浙江省网络借贷平台经营风险的影响因素研究
发布时间：2018-07-23 08:34
【摘要】：经营风险因素的预测是金融领域的重要研究课题之一,公司运营的经营风险困境既关系到公司的战略制定,也会间接波及到投资者的投资情绪,因此正确的预测企业的经营风险因素具有重要的现实意义。网络借贷平台陷入经营困境是一个循序渐进的过程,由公司经营的问题逐渐恶化到了财务问题,直至破产和跑路清算。本论文试图采用网络借贷平台经营数据和引用实证模型,为了增加网络借贷平台经营者对经营风险重视和提高网络借贷平台投资者对投资风险的关注。本研究目的在于通过网络借贷平台的研究为平台经营者降低平台经营风险提供对策,并为平台投资者识别平台经营风险提供建议。对风险影响因素依次进行分析,并提出相应解决建议,为我国网络借贷平台参与者和监管者们提供一些力所能及的借鉴,从而能够让网络借贷平台发挥出其信用中介作用。为促进网络借贷平台行业健康稳定发展,作为补充支持实体经济的发展。本文的研究框架如下:首先,分析国内外网络借贷平台的发展历程和所面临的风险,为网络借贷平台经营风险的影响因素研究做出铺垫。论文着重研究网络借贷行业国内外和浙江省发展具体情况和风险因素,并且重点分析了我国目前网络借贷平台现状,分析网络借贷平台运营的经营风险因素。其次,重点研究浙江省范围以内的网络借贷平台经营风险、选取306家网络借贷平台为样本;在样本范围内重点收集网络借贷平台经营的十个变量,分析网络借贷平台经营风险的影响;引入二元Logistic模型,通过二元Logistic模型分析网络借贷平台经营风险因素的影响变量。再次,根据二元Logistic实证模型的结果做出研究结论,网络借贷平台正常运营与平台拥有资金托管、债权转让、风险准备金、低于15%的收益率、抵押质押产品正相关;网络借贷平台正常运营与平台拥有保证担保产品、信用产品负相关;网络借贷平台正常运营与地区、股东背景、投资期限、公司人数规模无关。实证分析网络借贷平台经营风险因素的同时,并对政府的监管政策提出了建议。第一、建立网络借贷平台风险准备金;第二、建立网络借贷平台资金托管;第三、建立网络借贷平台财产保险;第四、建立强制信息披露机制。最后并提出了文章的不足与创新点,并对我国网络借贷平台进行了研究展望。本文的创新之处在于通过以往学者研究基础之上,研究浙江省网络借贷平台行业的经营风险因素,并运用浙江省网络借贷平台的十组变量数据进行实证。
[Abstract]:The prediction of operational risk factors is one of the important research topics in the financial field. The plight of operating risk is not only related to the company's strategic formulation, but also indirectly affects the investor's investment sentiment. Therefore, it is of great practical significance to correctly predict the business risk factors of enterprises. It is a gradual and gradual process that the network loan platform falls into trouble. The problem of the company's operation has gradually deteriorated to the financial problem, until it went bankrupt and ran away from liquidation. This paper attempts to use the online lending platform management data and empirical model to increase the network lending platform operators to pay attention to the operating risk and to enhance the network lending platform investors' attention to the investment risk. The purpose of this study is to provide countermeasures for platform operators to reduce platform operating risks and provide suggestions for platform investors to identify platform operating risks through the research of online lending platform. The paper analyzes the risk influencing factors in turn, and puts forward corresponding solutions, which can be used as a reference for the participants and regulators of the online lending platform in our country, so that the online lending platform can play its role as a credit intermediary. In order to promote the healthy and stable development of online lending platform industry, as a supplement to support the development of the real economy. The research framework of this paper is as follows: firstly, this paper analyzes the development history and the risks faced by the domestic and foreign online lending platforms, which pave the way for the research on the influencing factors of the operating risks of the online lending platforms. This paper focuses on the specific situation and risk factors of the development of online lending industry at home and abroad and Zhejiang Province, and focuses on the analysis of the current situation of China's network lending platform and the operational risk factors of the operation of the network lending platform. Secondly, the paper focuses on the risk of online lending platform in Zhejiang Province, and selects 306 online lending platforms as samples. In the sample scope, it focuses on collecting ten variables of network lending platform operation. This paper analyzes the influence of the operating risk of the network lending platform, introduces the binary Logistic model, and analyzes the influence variables of the operating risk factor of the network loan platform through the dual logistic model. Thirdly, according to the results of the binary Logistic empirical model, the conclusion is that the normal operation of the online lending platform is positively related to the platform's ownership of capital custody, creditor's rights transfer, risk reserve, yield below 15%, and mortgage pledge product. The normal operation of the network lending platform is negatively related to the guarantee product and the credit product, and the normal operation of the network loan platform has nothing to do with the region, the background of shareholders, the duration of investment, and the size of the company. This paper empirically analyzes the risk factors of network lending platform, and puts forward some suggestions on the government's supervision policy. First, the establishment of network lending platform risk reserve; second, the establishment of network lending platform fund custody; third, the establishment of network lending platform property insurance; fourth, the establishment of mandatory information disclosure mechanism. Finally, the paper puts forward the deficiency and innovation of the article, and looks forward to the research of China's network lending platform. The innovation of this paper lies in the research on the risk factors of the network lending platform industry in Zhejiang Province based on the previous scholars' research, and the empirical analysis is carried out by using the ten sets of variables of the network lending platform of Zhejiang Province.
