An Empirical Analusis Of The Relationship Between Stock Market And P2P Online Credit Market

The introduction of Internet technologies such as cloud computing and big data has promoted the rapid development of P2P network lending industry.P2P opens a convenient door for small and micro enterprises to finance,and also broadens investment channels for investors.As an important part of China's economic system reform,the stock market has made great contributions in optimizing the investment and financing market environment.Therefore,both P2P and stock market have similar investment and financing functions,and there are some similar businesses and overlapping users in both markets.However,in previous studies,scholars have focused more on single market research,and few papers have studied the relationship between P2P and stock market.Therefore,starting from the aspect of investment and financing,this paper analyses the similar investment and financing functions of P2P and stock market to enterprises and individuals,and explores whether there is a relationship between P2P and stock market(especially the corresponding small and medium-sized board market).Firstly,through literature research,this paper clarifies the common factors affecting the stock market and P2P returns:relevant national policies,the relationship between supply and demand of market funds,investors and financiers,and the interbank lending rate Shibor of Shanghai Bank,etc.Secondly,through the analysis method of combining theory with practice,this paper explores the relevant factors affecting investment products in the two markets and the mechanism of Shibor's effect on the two markets.Finally,the model analysis method is used to test the real relationship between the data by establishing regression model,adjusting the variables and regression analysis.To sum up,this paper finds that there is a "seesaw" effect between the P2P online credit market and the stock market,and using the relationship between them to make reasonable investment and financing can better solve the financing problem and benefit demand.At the same time,it provides a new regulatory idea for the financial authorities to promote the healthy and long-term operation of the two markets and explore the suitable system and mode for development.