Research On The Impact Of P2P Network Lending Platform On Investment Risk

With the continuous deepening of the financial system reform,China's financial market continues to carry out financial innovation,and a variety of new financial products continue to emerge.The P2 P network lending mode is a typical example.P2 P platform is a financial transaction information intermediary,its main function is to construct the investment community credit and project evaluation database,the use of cloud computing and big data model,so as to build a bridge for the exchange cooperation of both investment and financing,the investment and financing activities are more open,fair and transparent,financial transaction risk,lower financing costs are smaller through the platform.Practice has proved that the steady development of P2 P platform provides a broad financing space for breakthroughs in financing bottlenecks and rapid growth of small and medium enterprises in the early stage,and provides a new driving force for the active financial market.Based on the game theory and risk theory,the interaction between small and medium-sized enterprises,investors and stakeholders P2 P three party platform as the basis,the small and medium-sized enterprises to variables,investors incentive variables and P2 P platform to determine the variables for the three side of the decision variables,construct the game model into Incentive efforts the mechanism,by solving the Nash equilibrium solution,the main factors to reveal the interaction mechanism of three main stakeholders and investment risk changes and influence mechanism.The study found that:1)the three main stakeholders.The optimal decision respectively by the small and medium-sized enterprises,small and medium-sized enterprise bankruptcy cost coefficient,P2 P platform cost coefficient,the external macro risk,investment,P2 P platform intermediary fees charged to investors and other factors;2)the main factors causing the change of investment risk is the P2 P platform the big data credit and project evaluation ability,improve the level of data analysis will affect the platform charge intermediary rate,thereby reducing the investment risk faced by investors in a certain extent;3)the results of numerical simulation show that the P2 P platform of investors for the risk of investment intermediary rates with small and medium-sized enterprise business benefit adjustment when the impact of small and medium-sized enterprises,profitability higher platform for investment risk uncertainty,while the profitability of SMEs is relatively low The increasein the rate of intermediary fees charged by the platform can reduce the risk of investment.Typically,the borrower for start-ups,low profitability,thus reducing the investment risk by raising the rates charged intermediary platform;4)the influence mechanism model is derived the research results of the effort cost coefficient and the investment risk of the P2 P platform and found that the two negative correlation;5)the government should give P2 P the platform more preferential policy support to improve incentive platform management ability,reduce the risk of investment.In addition,the government should introduce relevant laws and regulations to strengthen the supervision of the P2 P industry and reduce the violation by creating a standard market atmosphere.