美国P2P网络借贷平台发展及其对中国的启示——基于Prosper和拍拍贷案例

发布时间：2018-01-21 10:13

本文关键词： 融资约束征信机制运营模式 Prosper 拍拍贷　出处：《金融与经济》2017年10期 　论文类型：期刊论文

【摘要】：本文以中美两国P2P网络借贷平台的快速发展为背景,基于Prosper和拍拍贷案例分析了美国P2P网络借贷平台的发展及其对中国的启示。研究发现,两国P2P网络借贷平台在征信机制、市场环境、运营模式、风险表现方面存在诸多差异,Prosper为个人和机构投资者提供的资产具有风险调整收益高、信息透明、久期风险低等优势,但是网络借贷业务很容易受到外部经济条件及由此产生的趋势性或不确定性的影响。结合我国情况的进一步分析表明:征信评级机制不完善会削弱征信信息审核的准确性;担保机制的建立有助于平衡高利润和保本保息目标;建立权威的第三方评级机构有助于提高信用评级的准确性;征信系统、监管不足乃至监管缺位等问题亟待关注。本文的研究结论对于完善我国的征信体系、平台构架、平台监管具有重要的政策含义。
[Abstract]:This paper takes the rapid development of P2P network lending platform in China and the United States as the background. Based on the case of Prosper and PPDAI, this paper analyzes the development of American P2P network lending platform and its enlightenment to China. The research finds that the two countries' P2P network lending platform is in the credit mechanism and market environment. There are many differences in operating mode and risk performance. The assets provided by Prosper for individual and institutional investors have the advantages of high risk-adjusted income, transparent information, low risk for a long period of time and so on. However, the network lending business is vulnerable to external economic conditions and the resulting trend or uncertainty. Further analysis of the situation in China shows that:. Imperfect credit rating mechanism will weaken the accuracy of credit information audit; The establishment of the guarantee mechanism is helpful to balance the high profit and the goal of maintaining the principal and interest; The establishment of authoritative third-party rating agencies helps to improve the accuracy of credit ratings; The research conclusions of this paper have important policy implications for perfecting the credit information system, platform framework and platform supervision in China.
【作者单位】：北京外国语大学商学院;
【分类号】：F724.6;F832.4
【正文快照】： 一、引言作为互联网金融的一种新兴业态融资模式,其发展的社会动因在于普遍存在的融资难、融资贵问题,体现了金融的民主化和普惠性特征。美国P2P网络借贷的商业模式经过大量的市场检验而更显成熟,其发展规模和速度均位居各国P2P网络借贷行业的前列。相应地,我国在经过对国外

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