Research On The Influencing Factors Of Credit Risk Of P2P Online Loan Borrowers

Since 2010, the total turnover of P2P, the number of platforms, practitioners and users has growth rapidly, market penetration has continued to deepen, and the entire industry showed explosive growth. According to the statistics, the number of P2P lending platform in China has reached 5692,and the total turnover of P2P may reach 2 trillion RMB at the end of year. P2P network lending platform has become an important financing channels for private finance.But at present, the construction of the credit system of our country credit institutions are still at an initial stage, making borrowing user information disclosure,investors can not accurately identify the borrower credit quality, the net loan industry with greater credit risk. Under such an investment environment, in the end what factors affect the borrower’s credit level, how to reasonably protect the safety of investors’ funds, to promote the entire net loan industry sustained and healthy development is the focus of this paper.In this paper,using the program "peer-to-peer lending platform" capture the real transaction data, the establishment of two yuan Logistic regression model to conduct empirical research on the influencing factors of borrower default behavior, we can draw the following two conclusions: one is that the borrower "hard information"index, the borrower age, loan amount, loan interest rate, the number of significantly overdue the positive influence on the breach, education, credit rating has significant negative impact on the breach, and whether the ownership of real estate, is Car Buying, working time has no significant effect on default behavior. The two is that the"soft information" index,which is the "spelling error" in the descriptive text,has a significant positive effect on the behavior of the breach of contract. The research results show that although the borrower "soft information" can not be directly confirmed, but also has the value, net loan platform should be multiple dimension to quantify the borrower’s credit rating.Finally, on the basis of the empirical results of this paper are put forward on the platform to strengthen information disclosure and information sharing, strengthen risk education for investors, improve the construction of personal credit system in China,as well as the platform to enhance their ability of loan collection, in order to better regulate China’s P2P lending credit risk.