An Empirical Study On The Success Rate Of P2P Loan Financing In China

P2P is a new form of the current financial business,not through banks and other financial institutions,both lenders and borrowers determine the relationship and complete the transaction through the internet.It originated in western countries,since 2005,has been widespread concern in society and has achieved rapid development.Prosper 、 lending Club and ZOPA with its convenient mode of operation,lower rate and diversified financing rates,won the wide attention and recognition,through several years of development,has enjoyed high reputation in the world,and became the learning and imitating objects by other p2 p enterprise from other countries.P2 P lending industry in china appeared in 2006,marked by the establishment of yixin.china has many P2 P enterprises at present and all have a good development,such as paipai loan、renrenloan、yixin、lujinsuo 、you and me loan、Copper Street and so on.this new type of network make private lending breakthrough the limitation acquaintances and geographical conditions,put the money together to those in need,also give investors more financial channels.innovative combination of,technology and finance,make private lending presents some new features,promote the development of financial industry.P2P enterprises in China have achieved rapid development in recent years,but the problem of low success rate of lending has been the important factor which restricts the development of the p2 p industry in our country.due to information asymmetry,borrowers conceal their economic conditions,lying abount the uses of funds,and give the money to some risk areas,make the borrowers’ money at risk.through this vicious cycle,makes the success rate of borrowing decline, hinder the healthy development of the Internet economy.Through the literature review,find that information asymmetry effect the efficiency of p2 p lending.choose paipailoan as the research object,grabbed nearly three years more than 50000 loan data,through statistical regression analysis found that many indicators can influence the rating of lending,such as the amount of loan,length of maturity,the rate of loan and so on.in order to improve the success rate of p2 p lending,this paper puts forward some policy recommendations,first of all,need establish the credit system;second,need improve the relevant laws and regulations,standardize the process of financial business;finally,need establish a deposit system.