The Effectiveness Of External Influence Factors Of P2P Investment Decision

This paper explores the effectiveness of external factors that influence the lender's decision-making,and tries to answer the following two questions: First,which visible information of the P2 P subject that have a significant influence on the lender's investment decision-making?Second,are the significant factors affecting the lender's investment decision also significant factors that affect the security of the target?This paper uses 16,810 data in Paipaidai to study the external factors affecting the lender's decision-making behavior.This is achieved through the Logit model and the multiple linear regression model.The Logit model uses the loan success or failure as the dependent variable,and the visible information of the subject as the independent variable;the multiple linear regression model takes the full target time as the dependent variable,and also the information visible to the lender as the independent variable.Secondly,after removing the insignificant independent variables in above two models,the paper uses the overdue or normal target condition as the dependent variable,Logit model is used again to analyze whether these factors will affect the security of the target.The study has the following conclusions: First,the visual target information will influence the lender's investment decision.After controlling the borrowing amount,borrowing interest rate,and borrowing period for each subject,it is easier for female borrower and the older the borrower to borrow money.Academic certification and credit certification have negative affection on the lender's willingness,and video certification has no effect.The borrower's historically high overdue percentage will also have a negative impact on the borrower's willingness to borrow.secondly,there is no significant relationship between the external factors that significantly influences the borrower's decision-making behavior and the security of the target.Thirdly,the magic mirror level in Paipaidai is the only information that can be used to depict the risk of follow-on repayment in all visual target information.The higher the mirror level,the lower the proportion of overdue payments in follow-up repayment.Finally,based on the research conclusions,this paper proposes reasonable suggestions for investors and online loan platforms.For investors,it is necessary to carefully discern the real effects of various types of target information,so as to avoid adverse influence of cognitive bias on decision-making.For the platform,it is necessary to obtain borrower information as much as possible and judge the risk of the borrower.In addition,put less unrelated information on targets so as not to interfere with investors' decisions.