Research On Innovation Behavior Of P2P Industry Based On Reputation Theory

With the rapid development of Internet technology,P2 P industry has experienced explosive growth in recent years.Advantages of P2 P industry,such as low threshold,high efficiency and wide range of participants,have provided it with a large space for development and relatively convenient channels for financing of medium and small enterprise.While seeing its thriving side,we should also note that the P2 P industry is chaotic and prone to risk events,which have laid hidden dangers for China’s financial security.An important factor is the lack of constraints within the industry,which leads some practitioners to over-innovate in order to maximize their own interests.This excessive innovation behavior of the platform would eventually damage the interests of investors and the platform itself,and seriously hinder the healthy development of the industry in the long run.Through the game analysis and case study,this paper draws some useful suggestions for improving the innovation status of the industry.At the same time,through the system research on the industry self-discipline and financial supervision of the P2 P industry,the mechanism design problem between the two case is considered.The state of innovation is of great benefit.In order to improve the situation of excessive innovation and promote appropriate innovation and compliance innovation in P2 P industry,the following discussion is carried out in this paper.First,based on previous studies,excessive innovation and moderate innovation are defined.Then,in the present condition of the government financial regulation and self-discipline of the P2 P industry,I made a certain technology to improve the KMRW reputation model of Barro and Vickers(1986),respectively to investigate the The choice between moderate innovation and excessive innovation of P2 P platform of two states and the transformation problem of excessive innovation and moderate innovation.Finally,considering the development status of China’s P2 P industry and the lack of unified and specific data in the industry for empirical analysis and test,this paper intuitively shows the necessity of appropriate innovation in the industry by combining the cases of P2 P down-payment loan products,and verifies the game theory in chapter 4.Research shows that: in the two different cases discount factor has a significant influence on the P2 P industry innovation state;Also,by comparing the vertical condition of the two,we could get the relationship between financial supervision and innovation,and the further consideration to promote the healthy and rapid development of P2 P industry self-discipline mechanism design problem with financial regulation.Finally,this paper proposes corresponding policy suggestions from the four aspects of the construction of Internet finance association,the construction of laws and regulations,the coordination between industry self-discipline and financial supervision,and the relationship between popularization of innovation and supervision,aiming at the current situation of industry innovation in China,in order to promote the healthy development of P2 P industry.