The Determinants Of Intentions To Invest In The Domestic P2P Lending Platforms

In the year of 2013,Alibaba's Yuebao had collectively deposited$100 biliion in less than 5 months after its launch,by virtue of the huge user base of Alipay.With the improvement of general understanding of Internet Finance,online P2P lending is developing significantly in recent years.Bye the end of 2014,there were already 1575 P2P lending platforms in China and the competition is so fierce.Different users may choose their favorite platform to invest based on account security,platform strength,and so on.To improve the user's investment willingness,to optimize the platforms,will have important theoretical and practical significance for the development of online P2P lending industry.This paper uses empirical analysis from the users' perspective,based on the technology acceptance model,adopted statistical demographic variables,perceived risk,perceived cost and the theory of network externalities,to build the model of the user's intention,so as to exploring the relationship among the intention and various factors.The paper carried out the reliability,validity analysis,correlation analysis,regression analysis and structural equation model validation to draw a conclusion that perceived usefulness and network externalities will be significantly positive to intention;perceived risk would negatively affect user's intention,in addition,perceived usefulness and perceived risk would negatively affect each other.Besides,perceived ease of use,perceived cost,demographic factors would not significantly affect user's intention.According to the data analysis and model validation,the paper suggests that the online P2P lending platforms reduce costs to provide the higher interst rate,enhance the risk control ability from all aspects of product design,moral hazard and so on,and encourage users to invite friends,thereby enhancing the user's investment willingness and getting further development of the online P2P lending.