Descriptive Information And Credit

P2P network loan business is the product of the Internet Era,from the era of the wilderness to standardized operation.P2P network loan provide for enterprises to financial support,convenience of personal life,but also brought some serious social problems.Therefore,the academic circles have carried on the related academic research on the network lending industry from the various angles.we have find that the current research have develop from and qualitative research on platform mode and legal supervision,to quantitative research on risk management and financing efficiency.However,these empirical studies still have some shortcomings:Firstly,the current empirical research is mainly focused on the impact of the financing efficiency from the information of standardization in the lending market,,and the impact of investor behavior,.But there is relatively little research on non-standardized information(order titles and loan statements).Secondly,the current research focused on the unilateral study of investors,rarely from a whole point of view to study the lending market trading factors and the relationship between the two sides,thus finding the deviation between the investor's identification on information and the borrower's behavior.Thirdly,it is seldomly studied the heterogeneity of this deviation from different background(different ages,different qualifications,different income levels).However,such research is more relevant to the decision-making of both parties.In this paper,we take the information of 4155 borrowers on the network platform by means of data mining as the sample.Based on the sample data,the article analyzes the deviation of Investors identifying nonstandard information from the two aspects of the length and content of the non-standardized information.Furthermore,the paper makes an empirical test on the subsample,and analyzes the difference of the deviation from different angles.The results show that:There is a obvious different that investor recognize description of borrowings.In the recognition of the content,the deviation of investor's recognition in the dimension of ability is less than the dimension of qualitiy,the living condition and the good faith.Under different backgrounds,there is no obvious difference in the length of description of borrowings,but the recognition of the content features showed significant differences.Investor's recognition in the dimension of ability make a great deviation in the situation of high edution,high age,high income.Investor's recognition in the dimension of he living condition and the good faith make a great deviation in the situation of low edution,high age,low income.Investor's recognition in the dimension of qualitiy make a great deviation in the situation of high income,high age,low edution.At the same time,it also puts forward some reasonable suggestions for P2P lending market:Firstly,P2P net loan platform should strengthen the audit of Borrowing statement,and take the dishonest loan statement as the assessment of the borrower's credit system.Secondly,investors want to identify the potential risks of borrowers from multiple angles,and to avoid the awareness of the advantages of education,age and income.Tirdly,prime borrowers can obtain the trust of investors by providing more detailed information,showing the characteristics of the content of investor preferences,to improve the success rate of borrowing and financing efficiency.