Research On Risk Control Mechanism And Supervision Path Of P2P Lending

As an important part of Internet finance,P2 P lending has developed rapidly in recent years,caused widespread concern.But the busting problems such as fraud and run also sound the alarm.How to establish effective risk control mechanism and supervision system,become a problem which the sustainable and healthy development of the P2 P lending has to answer.In order to answer this question systematically,we select the Risk control mechanisms and supervision path of P2 P lending as our research topics on the basis of reading the literature.Firstly,we get a panoramic perspective through the key sides of P2 P lending such as the technical background of the birth,the innovations of mechanism in the process of development,the comparison of home and abroad business model and the typical characteristics of it.Then we research the risk control mechanism and supervision path respectively.In the area of risk control mechanism,we card the the general borrowing process of P2 P lending to find the five major business segment: Information collection,Credit review,The bidding process,Review the loan,After payment,and sketch the outline of the P2 P lending 's business line.Lines of business as the main body,we unearth the hidden capital line and information line along the direction of capital and information flow.Based on the three lines of business capital and information,we build the P2 P Lending's risk analysis framework combining with the influence of the external environment according which we split the risk of P2 P lending into five main risks:The credit risk of business line,The security risks of capital line,the disclosure risk of information line,The compliance risk of law,The blind area risk of Regulatory.In view of the five main risk,we present the available risk control kit respectively form which P2 P lending enterprises can combine them flexibility according to the according to their own strength and the stage of development.In the area of supervision path,we demonstrates the necessity of supervision by constructing a static game model.we construct an evolutionary game model Including borrowers and lending platform and use netlogo simulation.The analysis results show that the strategy choices made by borrowers and lending platform are the result of the benefits and costs after balance,there is no evolutionary stable strategy(ESS).The system made up by borrowers and lending platform dynamic evolution through themechanism: changes-conduction-adjustment-re-change.So absolute supervision is not stable,only appropriate supervision can continue.Completely eliminate fraud is not economical,moderate supervision which tolerate some fraud should be the goal of P2 P lending's supervision.In order to achieve the above supervision goal,we try to build feasible supervisory system from legal norms and supervisory regime.Finally,we propose a “road map” of the P2 P lending's supervision in which we believe that supervisions of industry should be pushed along three stages: Industry self-discipline supervision,principles-based supervision of department,normative supervision by legislation.The research results provides a set of feasible risk control framework and risk control kit,reveals the supervision path which the absolute supervision is not stable,only moderate supervision can continue,gives a “road map” of the P2 P lending's supervision and points out the direction for the development of supervision.