Relationship Between Investor Emotion And Investment Income In China's P2P Market

P2P network lending is the most important financial format in the development of Internet finance in China.Investor sentiment not only affects the trading volume of the P2P network lending market,but also has a profound impact on the investor yield of the P2P network lending platform.Therefore,the research on the relationship between P2P network lending investor sentiment and investor's return rate has important theoretical and practical significance.This paper uses the theory of behavioral finance and the theory of information asymmetry to use the principal component analysis method and the DCC-GARCH measurement model to conduct in-depth research on the topic selection according to the theoretical discussion-the status quo investigation-empirical analysis-the logic of countermeasures.The full text is divided into five parts.Firstly,the paper analyzes and compares the operation modes of P2P network lending platforms at home and abroad,and analyzes the pricing of P2P network lending products in China,including the factors affecting pricing and pricing models.Based on this,the P2P network is analyzed by using information asymmetry theory.The problem of information asymmetry in the lending market,and using behavioral finance theory to analyze the investor sentiment problem in the P2P network lending market and the impact of investor sentiment on investor yield,the investor sentiment and investment return rate in the online lending market.The relationship between the two was investigated.Then,the principal component analysis method was used to construct the investor sentiment index of China's P2P market.Then the DCC-GARCH measurement model was used to use the online loan home data to empirically analyze the P2P network lending investor sentiment in China.The dynamic correlation between investment yields;finally,based on the conclusions of empirical results,propose corresponding countermeasures on how to promote the sustainable and healthy development of the online lending market.The main conclusions of this paper are as follows:1.The P2P market comprehensive sentiment indicators constructed by principal component analysis can better and more comprehensively reflect the investor sentiment in the market;2.The P2P network lending market has serious information asymmetry problem,investment Behavior is influenced by investor sentiment.The empirical analysis shows that the investor's sentiment is high and the investment income is low.On the contrary,theinvestor's sentiment is low,and the investment income is high,and most of the current mood and investment income changes come from the previous influence.The value of this paper is mainly reflected in: For P2P network lending regulators,it provides theoretical support on how to strengthen P2P network lending market public opinion supervision,create a good environment for P2P network lending market and policy formulation;for P2P network lending platform It has important reference value on how to strengthen platform operation management,improve user stickiness and measure development.This paper has some innovations in research content and research methods.