| The rapid development of information technology shocks the status of traditional financial intermediaries,so the P2 P network loan models emerge,which are the new financial service models formed with Internet technology.The emergence of the P2 P network loan model provides a new type of investing and financing channels for modern society,which are also acknowledged by the majority of investors and financiers and becomes an important part of our modern financial system.However,there are still many problems such as low success rate of borrowing money and high financing costs existing in the P2 P online loan platforms.So we would explore the factors affecting the success rate and the interest rate of borrowing money in P2 P online loan platforms with the aim to improve the success rate of online lending and reduce the interest rate of borrowing money,which is the key of its sustainable development.At present,small and micro enterprises in China still have the problem that financing is difficult and expensive.P2 P online loan can meet the individuals and small and micro enterprises' needs of having microcredits as a supplement to traditional financial financing channels,which is of great importance to promote economic development and improve the financial system.For these borrowing demands valued by banks and other traditional financial institutions,P2 P online lending platforms can provide financial support for them.At present,China tights its supervision policy on the P2 P online loan industry and the situation of P2 P online loan industry is becoming more and more severe.The reshuffle of the industry is accelerated and reforms has entered a period of tackling tough issues.At this time,practitioners and researchers are required to brainstorm new ideas and work together.The first part of this article mainly elaborates the research background,research significance,and the review of the literature.The second part mainly introduces the concept and related theories of P2 P network loan platform,laying a theoretical foundation for follow-up study.The third part elaborates and analyzes the industry status and policy background of China's P2 P online loan platform industry in current stage,which provides help for follow-up empirical analysis and bringing bout related suggestions.The fourth part introduces the research sample of thisarticle— “Yirendai” platform,and divides the variables mentioned in this article into five categories,which are loan information variables,asset information variables,demographics variables,credit variables,and historical performance variables respectively.The fifth part of this paper combines the researches of predecessors in related fields.With the help of a binary logistic regression model and a multivariate linear regression model,the fifth part takes "Yirendai" as the research sample to conduct an empirical study on the success rate and interest rate of P2 P online loan platforms.Based on the previous research,the sixth part of this article puts forward relevant suggestions.Through empirical analysis,it is found that the loan information(borrowing amount,borrowing period),asset information(income,having a house property or not,owning a car or not),demographic information(age,gender,location,education background,marital status,etc.),credit information(credit Points),historical performance information(the number of successful loans,the number of failed loans,and the number of overdue loans)all influence the success rate and the interest rate on loans.According to the results of empirical research,with the aim to improve the success rate of P2 P online loan platforms,reduce the financing costs of borrowers and promote the development of P2 P online loan platforms,this article provides reasonable suggestions from three aspects including borrowers,P2 P online loan platforms,and supervisors.By doing this i hope to improve the success rate of P2 P online loan platform,reduce the interest rates of borrowers and promote the development of P2 P online loan industry. |
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