Study On P2P Problematic Platforms Features And Investors' Identification

In January 20,2015,the China Banking Regulatory Commission(CBRC)set up the Pratt and whiten financial work department to push forward the general financial work.Internet finance is one of the important ways to develop Inclusive Finance.P2 P network lending is a new financial service mode of Internet finance,which refers to the small and unsecured loan transactions between individuals and individuals through the network intermediary platform.The emergence of P2 P network lending model to a certain extent makes up for the gap in the traditional bank credit system,and also meets the growing demand for Microcredit on the market.With the development of Internet and mobile Internet technology,P2 P lending platform has become an important carrier to promote the development of Inclusive Finance in China.Because the P2 P online lending industry in China in the long run without a clear policy supervision of the state,the P2 P platform is in a great mess,in the part of highquality platform running smoothly,to meet the financial needs of investors at the same time,the platform also appeared frequently problems.The operation data of 222 P2 P online lending platform based on the salient features based on the assumption of proposition put forward by Logistic regression model to identify problems of the platform,and the establishment of a virtual data set intuitively predict the corresponding given significant variables to the different values of platform problem incidence,the further research of investors in the choice of platform how can the accurate identification of these significant features and platform platform specification development and supervision.The empirical results show that some characteristic variables such as platform background and registered capital cannot reflect the difference between normal platforms and the problematic platform.On the other side,the variables about facts that the management information is not disclosed,the annualized rate of return is high and there is no third party fund deposit are not notable variables for problematic platform.Plus,the study also found that investors in China's net loan market have relatively low risk identifying ability.They prefer platforms of high registered capital,low yield,while ignoring the information of management disclosure,capital custody and other information.Based on the above conclusions,this paper puts forward the following suggestions: First,the network loan platform had better return to the position of "information intermediary".Second,the effective implementation of third-party capital custody system is significant;Third,information disclosure mechanism should be strengthened;Fourth,we shall establishf appropriate classification and evaluation criteria;The fifth suggestion is to strengthen investors' risk education;Lastly,we ought to establish a sound and long-term regulatory mechanism.