An Empirical Study On China's P2P Loan Default Risk Control Model

The risk of default has always been the focus of P2 P network lending research.Traditional research mainly explores the risk of default from the two aspects of borrower information identification and lender behavior,but ignores the initiative of P2 P platform in controlling default risk activities.At the same time,the description of the behavior of lenders in traditional research is mostly based on the regression analysis of the sample as a whole,so it is impossible to clearly explain whether the behavioral characteristics of the borrower are common to all people,or only exist in some of them.This paper innovatively regards the P2 P platform as a dynamic subject,constructs a complete borrower-lender-P2 P platform tripartite behavior model to study the default risk control model,and uses the method of goodness of fit test to accurately locate the loan.The behavioral characteristics of individual individuals further categorize the behavior of lenders,thus clearly describing the roles,functions and effects of borrowers,lenders and P2 P platforms in the process of controlling online loan default risk.First,this paper uses the data sample of the wheat gold network loan platform for P2 P empirical research.Through the three chapters of the borrower,P2 P platform and lender as the research subject,the following main conclusions are drawn: First,the borrower's information can significantly affect the performance of default.The strategy obtained by analyzing the borrower's information can effectively control the P2 P online loan default risk.Second,the P2 P platform plays an important role in controlling the risk of default on online loans.The platform can use the analysis of borrower information to achieve continuous improvement of default risk control capabilities.Third,The lenders did not demonstrate strong default risk identification and control capabilities.Most lenders used a passive strategy that approximated random selection to invest in borrowing projects on the P2 P platform.In summary,this paper believes that the most motivated and capable to act on the risk of controlling online loan default is the P2 P platform.The promulgated P2 P platform of the risk control system will provide borrowers with more concise and effective investment advice and more reliable borrowing projects,and the marginal benefits of the lender to further analysis and strategy will be reduced,and eventually a P2 P will be realized.The platform dominates,and the lender follows the action of the online loan default risk control model.