A Comparative Study Of Influential Factors Of P2P Lending Behavior Between China And America

P2P lending as a member of the internet financial family, attracting a lot of attention in recent years. As a combination of the Internet and finance, P2 P lending, originated in England, has developed rapidly in China. But there have been all kinds of problems with the development of P2 P lending in China. Although this new pattern offinancing created by foreigner, but P2 P lending in China is different from P2 P lending in foreign.P2P lending as a new financing model, in some ways meeting financing requirements of medium-and-small size enterprises, and public demand for personal consumption loans and public financial needs. While its flexibility and ability to innovate has certain reference value to reform of our traditional financial sector. P2 P lending has providing a new way to solving the problem of financing of mediumand-small companies and self-employed, compared with getting loans from traditional financial institutions, is is an efficient compensation of our traditional financial lending market. So it is important to make a study of P2 P lending.We choose RENRENDAI as our subject, which is famous P2 P lending platform in China. Statistic the more than eighty thousand transaction data of RENRENDAI(Jan.2013.1-Dec.2013), and analysis the indicators on the list of borrowing, such as loan amount, loan term and lending rate, etc to find its relationship with lending success rate and lending rate of return by SPSS. And we use more than 130000 transaction data of Lending Club, the largest P2 P lending in America, to comparative analysis with RENRENDAI.The results showed that: credit rating, number of successful borrowing, overdue times, income level and frequency of pay off have influence on lending will and lending rate on RENRENDAI. Meanwhile, credit rating, number of successful borrowing, overdue times, income level, DTI and bad record have influence on lending rate on Lending Club. Observing the results of two P2 P lending firm, we find that there are many different between China and America about operating mode, because the credit system is imperfect and regulatory gaps in China. And it messes our P2 P lending market.Finally, based on the analysis results, comparing similarities and differences between China's P2 P lending and the US's P2 P lending, we can learn from the development experience of the US's P2 P lending. At the end, we put forward some suggestions for the development of China's development of P2 P lending industry.