Research On The Impact Of Information Transparency Of China's P2P Online Loan Platform On Operation Efficiency

As an important part of the inclusive financial system,P2 P network lending plays an important role in social financing.In recent years,the P2 P network lending industry has run and closed down frequently,which not only damages the legitimate rights and interests of investors,but also casts a shadow over the development of P2 P network lending.As the increasing public voices on strengthening P2 P network lending supervision,the CBRC has issued a number of laws and regulations in conjunction with various departments.The "Guiding Opinions on Promoting the Healthy Development of Internet Finance" for the first time clarifies the information intermediary status of the P2 P network lending platform.The complete,timely and accurate disclosure of relevant information is not only a rigid requirement of the regulatory authorities,but also a necessary condition for the long-term healthy development of the P2 P network lending industry.This paper mainly examines the impact of information transparency on the operational efficiency of P2 P network lending platforms.Specifically,firstly,through the combing and refinement of domestic and foreign literature and related classical theories,the research content of this paper is proposed.Secondly,through combing,it briefly introduces the supervision process of the P2 P network lending industry by the regulatory authorities;and through the analysis of the sample P2 P network lending platform,it reveals the current status and current status of information disclosure in the P2 P network lending market in China.Third,construct a horizontal disclosure system for information disclosure and measure the transparency of information using the entropy method.Fourth,the DEA model is used to measure the operational efficiency of the P2 P network lending platform.Fifthly,based on the above research,the Tobit regression model is used to classify and return the sample P2 P network lending platform,and then exploring the impact of information transparency on the operational efficiency of the P2 P network lending platform.Through the above research,the paper draws the following conclusions: In general,the information transparency of the P2 P network lending platform has no significant impact on the operational efficiency of the platform.However,after the P2 P network lending platform is classified and regressed according to the background,the results show that the information transparency of the P2 P network lending platform in the background of the listing system and the venture capital system has a significant positive impact on operational efficiency.While the information transparency of the P2 P network lending platform of the State-owned and private sector backgrounds has no significant impact on operational efficiency.Therefore,we should actively explore the path of guiding the private sector and the state-owned P2 P network lending platform to improve the level of information disclosure,and on this basis,improve the governance level of the P2 P network lending platform.