中国P2P网络借贷平台借贷行为影响因素的实证研究

发布时间：2018-01-26 15:43

本文关键词： P2P 网络借贷信息不对称借款成功率成交利率 Logistics回归　出处：《贵州财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：Peer-to-Peer(P2P)网络借贷平台,顾名思义,是借助发达的互联网进行的资金筹措或投资等活动的平台,它允许借款人通过基于互联网的平台与其中其他个人用户之间直接借贷资金而不需要直接从银行或者其他传统途径的中介机构。由于其操作的便捷性,以及投融资的高效性等优点,使得这个新兴模式的资金借贷活动迅速在全球推广开来。本文首先对相关的理论研究的文献进行收集、梳理,阐述P2P网络借贷行业的整体发展历程,并结合理论分析了平台存在的信息不对称问题,导致了P2P网络借贷市场中不可避免的存在逆向选择问题和道德风险问题。新技术加入并没有改善这些问题反而加重了交易双方的信息识别成本,最终会严重影响P2P网络借贷市场的效率,甚至导致P2P网贷平台资金调节作用的丧失。之后本文借鉴前人的文献研究结论,选择投资人借款意愿与成交利率作为P2P网络借贷行为的两个衡量指标,并结合文献与人人贷平台特点,对网络借贷行为的影响因素做了假设与描述性分析。之后文章结合提出的假设,针对人人贷平台设计爬虫程序,利用程序对前文确定的影响因素进行数据抓取,然后以此数据为基础对投资人出借意愿与成交利率分别作实证分析检验。由于出借意愿是衡量借款是否成功的二元变量,因此本文采用logistics回归分析;对于成交利率的因素影响分析,则采用多元回归分析方法。最后,结合实证分析得到的结果,得出P2P网络借贷平台提供的借款人信用信息(信用评级、有无征信报告等)可以明显提高网络借贷行为的效率;借款人在借贷平台提供的基本信息(借款人性别、职业等)、历史表现信息等相关信息对于消除信息不对称影响比较重要,是区分优质与劣质借款人的主要影响因素,对这些因素的改进,可以提高自身的借款成功率并降低最终成交利率。
[Abstract]:Peer-to-PeerP P2P-based lending platform, as its name implies, is a platform for financing or investing with the help of the developed Internet. It allows borrowers to borrow money directly between Internet-based platforms and other individual users of it without requiring intermediaries directly from banks or other traditional channels, because of their ease of operation. As well as the high efficiency of investment and financing, this new model of capital lending activities quickly spread in the world. First of all, the relevant theoretical research literature collection, combing. This paper expounds the whole development course of P2P network lending industry, and analyzes the information asymmetry problem in the platform with the theory. This has led to the inevitable adverse selection and moral hazard problems in the P2P network lending market. The new technology does not improve these problems but increases the information identification costs of both sides of the transaction. Finally, it will seriously affect the efficiency of P2P network lending market, and even lead to the loss of P2P network loan platform funds adjustment. Choosing the willingness of investors to borrow and the transaction interest rate as two indicators of P2P network lending behavior, and combining the literature and the characteristics of peer-to-peer lending platform. This paper makes hypothesis and descriptive analysis on the influencing factors of network lending behavior. Then this paper combines the assumptions put forward and designs a crawler program for peer-to-peer lending platform using the program to capture the data of the influencing factors identified in the previous paper. Then on the basis of this data, the author makes an empirical analysis of the investor's willingness to lend and the transaction interest rate. Because the willingness to lend is a binary variable to measure the success of the loan. Therefore, logistics regression analysis was used in this paper. For the factors affecting the transaction interest rate, the method of multiple regression analysis is used. Finally, combined with the results of empirical analysis, the credit information (credit rating) provided by P2P network lending platform is obtained. Whether there is a credit report, etc.) can significantly improve the efficiency of network lending behavior; The basic information provided by borrowers in the lending platform (borrower gender, occupation, etc., historical performance information and other relevant information in order to eliminate the asymmetric impact of information is more important. The improvement of these factors can improve the success rate of borrowing and reduce the final transaction interest rate.
【学位授予单位】：贵州财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F724.6;F832.4

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