Research On Financing Performance Of China's P2P Network Lending Platform

In recent years,thanks to the rapid development of Internet technology,the financial industry has developed a typical online business model such as P2 P network lending in combination with Internet technology.China's P2 P network lending industry has developed rapidly.Both the number of P2 P network lending platforms and the size of P2 P lending business and the number of participants have all experienced explosive growth.With the successive introduction of regulatory policies in 2016,issues such as the illegal absorption and storage of illegal platforms in the early P2 P network lending industry have been well contained,promoting the survival of the fittest among the online lending institutions.Since then,there are laws and regulations that can be followed and the industry can have regulations.The followthrough indicates that the entire industry is facing a reshuffle and a large number of inefficient platforms will exit the industry.Research on the financing performance of the P2 P network lending platform will help the P2 P platform to improve management and services,quickly seize the market in an environment of industry reshuffling and intensifying competition,and stand out,which is conducive to the continuous followup of government policies and guidelines for P2 P networks.The lending industry continues to grow healthily.This article first sorts out the relevant literature on P2 P network lending at home and abroad,and the current status of China's current P2 P network lending industry.,and then defines the financing performance of the P2 P network lending platform from the perspective of the intermediary positioning of the P2 P network lending platform information.And quantify,then select the entire sample of panel data from September 2017 to April 2018,use the fixed utility model to empirically analyze the relationship between different factors and the financing performance of the P2 P network lending platform,and further explore the platform financing in the context of different platform holdings.Differences in performance factors.Through empirical research,this paper finds that the P2 P network lending platform reference revenue does not affect the platform's financing performance;the average borrowing period,accumulated balance to be refunded,and the number of borrowers on the P2 P network lending platform have a significant positive effect on the platform's financing performance;P2P network lending platform The operating time and accumulated balance to be repaid have a significant negative impact on the platform's financing performance.It is further found that there are indeed differences in the financing performance of the P2 P network lending platform with different controlling backgrounds.The results show that after the rational growth of the P2 P network lending industry returns to rationality,investor confidence has gradually stabilized,and it is no longer blindly pursuing high-yield,nor is it intimidated by the platform's high cumulative refund balance;the long duration of the P2 P network lending platform and the large number of investors do not absolutely represent that the platform has high financing performance;high user stickiness and rich borrowing projects will help the platform improve its financing performance;compared to the private sector platform,investors and financiers prefer to operate on non-private platforms.Researching the performance of P2 P online loan platform has reference significance for the platform to improve service quality,establish and improve the risk system,and strengthen the risk monitoring by government agencies.