A Research On The Credit Rating Of China's Peer-to-Peer Online Lending Platform Based On The Analytic Hierarchy Process

In recent years,thanks to the continuous updates of information network technology and the wide application of Internet,Internet finance has been developing rapidly in China.P2P lending,as an important development model of Internet finance,is also growing constantly in China.In 2007,the establishment of "paipaidai" in Shanghai marks the establishment of P2P network lending model in China.The P2P network lending industry in China has been growing in a large scale since 2013,and the number of platforms reached the peak in 2015.This model provides a variety of investment and financing channels for small and medium enterprises and investors in China.But at the same time,especially since 2016,the P2P net loan industry has been in trouble frequently.A lot of illegal fund-raising,running and bankruptcy platforms have appeared,which has seriously damaged the normal economic order of the country and affected the confidence of investors.Although the CBRC,the Ministry of public security and other departments continue to carry out special rectification activities for the P2P network lending platform,but under the circumstance of Chinese poor credit environment,and together with the incompletely standardized net loan industry,the credit rating of the P2P network lending platform is significant to the investors,the platform itself,regulators and even the development of whole financial industry.Based on the research of domestic and foreign literature about the P2P network lending platform and credit rating methods,combining with the current development of China's P2P network lending platform and the exploration of the credit rating of the P2P network lending platform,this paper use AHP to construct a credit rating model of P2P network lending platform.Firstly.4 categories of credit rating indicators,including enterprise strength,operational capability,wind control ability and information transparency,and 30 P2P platforms are screened.After determining the weight of indicators by AHP,the 18 indicators are divided into quantitative indicators and qualitative indicators.Fuzzy comprehensive evaluation method and expert scoring method are used to calculate index scores respectively,and the total score of P2P network lending platform rating index is obtained.After the rankings of the platform,using Spearman correlation analysis,the rating platform ranking of this paper and third party rating agencies to the 30 ranked P2P platform were analyzed.This step is to verify the science and application value of the credit rating model of P2P network lending platform this paper constructs.Finally,the author points out the shortcomings of this paper and looks forward to the future research direction.