An Empirical Study On The Behavior Of P2P Network Lending Investors

As an innovative product of the combination of Internet technology and traditional finance,P2P network lending,while alleviating the financing difficulties,but also provides investors with a new investment channels.P2P network lending platform and a large number of good and bad,the loan project is mixed and frequent risks,making investors must be careful decision-making.Therefore,investors how to choose the investment platform and the investment behavior of the project is worthy of attention.On the basis of literature review and current situation analysis.First of all,the investor behavior model is constructed,and the investor behavior is decomposed into two successive processes,which are trust and willingness to lend.Secondly,using the crawler software tocrawl platform information and pat loan transaction data;using multiple linear regression model for empirical platform investors trust;Quantile Regression Model of the project schedule under different borrowing lending will make investors an empirical evaluation of investor behavior;decision tree model.The results showed:(1)P2P network lending platform selected investors,investment income rate,the number of borrowers,platform registration,platform scale,on-line time a significant effect on its platform,loan period,bid security,platform registered capital,platform background has no significant effect on it.(2)the influence factors of the willingness of investors to lend to different loans.In the low loan schedule,factors affecting investor lending will include loan amount,loan term,loan interest rate,risk preference,the borrower repayment history success times,age,education level of the borrower borrower and the borrower credit rating;in the high loan schedule,investors only lending will affect several core variables including:loan amount,loan term,loan interest rate,the borrower's credit rating and risk preference.(3)the investors can not identify the risk information,and can not identify the poor credit borrowers.Finally,according to the conclusions of the study,combined with the problems of P2P network lending,the paper puts forward some suggestions from two aspects of the platform and its regulators and investors.The research conclusion of this paper has certain theoretical value and practical significance.Not only for the P2P network lending behavior of investors contribute little,but also can guide the improvement of P2P network lending environment and investor risk control,and promote the healthy development of P2P lending network.