P2P网络平台融资行为研究

论文总字数：28620字

摘 要

本文探讨了影响P2P（Peer-to-Peer）网络借贷结果的一系列因素。在对中国第一家正式成立的P2P网络借贷平台——拍拍贷的数据进行统计分析、梳理该平台上的借贷行为特征之后，本文建立计量经济学模型，对影响投标数量、借款满标、借款利率的因素进行实证分析。研究结果显示：除了借款人的历史借款失败次数与借款成功率负相关之外，借款利率、借款理由描述的详尽程度、借款人的历史借款成功次数、信用等级等因素都与借款成功率正相关。除此之外，信用等级对投标数量以及标的成交利率均有显著的影响。在中国，随着金融体系改革和利率市场化的不断推进，P2P网络借贷平台除了需要注重自身平台的不断创新之外，还要充分利用大数据、云计算等技术为更多的中小微企业及个人用户建立社会化的征信体系，为平台自身未来的融资服务提供了可参考的信用数据基础。

本文共六章。第一章是绪论部分，主要介绍了P2P网络借贷平台的研究背景、研究意义以及研究方法。第二章是回顾了国内现有的对P2P网络借贷平台的研究成果。第三章是文章的理论机制和研究假设。第四章是本文的研究设计，其中包含了模型设计、数据来源以及数据的统计性分析。第五章是实证分析部分，分别研究了影响投标数量、借款结果以及成交利率这三个被解释变量的因素。第六章是全文的总结和展望。

[关键词] P2P网络借贷 拍拍贷 投标数量 借款满标 成交利率

Research on Loan Performance of P2P Network Lending

--- Taking the Paipai Lending as An Example to Analyze the Factors to Influence Successful Borrowing Rate

ABSTRACT

This paper examines the impacts of social factors on successful borrowing rate in online peer-to-peer (P2P) lending. Data collected from the first P2P lending platform---Pai Pai Lending, have been analyzed. After analyzing the statistical features of variables, we propose a econometrics model for the research of successful borrowing rate, financing interests and the Bid number. The Results of the paper shows that the times of borrowers’ failure borrowing in the past negatively influence the successful borrowing rate, while the financing interest rate, the length of borrowing reasons, borrowers’ successful borrowing in the past and credit scores have a positive influence on the successful borrowing rate. Credit scores also have a crucial impact on the financing interest rate and Bid number. In the process of the financial system reform and interest rate liberalization, P2P network lending platform not only should focus on innovation, but also make full use of big data, cloud computing and other technologies to establish the credit system of small-enterprises and individual users, providing a credit reference for future finance services.

This article includes six chapters. The first chapter is an introduction, mainly introduces the background, significance and research methods of P2P network lending. The second chapter is about P2P network lending platform of literature review. The third chapter is the theoretical mechanisms and research assumptions. The fourth chapter describes the research design of this paper, which includes a model design, data sources, and statistical analysis of the data. The fifth chapter is empirical analysis of three explanatory variables, including the bid amount, the borrower results and turnover rates. The sixth chapter is a summary and outlook of P2P network lending.

Key words: P2P network lending, Paipai Lending, Bid number, Successful borrowing rate, Financing interest rates

目录

第一章 绪论 1

1.1 选题背景 1

1.2 研究的目的和意义 2

1.3 研究内容和方法 4

1.4 论文的结构安排 4

1.5 论文的主要创新点 4

第二章 文献综述 5

2.1 国外的相关研究 5

2.1.1 理论研究 5

2.2.2 实证研究 6

2.2. 国内的相关研究 7

2.2.1 理论研究 7

2.2.2 实证研究 8

第三章 P2P网络借贷平台的理论基础与研究假设 10

3.1 P2P网络借贷概念界定 10

3.2 信任理论 10

3.3 信息不对称理论 11

3.4 研究假设 11

第四章 研究设计 13

4.1 回归模型与估计方法 13

4.2 研究对象与数据来源 13

4.3 变量说明与统计性分析 14

第五章 实证研究 17

5.1 影响订单投标人数的因素 18

5.2 影响订单是否满标的因素 20

5.3 影响订单成交利率的因素 22

第六章 结论 24

致谢 25

参考文献 26

图 1-1 2009-2014中国P2P网络借贷平台的交易规模................................................................................3

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