Research On The Credit Evaluation Index System Of The P2P Platform

In today's era of rapid development of Internet technology, Internet finance as a product of the fusion of traditional finance and Internet technology, not only innovate the financial system,but also make up for the deficiencies of traditional finance, and make a good combination of the small and medium-sized private enterprises' demand for funds and private capital investment needs. With the rapid development of Internet finance, as a business model of Internet finance,Peer-to-peer Lending (P2P) has been rapid development, the number of P2P platform growth from 200 in 2012 to 2448 in 2016. However, due to the low barriers to entry of the P2P industry,the various problems of the platform frequently, resulting in irreparable economic losses to many investors. Resulting in the credit situation of the whole P2P industry is facing a very serious challenge; many investors have been distrusting the P2P platform, which has been serious influence the development of the P2P industry. Therefore, it is urgent to study the credit evaluation of P2P platform.First of all, this paper studied and reviewed of foreign and domestic literature about the P2P platform and credit evaluation, and analyzed the current situation of the development of domestic P2P platform. Then through gathering the P2P platform credit evaluation index of P2P third party rating agencies and the existing research literature evaluation and objective screen the whole index based on correlation analysis and principal component analysis and get the final P2P platform credit evaluation index system. Then, using the analytic hierarchy process(AHP) to determine the weight of the credit evaluation index subjectively, and using the entropy method, the coefficient of variation method, and the mean square deviation to objectively determine the weight of the credit evaluation index. Then using Theil coefficient combination weighting method to determine the new combined weights of evaluation indexes through combined the weight of subjective evaluation and objective evaluation, which comprehensively considered the subjective knowledge and experience of experts and the true information of the P2P platform data. Secondly, the credit evaluation model of the P2P platform is determined by the sum of the combined weights and the standardized values of the actual operational data. Finally, this paper uses Spearman correlation analysis to verify the practicability of the credit evaluation model.