Research On The Impact Factors Of Peer-to-peer Lending Results

In China,the first Peer-to-Peer lending platform was established in 2007.In these years,Peer-to-Peer lending industry has gone through four stages,including brutal development and risk outbreak and gradual improvement of supervision and rational development.In different stages of development,Peer-to-Peer Lending industry reveals the corresponding characteristics.In order to expose the crrent impact of Peer-to-Peer lending result,this paper uses theoretical analysis and empirical analysis to study the problem.According to the theory of information asymmetry,the borrower's credit rating will have an impact on the Peer-to-Peer lending results,the Peer-to-Peer lending results in this paper refer to the time required for the full loan and the number of bidders.In addition,according to the transaction cost theory,the credit rating affects the number of bidders.In order to prove the conclusion of theoretical analysis,this paper chooses the 2016 annual transaction data of renrendai.com as the empirical research object.The empirical results show that the higher the credit rating,the shorter the time required for the loan to be full,and the more the number of bidders.In addition,the factors such as interest rate,maturity,amount,gender,marriage,education,income,real estate and mortgages can also affect the Peer-to-Peer lending results.In general,the lower the credit risk that various factors reflect,the shorter the time required for the loan to be full,and the more the number of bidders.Based on theoretical analysis and empirical research,this paper presents the implications and recommendations.For the borrowers,they should focus on their own credit records,income and asset accumulation.These will have an impact on the efficiency of his borrowing and the number of bids.For investors,in the investment process,they can use the experience of the market to invest.For the Peer-to-Peer lending platform,they should be carefully verified the factors the investors concerning to avoid these factors are forged.