姚润坤, 朱小栋, 沈莉.P2P平台利率影响因素分析[J].重庆工商大学学报(自然科学版),2020,37(2):54-61
YAO Run-kun, ZHU Xiao-dong,SHEN Li.An Empirical Analysis of the Influencing Factors of P2P Platform Lending Rate[J].Journal of Chongqing Technology and Business University(Natural Science Edition),2020,37(2):54-61
P2P平台利率影响因素分析
An Empirical Analysis of the Influencing Factors of P2P Platform Lending Rate
  
DOI:
中文关键词:  P2P  利率定价机制  信号理论  工具变量法
英文关键词:P2P  interest rate pricing mechanism  signal theory  IV model
基金项目:
作者单位
姚润坤, 朱小栋, 沈莉 上海理工大学 管理学院 上海200090 
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中文摘要:
      针对利率市场化进程不断推进,利率成为互联网金融监管中最重要的环节,提出P2P借贷平台利率影响因素模型,实证研究P2P借贷利率的影响因素,并对借款者违约意向做出深入研究,为P2P借贷平台的发展提供参考与理论依据;研究发现:订单信息、借款人财务信息、信用信息、羊群效应对借款利率都产生影响;违约次数能够体现出个人信用状况,但在探究利率定价机制中并不显著,违约次数主要由还款能力和还款意愿决定,投资者应当重视欠款金额和信用查询记录,避免借款者产生道德风险;投资者人数对借款利率产生负向影响,表明当前投标人数能够对获得后续投标的可能性产生积极影响,投资者对于利率较低的订单,认为借款人的信用状况良好。
英文摘要:
      In view of the continuous advancement of interest rate marketization and interest rate becoming the most important link in Internet financial supervision, this paper puts forward a model of influencing factors of interest rate of P2P lending platform, empirically studies the influencing factors of interest rate of P2P lending, and makes an in depth study of default intention of borrowers, providing a reference and theoretical basis for the development of P2P lending platform. The study finds that first, order information, borrower financial information, credit information and herding effect have an impact on borrowing interest rate; secondly, the number of defaults can reflect personal credit status, but it is not significant in exploring interest rate pricing mechanism. The number of defaults is mainly determined by repayment ability and repayment willingness. Investors should pay attention to the amount of arrears and credit inquiry records to avoid the moral hazard of borrowers. Thirdly, the number of investors has a negative impact on the interest rate of borrowing, indicating that the current number of bidders can have a positive impact on the possibility of obtaining follow up bids. Investors believe that the borrower's credit is in good condition for orders with lower interest rates.
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