Research On Risk Influencing Factors Of P2P Platforms In China

With the development of Internet finance,P2P online lending appears in front of the public as a new way of investment and financing,providing a new tool for solving the financing difficulties of small and medium-sized enterprises and personal lending.In 2007,China's first P2P platform was established,and then the territory of online lending was rapidly expanded.The rapid development was accompanied by unknown risks.Looking back on the development process of China's P2P industry,China's P2P experienced three large-scale platform failures.In June 2018,the P2P industry ushered in the third wave of thunder and entered a new round of major reshuffle.The main purpose of this paper is to identify the risk influencing factors in the operation process of the platform,provide ideas for better regulating the development order of China's P2P industry,and make the P2P industry develop healthily and orderly.This article selects the withdrawal difficult problems in the third explosion LeiChao platform of gold and normal operating platform for all credit as an example,through the study of the comparison and analysis of the two platforms,found that gold service platform in the tide of the low degree of information disclosure,borrowing needs concentration and the underlying loan period is generally shorter,low degree of capital operating norms,and all credit platform is presented with the opposite phenomenon.Imperfect information disclosure mechanism not only attracts a large number of high-risk users to the platform,but also provides false convenience for some platforms with impure motives.The existence of high-risk users of large amount of loan and the false borrowing targets issued by the platform for self-financing increase the risk of the platform.Once the users of large amount of loan default or the platform fails to repay in time,the operation of the platform will suffer a fatal blow.At the same time,the existence of the term auction phenomenon shortens the borrowing time of the target,attracting a large number of investors who hate long-term investment instability,but this requires extremely high capital strength of the platform,once the capital chain of the platform breaks,the platform will fall into a difficult situation.In order to more conveniently misappropriate user funds,some platforms have not been connected to third-party fund depository for a long time,and the fund flow has not been effectively monitored,which also increases the risk level of the platform.In addition,data of 109 problematic platforms and 100 normal platforms were collected in this paper,and logit model was constructed for research.It was found that most of the platforms with business problems in the third thunderstorm showed the same performance as zhongchao financial service.The degree of disclosure of the underlying information,the degree of diversification of loan demand,the setting of the underlying loan term and the standard degree of capital operation are indeed important factors influencing P2P risks.Finally,based on the research results and the development status of P2P industry,this paper puts forward relevant risk prevention Suggestions,hoping to contribute to the healthy and orderly development of China's P2P platform.