Research On Credit Risk Of P2P Network Loan Company

P2P network lending(Online Peer to Peer Lending)is a new financial model which combines Internet and private lending.It entered China in 2007,and then began to develop rapidly.Since 2012,the bankruptcy of P2P network lending platform and the exposure of such problems as running with money show that the whole industry is facing higher risks,among which credit risk is the main risk affecting the development of the industry.Because credit risk most affects the operation and profitability of P2P companies,and compared with the traditional capital management industry,the scale of online credit companies is generally smaller,and their risk management ability is even more worrying.At present,our country's P2P network lending is divided into the following types of companies:unsecured and unsecured companies represented by patching loans,unsecured and guaranteed companies represented by Yixin and others,and mortgaged and guaranteed companies represented by Renren Loan.This paper mainly takes Yixin as an example to study the credit risk of this type of companies.At present,scholars at home and abroad mainly focus on the theoretical basis,the current situation of practice at home and abroad,the advantages and disadvantages of the model itself,including the various models of this new type of loan,as well as the legal system of the P2P network lending model,etc.There are few studies on the measurement and management of P2P network lending risk,especially credit risk.This paper makes an empirical analysis of the credit risk of P2P network lending,and draws on the mature experience of foreign countries,so as to put forward feasible suggestions for the credit risk management practice of our country's P2P network lending companies.The first part of this paper will introduce the current situation of P2P company and the whole industry as well as the concept of risk.At the same time,it will combine the domestic and foreign literature for the research in this field.The second part,through the support of relevant theories,such as information asymmetry theory,trust theory and so on,analyses the potential risks of industry and Yixin company.The third part is the introduction of P2P network lending.The fourth part,detailed analysis of the components of credit risk,understand the level of credit risk in the whole industry,combined with specific cases,select Yixin company to analyze the level of credit risk in detail,measure the credit risk of the company through risk indicators,and compare with the average level of the industry,so as to analyze the level of risk of Yixin company.The last part is based on the above analysis to put forward targeted recommendations,in order to reduce the credit risk of Yixin company and industry.