Impact Of "Horizontal-Vertical" Social Norms On Performance Behavior

There are two kinds of transactions exist in the financial market,one is the way to the traditional banking which has a variety top-down regulations in transaction.The other one is the way to internet finance which participants can negotiate with each other freely.However,no matter which kind of the transcation,according to the requirements to keep the agreement is the key to ensuring the orderly development of financial markets.On the basis of previous research we found that,the factors that affect performance include external factors and non-external factors,external factors refer to the punishment by judicial departments or creditors and reputation mechanism to constrain debtor's default behavior.Non-external factors refer to the individual's internal motivation of performance,property distribution inequity aversion and social norms to constrain debtor's default behavior.This article from non-external factors,focusing on the impact of the "horizontal-vertical" norms on performance.We analyze the development of P2P Internet finance,as well as the social preference theory,social norm theory,"procedural justice" theory and classical economics experiments.From the perspective of behavior experiment,which pays attention to the process of behavior.This paper provides a simplified trust experiment in the background of the lending market,and experiment variables and experimental process control are carried out to examine the effect of "horizontal--vertical"social norms on performance.The results of the experiment show that:"horizontal" social norm has significant effects on the performance of individual;the "vertical" social norm has no significant effect on the performance of individual;for self-interested individuals,"horizontal"social norm has significant effect on performance and "ertical" social norm has no significant effect;for the altruistic individuals,the "horizontal" and "vertical" social norms have no significant effect on their performance.