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Research On Credit Risk Measurement Model Of P2P Network Loan

Posted on:2018-01-16Degree:MasterType:Thesis
Country:ChinaCandidate:Y X WangFull Text:PDF
GTID:2346330518497616Subject:Statistics
Abstract/Summary:PDF Full Text Request
With the new stage of China's economic development into innovation, highlighting the major strategic issues of transformation and growth slowdown, small and medium-sized enterprises have been pulling a new round of economic growth, protect and improve people's livelihood, an important force to maintain social stability. Along with the development of big data, cloud computing technology, cloud storage, terminals and other personalized Internet information technology, ITFIN to meet the needs of China's financial sector to deepen reform,opening up a new channel for investment and financing of SMEs. Convenient peer-to-peer lending platform as the representative of the ITFIN,so that the risk of investment to subvert the traditional offline mode, appeared such as Lufax, peer-to-peer lending, yirendai and other net loan platform, to meet the needs of heterogeneous network marketing mode of many customers.As the representative of Internet financial industry peer-to-peer lending, new risks can not be ignored peer-to-peer lending growth speed, so that the government regulation can not be timely, self management is loose, this process will affect the investment. Therefore, investors must pay attention to the reasons of failure of performance of credit as a result of the transaction risk, to further improve measurement method of the private investors under the uncertain risks, from the platform operation, the implementation of comprehensive supervision and other aspects of the borrower's credit,in order to ensure the safety of investment can be recovered in time.In this paper, through the study of peer-to-peer lending, the risk characteristics and risk factors of peer-to-peer lending are analyzed,find the most prominent risk of peer-to-peer lending credit risk. Probit regression was used to obtain the probability of default in the expected loss model, then the maximum likelihood estimation method is used to calculate loss given default, a new peer-to-peer lending credit risk measurement model is established based on exposure at default. Select the Internet financial lending platform peer-to-peer lending data sets, an empirical test of P2P credit risk measurement model. The results showed that the model is effective,research on risk for China's peer-to-peer lending,provide reference value and benign development of ITFIN.
Keywords/Search Tags:peer-to-peer lending, expected loss model, Probit regression, maximum likelihood estimation
PDF Full Text Request
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