Analysis On The Influencing Factors Of The Success Of Internet Lending Under The Background Of Digital Inclusive Finance

With the diversification of the development model of digital Inclusive Finance,Internet lending,as a useful supplement to traditional lending,has brought convenience to microfinance.However,due to the lack of scientific and effective regulatory constraints and inclusive support policies,while Internet lending provides equal and convenient financial services for all levels,there are also phenomena such as the general overdue loan orders and the frequent explosion of Internet lending platforms.How to promote the sound development of Internet lending by improving the relevant systems of Internet lending,There are still many problems worth exploring to ensure that individuals and small and micro enterprises with legitimate lending needs can be benefited in a healthy,safe and convenient lending system.Based on the digital inclusive finance index data of Peking University and the borrower characteristic information data of an Internet lending platform,this paper selects variables such as the loan order characteristics at the micro individual level,the borrower characteristics and the digital inclusive finance development index at the macro regional level,establishes a multi-layer linear model,and analyzes the influencing factors of the success of Internet lending.On this basis,the total digital inclusive finance index is replaced by the digital inclusive finance index,and the robustness of each sub index is tested,and the impact of each sub index on the success of Internet lending is investigated.At the same time,considering that the imbalance of regional development in China may lead to the differences in the development of digital Inclusive Finance in different regions,this paper also analyzes the regional heterogeneity of the impact of digital Inclusive Finance on Internet lending.In addition,considering that the impact of the development of digital Inclusive Finance on Internet lending may be nonlinear,the threshold effect test is carried out with the depth of digital finance use as the threshold variable.The research shows that the success of individual Internet lending is affected by the characteristics of loan orders,the characteristics of borrowers,the development level of regional digital Inclusive Finance,and the regulatory effect of regional digital inclusive finance development level on the characteristics of loan orders and borrowers;The development degree of digital Inclusive Finance varies in different regions of China,and the factors affecting the success of Internet lending and their influence degree are different in different regions;The promotion of digital Inclusive Finance to the success rate of Internet lending is restricted by the depth of regional digital finance;The concept of "helping the weak and solving difficulties" of Inclusive Finance has not been realized in Internet lending.There are still large barriers for people to obtain financial services through Internet lending,and the development of Inclusive Finance needs more efforts.Based on the above conclusions,this paper puts forward policy suggestions to promote the healthy development of Internet lending and improve the inclusiveness of digital finance from the perspectives of introducing digital credit investigation into Internet lending platform,developing regional digital Inclusive Finance and narrowing the gap of digital Inclusive Finance between regions.