| Online lending is a small amount of credit financial service provided to lowincome groups or small and micro enterprises.Investors and borrowers directly make small loans through online lending platforms rather than traditional financial institutions.In recent years,various new forms of financial services have developed rapidly.Online lending has provided a convenient channel for small and medium-sized enterprises,individuals and other small groups to finance because of its simple,flexible and efficient characteristics.At the same time,online lending also plays an important role in improving financial inclusion and promoting economic development.For logistics companies,due to the fierce competition in the industry and the expansion of customers' individual needs,logistics companies urgently need to expand their scale to improve their competitiveness.However,due to insufficient funds,logistics companies need to use the financing method to fund the goods.Online lending and lending are simple,flexible and efficient,providing logistics companies with a fast and efficient way of financing.Research shows that the successful operation of online credit institutions depends on investors.Similarly,as a new financing model,online lending continues to rely heavily on investor investment support.Without investor investment,the P2 P online loan platform will fail to serve customers and ultimately lead to failure.Therefore,studying the factors that affect investors' investment behavior in the Internet lending model has become a very meaningful issue.This article takes Quanfeng Express' s online lending platform "Quanfeng E Loan" as the research object,based on ELM theory,constructs a theoretical model of online lending investor investment behavior,and introduces the investor's ability(investment experience)as a moderating variable into the model.Explore the influence mechanism of investors 'investment behavior and analyze the moderating role of investors' ability.The purpose of this article is to answer the following questions:(1)How do the central and peripheral path factors successfully persuade investors to invest?(2)How does the investor's investment experience affect the investor's choice of processing and processing information?The results of the study show that among the central path factors,mortgage guarantee,on-site certification,and borrowing experience have a significant positive impact on investment behavior,while the number of defaults of the borrower has a significant negative impact on investment behavior,and the amount of the borrower's liability has an impact on the investor 's investment behavior.There is no significant impact;the number of bidders,credit scores,and identity authentication in the edge path factors have a significant positive impact on investment behavior.Further research found that the positive adjustment of the relationship between the central path factor and investor's investment behavior of the investor's ability has a negative adjustment effect on the relationship between the edge path factor and the investment behavior.This article expands ELM to the domestic Internet lending environment that is receiving more and more attention,and reveals the mechanism of persuading investors to make decisions and examines the regulatory effect of investor capabilities(investment experience)on the choice of investor information processing path.Secondly,this article combines investor herd effect research with ELM theory,and discusses the influence of investor herd effect on investors' investment behavior,in order to expand the application boundary of ELM theory.Finally,this article provides practical guidance for borrowers and online loan platforms,and has theoretical and practical guidance for improving the success rate of loan projects and the operation of online loan platforms. |
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