An Empirical Study On The Influence Of Annual Borrowing Rate Of P2P Platform On Default Rate Of Debtors

At present,a new type of investment and financing tool,P2P(peer to peer)online lending,has gradually gained the recognition of both sides of the loan and achieved rapid development,but in this rapid development process,debtor defaults,online lending platforms run away and other phenomena occur from time to time.Therefore,accurate assessment of debtor default risk is an important measure to guarantee investor capital security,improve risk control ability of P2 P lending platforms and reduce the number of problematic platforms in the industry of P2 P lending.Taking renrendai as an example,this paper studies the default risk of debtors by combining qualitative and quantitative analysis methods,and focuses on the analysis of the influence of annual interest rate on the default rate of borrowers.First,three non-significant explanatory variables were eliminated by the independent sample T test.Then,descriptive statistical analysis method was used to analyze the data of several important explanatory variables in the paper to obtain the number of different types of customers in default and non-default as well as the proportion,and the influence of annual interest rate on default risk was mainly analyzed.Secondly,SPSS was used for binary Logistic regression analysis of 12 explanatory variables.At last,Logistic regression was used to analyze the single variable(borrowing annual interest rate)separately.The results showed that when the borrowing annual interest rate was no more than 10.5%,the debtor's default rate gradually increased with the increase of borrowing annual interest rate.When the annual interest rate of borrowing exceeds 10.5% and it is less than 13%,the default rate actually decreases.The results of the model and the above two points verify each other.Finally,based on the empirical research results of the default risk of P2 P lending,the paper puts forward such specific measures as diversified risk management,encouragement of interest rate marketization of P2 P industry and cooperation with third-party management institutions,which will help P2 P platforms better prevent the default risk of debtors.