影响因素。本人通过第三方平台、领英、国家工商局全国企业信用信息公示系统搜集到相关平台3015家,有效数据33165个,通过描述性特征确立变量,运用Logit模型对数据进行回归分析,最终得出结论:违约平台的信息披露制度并不完善,平均预期收益率高于存续平台。支持债权转让、拥有资金托管、存续时间长、实缴注册资本高的平台相对不容易发生违约,创始人拥有金融相关从业经验会在企业整体方向上做出更好的掌控,使得平台运营更加平稳不易发生违约。希望可以为投资者选取P2P平台时提供帮助,并对监管政策提出建议,为之后的研究者做铺垫。
[Abstract]:PPDAI, the first formal P2P network lending platform (hereinafter referred to as "P2P platform") in China, has been established for more than nine years since June 2007. It has accumulated 2.3 million loans and 13 million effective investments. However, the overall market development of P2P is not as smooth as PPDAI. According to third-party platform data, there are more than 6000 P2P platforms in the past 10 years. The overall reasons for the emergence of the problem platform include poor management of their own, capital chain break, malicious competition, malicious fraud, etc. The "E Rent Treasure" incident has a wide impact. The scope is a wake-up call. The 2016 "Lending Treasure" platform, which is suspected of being "naked", also involves a number of underground grey chains of peer-to-peer platforms engaged in illegal activities. This undoubtedly accelerates the state to the P2P platform's supervision and the attack on the suspected illegal platform. The General Office of the State Council, the Ministry of Industry and Information Technology, the Industry and Commerce Bureau, the Ministry of Education, the Banking Regulatory Commission, and the Ministry of Public Security issued in 2016 the interim measures for the Administration of the Business activities of Network Lending Information intermediaries, and other relevant documents. Step up the supervision of the Internet financial industry. The special regulation of P2P platforms in late 2016 has been carried out in an orderly manner, and the proportion of benign exiting platforms has gradually increased. However, incidents of platform default still occur from time to time, before the industry is completely standardized. For investors how to choose investment platform is particularly important. Therefore, this paper hopes to find the relevant factors of P2P platform default through the analysis of P2P platform related data. Through the third-party platform, LinkedIn, the State Administration of Industry and Commerce, the national enterprise credit information publicity system collected 3015 related platforms, effective data 33165, through descriptive characteristics to establish variables, using the Logit model to carry out regression analysis of the data, The conclusion is that the information disclosure system of default platform is not perfect and the average expected return rate is higher than that of survival platform. Supporting the transfer of creditor's rights, having funds in custody, having a long life span, and having a high paid-in registered capital platform are relatively less prone to default, and founders who have experience in financial related work will have better control over the overall direction of the enterprise. Make platform operation more stable not easy to default. Hope to help investors choose P2P platform, and make recommendations on regulatory policy, for future researchers to prepare the ground.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.282;F724.6;F832.4

【参考文献】