Research On The Success Of P2P Lending In Financing Small And Micro Enterprises

In the new normal period,small and micro enterprises will become a new force to promote China's economic development.According to Chinese Small and micro enterprises white paper issued by the China Guangfa Bank in 2015,China's Small and micro enterprises accounted for 94%of the total number of enterprises,the creation of the national GDP 65%,provides a urban employment accounted for 85%,provides tax accounted for 60%.By the end of 2015,the total number of small and micro enterprises have more than 70 million,provided more than 200 million jobs.At the same time,the financing problem has been a barrier to further development of small and micro enterprises.P2P network lending as a new Internet financial model,have a natural advantage in solving the financing of small and micro enterprises.How to solve the financing difficulties of small and micro enterprises with the help of P2P platform has important theoretical and practical significance.Based on the macro and micro perspective,this paper explores the factors that influence the success of small and micro enterprises' loan success in P2P online lending platform from theoretical and empirical analysis,and then analyzes how to improve the availability of P2P small and micro enterprises.Based on the literature analysis of the financing of small and micro enterprises and P2P platform financing,this paper sorts out the influence mechanism of the financing of small and micro enterprises in P2P online lending platform from the macro and micro perspective.In the theoretical analysis,this paper from the long tail theory,analysis the feasibility and necessity of financing through the P2P platform;secondly,analysis main factors affecting the success of the loan P2P network lending platform from the perspective of information asymmetry theory and social capital theory.Because of Small and micro enterprises borrowers and other individual borrowers having different financing needs and characteristics,so we chose the representative Small and micro businesses loans data from peer-to-peer lending,screening out the business turnover loan data.Knowing the preference of borrowers through descriptive statistics,through empirical analysis on the main factors influencing the P2P lending platform of small and micro enterprises loan success.Finally,combined with the problems and conclusions P2P network lending platform exists,puts forward corresponding suggestions from the government level,the level of the P2P network lending platform and Small and micro enterprises level.