| Internet finance is booming in the context of information technology development.P2 P online lending platforms play an important role in solving financing problems for small,medium and micro enterprises and individuals.In order to study P2 P online lending platforms,the author found that the current research is rich and colorful through literature analysis.This article selects the perspective of the factors that affect the business performance of the platform for research.After a comparative analysis of the influencing factors on platform business performance,it is found that there is little literature to study its impact on platform business performance from the aspects of platform information disclosure and privacy protection strategies.In fact,information disclosure and privacy protection are the only way to build trust between online lending institutions and users.They play a very important role.Research on the information disclosure behavior of online lending institutions can summarize their failures and explore the path of transformation and development.There is a certain value.This paper is based on a total of 13 months of sample data from 52 platforms from June 2018 to June 2019.The platform's business performance is used as the explained variable,and the sufficiency,timeliness,reliability,and privacy protection strategy of the information are the explaining variables.We put forward the following assumptions: the sufficiency,timeliness and reliability of information disclosure are positively related to the business performance of P2 P network lenders;privacy protection strategies are positively related to the business performance of P2 P network lending institutions.Then,using the method of empirical research,a regression model was established and empirical analysis was performed.Finally,in order to ensure the robustness of the empirical results,the author performs endogenous tests and robustness tests using two methods which are lagging the explaining variables and replacing the explained variables.The results show that: First,the adequacy of information disclosure and privacy protection strategy of P2 P network lending platform are positively correlated with thebusiness performance of P2 P network lending platform.Investors are more willing to choose a platform with a lower degree of information asymmetry and a better protection of customer privacy information when they invest money.Second,the timeliness and reliability of information disclosure have no significant impact on the business performance of P2 P network lending platform.As far as the investors of the current P2 P online lending platforms,most investors do not have the ability to judge whether the information disclosed is authentic and reliable.Many investors also have a herd behavior.Finally,based on the theoretical analysis and empirical research,the following suggestions are proposed:(1)The degree of information disclosure of the platform itself and the standard of information disclosure should be strengthened.This will make it easier for investors to compare and identify information.And it will also help to facilitate the conclusion of platform transactions.(2)Platform supervision should be strengthened.If an industry is to survive for a long time,there must be certain rules and constraints.Due to the incomplete laws and regulations on the P2 P online lending industry,a large number of platforms have previously closed down.(3)The education of financial management knowledge for investors should be strengthened.The lack of investors' financial management knowledge will lead to herd behavior,resulting in "bad money expelling good money".(4)Individuals should strengthen their awareness of protecting their private information.The leakage of personal privacy information is likely to be used by illegal persons,which poses a certain danger to the personal safety of individuals.The strengthening of personal privacy information protection awareness can promote the platform to strengthen protection in this regard. |
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