Research On Internet Investment And Financing Risk Conduction And Control

In recent years,Internet finance is becoming more and more popular,along with the rise of the a large number of Internet financial enterprises.Therefore the strength of Internet financial institutes is quite worrying,which is the current situation.By now problems emerge in one third of such platforms,which is a shocking proportion.Therefore the research on the risks of Internet Finance is particularly important.Internet finance have a variety of forms,and the use of the Internet for investment and financing is the most important and typical Internet finance business model,such as the crowdfunding,and online debt and credit.This paper is mainly to study the risk conduction of Internet investment and financing mode,expecting that some contributions can be made to the theory and practice of Internet financial risk.Main contents of this paper include:(1)Based on the study of domestic and foreign scholars on Internet finance industry models and risk management,five participants of the Internet investment financing risk are identified,including external risk,investors' risk,platform risk,financing risk,the third party agency risk,and specific risks for each subject are studied,and 18 major risks are identified.Then,based on the theory of risk conduction of the Internet investment and financing risk,this paper carries out the theoretical analysis of Internet investment and financing risk source,risk transmission carrier,risk conduction path,and receptor,and the concrete analysis on the risk transmission path.(2)Through the Internet investment financing risk identification and risk conduction analysis,this paper constructs the Internet investment and financing risk index system and conduction model.With the questionnaires and structural equation,this paper empirically analyzes the Internet investment financing risk conduction path and the influence.Conclusions show thatexternal risk play a significant part on the platform and and that is a great impact;external risk has significant positive effect on financing risk,especially has a significant positive effect on its operational risk;external risks have positive effecton investor's riskand that is larger influence;platform risks play a significant part on the investor's capital risk,information risk and operationalrisk,that is great influnce;financing risk has a indirect significant impact on investor risk;financing risksplay a significant part on platform's liquidity risk,credit risk and operational risk significantly;third party risksinfluence financing credit risks significantly;third party risks have indirect positive effect on investors;investor risk has a significant impact on the liquidity risk of the platform and have a larger influence.In addition,the results show that the external risk sources,platform risk sources,investor risk sources are the biggest source of risk;investors,the platform is the biggest risk receptor.(3)Based on previous theoretical research and empirical analysis,this paper proposed specific risk prevention and control recommendations from the aspects of Internet investment financing risk subject,path control,risk receptor.On the one hand it is benefite to countryto better manage the internet financial industry,on the other hand it is conducive to the Internet investment and financing participants more clearly facing their own sources of risk,thus,a timely prevention and control,especially for the risk prevention of investors and platform it has important practical significance.