A Study On The Construction Of China's P2P Lending Credit Rating Index System

With the rapid development of China's economy and the popularity of Internet financial,in recent years,the number of domestic P2P online lending platform quickly increased,but the phenomena associated with the P2P lending platform illegal fund-raising,as well as bankruptcy have occurred occasionally,seriously undermine the national normal economic order,and affect investor's investment confidence.Therefore,there is an urgent need of credit rating for the domestic P2P online lending platform,while the uniqueness of P2P lending determines it's different from the general small and medium-sized enterprises credit rating.Credit rating system as a basis for financial business development,compared with the perfect rating system abroad,the construction of credit system in our country is relatively slow,and there isn't a sound credit rating system for P2P platform.In this paper,we set the credit assessment of P2P online platform as the research object,to build a relatively perfect credit rating index system for P2P online lending platform,which has important research significance.In this paper,through review and systematic combing the relevant outstanding literature of credit rating and P2P online lending both at home and abroad,states the definition and characteristics of P2P lending and the development of credit rating,and analyzes the main methods of credit rating and the research of credit rating on domestic P2P lending.On this basis,points out the advantage and limitations of existing credit rating system of P2P lending.According to the inadequacy of the existing credit rating system of P2P platform,particularly emphasis in terms of the selection of indicators lack attention to non-financial indexes.In this paper,based on the influence factors of credit conditions on P2P lending platform,from the basic situation of enterprises,management,the operating conditions,means of enhance the credit rating and the growth and development five aspects to analyzes the factors affecting the credit rating of P2P online lending,mainly through financial indexes and non-financial indexes to construct the credit rating indicator system.In the paper,the partial correlation analysis method is used to select and determine the weight,then usecredit function integral to score,according to the characteristics of the non-financial indexes are difficult to qualitative quantitative,adopt the comparative advantage approach and experts grading method to determine the weights and credit rating scores,finally constructing the P2P lending credit rating system.Then using the credit rating system analysis typical P2P lending platform,and using the least squares method compare with the Academy of Social Science's credit rating on 90 P2P lending platform to test the effectiveness of the credit rating index system,.Results show hat the credit rating index system is of practical significance.Finally,this paper puts forward strengthening P2P credit rating support,supervision and cultivating rating talent three proposals for the development of P2P lending credit rating.