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F724.6;F832.4
[Abstract]:The prediction of operational risk factors is one of the important research topics in the financial field. The plight of operating risk is not only related to the company's strategic formulation, but also indirectly affects the investor's investment sentiment. Therefore, it is of great practical significance to correctly predict the business risk factors of enterprises. It is a gradual and gradual process that the network loan platform falls into trouble. The problem of the company's operation has gradually deteriorated to the financial problem, until it went bankrupt and ran away from liquidation. This paper attempts to use the online lending platform management data and empirical model to increase the network lending platform operators to pay attention to the operating risk and to enhance the network lending platform investors' attention to the investment risk. The purpose of this study is to provide countermeasures for platform operators to reduce platform operating risks and provide suggestions for platform investors to identify platform operating risks through the research of online lending platform. The paper analyzes the risk influencing factors in turn, and puts forward corresponding solutions, which can be used as a reference for the participants and regulators of the online lending platform in our country, so that the online lending platform can play its role as a credit intermediary. In order to promote the healthy and stable development of online lending platform industry, as a supplement to support the development of the real economy. The research framework of this paper is as follows: firstly, this paper analyzes the development history and the risks faced by the domestic and foreign online lending platforms, which pave the way for the research on the influencing factors of the operating risks of the online lending platforms. This paper focuses on the specific situation and risk factors of the development of online lending industry at home and abroad and Zhejiang Province, and focuses on the analysis of the current situation of China's network lending platform and the operational risk factors of the operation of the network lending platform. Secondly, the paper focuses on the risk of online lending platform in Zhejiang Province, and selects 306 online lending platforms as samples. In the sample scope, it focuses on collecting ten variables of network lending platform operation. This paper analyzes the influence of the operating risk of the network lending platform, introduces the binary Logistic model, and analyzes the influence variables of the operating risk factor of the network loan platform through the dual logistic model. Thirdly, according to the results of the binary Logistic empirical model, the conclusion is that the normal operation of the online lending platform is positively related to the platform's ownership of capital custody, creditor's rights transfer, risk reserve, yield below 15%, and mortgage pledge product. The normal operation of the network lending platform is negatively related to the guarantee product and the credit product, and the normal operation of the network loan platform has nothing to do with the region, the background of shareholders, the duration of investment, and the size of the company. This paper empirically analyzes the risk factors of network lending platform, and puts forward some suggestions on the government's supervision policy. First, the establishment of network lending platform risk reserve; second, the establishment of network lending platform fund custody; third, the establishment of network lending platform property insurance; fourth, the establishment of mandatory information disclosure mechanism. Finally, the paper puts forward the deficiency and innovation of the article, and looks forward to the research of China's network lending platform. The innovation of this paper lies in the research on the risk factors of the network lending platform industry in Zhejiang Province based on the previous scholars' research, and the empirical analysis is carried out by using the ten sets of variables of the network lending platform of Zhejiang Province.
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F724.6;F832.4
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