P2P网贷出借人投资行为影响因素研究
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摘要
从出借人的角度出发,通过研究影响投资行为的因素来提高借款成功率。利用人人贷网站散标投资的借款数据,运用数据挖掘技术进行分析。研究结果表明,在散标投资中,出借人对于标的信息的偏好更趋向于一致,偏好保障度高、利率适中、还款期限较长的借款。在借款人信息方面,偏好历史成功借款记录多、高学历的借款人。另外,国内出借人对于信用等级的认可度不同于国外P2P市场,国内出借人对于信用等级高的借款人出借意愿并不一定强,但普遍拒绝信用等级差的借款人。总之,出借人会权衡标的信息和借款人信息进行投资决策。
This paper from the lender's point of view,by studying the factors that affect investment behavior to improve the success rate of borrowing,using the loan data of renrendai. com website to analyze the data mining technology. The results conclude that lenders tend to have more consistent preference for underlying loan's information and prefer to the loans with high insurance,moderate interest rate and long payback period. In terms of borrower' s information,lenders prefer the borrowers with more successful borrowing records and higher degrees. What's more,the preference of credit rating is different from foreign P2 P lending market. Lenders' approval degree of credit rating are different from person to person. The higher credit rating doesn' t mean higher lending will,but poor credit rating mean lower lending will. All in all,lenders will weigh the underlying loan's information and borrower's information to make a investment decision.
This paper from the lender's point of view,by studying the factors that affect investment behavior to improve the success rate of borrowing,using the loan data of renrendai. com website to analyze the data mining technology. The results conclude that lenders tend to have more consistent preference for underlying loan's information and prefer to the loans with high insurance,moderate interest rate and long payback period. In terms of borrower' s information,lenders prefer the borrowers with more successful borrowing records and higher degrees. What's more,the preference of credit rating is different from foreign P2 P lending market. Lenders' approval degree of credit rating are different from person to person. The higher credit rating doesn' t mean higher lending will,but poor credit rating mean lower lending will. All in all,lenders will weigh the underlying loan's information and borrower's information to make a investment decision.
引文
[1]FREEDMAN S M,JIN G Z.Learning by doing with asymmetric information:evidence from prosper.com[R].Cambridge,MA:National Bureau of Economic Research,2011.
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[3]IYER R,KHWAJA A I,LUTTMER E F P,et al.Screening in new credit markets can individual lenders infer borrower credit worthiness in peer-to-peer lending management[R].Cambridge,MA:Harvard Kennedy School of Government,2010.
[4]HERZENSTEIN M,ANDREWS R L,DHOLAKIA U M,et al.The democratization of personal consumer loans?determinants of success in online peer-topeer lending communities[J].Bulletin of the University of Delaware,2008,15(3):274-277.
[5]POPE D G,SYDNOR J R.What's in a picture:evidence of discrimination from prosper.com[J].Journal of Human Resources,2011,46(1):53-92.
[6]董梁,胡明雅.基于社会网络分析法的P2P网络信贷研究评述[J].武汉理工大学学报(信息与管理工程版),2016,38(4):508-511.
[7]宋文.P2P网络借贷行为的实证研究[D].上海:上海交通大学,2013.
[8]王会娟,廖理.中国P2P网络借贷平台信用认证机制研究:来自“人人贷”的经验证据[J].中国工业经济,2014(4):136-147.
[9]王会娟,何琳.借款描述对P2P网络借贷行为影响的实证研究[J].金融经济学究,2015,30(1):77-85.
[10]盛浙湘,尹优平,盛辉.中国P2P信贷市场中的借贷行为监管研究:基于前景理论的PPDai数据挖掘[J].公司金融研究,2015(2):1-23.
[11]SUH B,HAN I.The impact of customer trust and perception of security control on the acceptance of electronic commerce[J].International Journal of Electronic Commerce,2003,7(3):135-161.
[2]LIN M.F,PRABHALA N R,VISWANGTHAN S.Can social networks help mitigate information asymmetry in online markets[R].Phoenix:Thirtieth International Conference on Information Systems,2009.
[3]IYER R,KHWAJA A I,LUTTMER E F P,et al.Screening in new credit markets can individual lenders infer borrower credit worthiness in peer-to-peer lending management[R].Cambridge,MA:Harvard Kennedy School of Government,2010.
[4]HERZENSTEIN M,ANDREWS R L,DHOLAKIA U M,et al.The democratization of personal consumer loans?determinants of success in online peer-topeer lending communities[J].Bulletin of the University of Delaware,2008,15(3):274-277.
[5]POPE D G,SYDNOR J R.What's in a picture:evidence of discrimination from prosper.com[J].Journal of Human Resources,2011,46(1):53-92.
[6]董梁,胡明雅.基于社会网络分析法的P2P网络信贷研究评述[J].武汉理工大学学报(信息与管理工程版),2016,38(4):508-511.
[7]宋文.P2P网络借贷行为的实证研究[D].上海:上海交通大学,2013.
[8]王会娟,廖理.中国P2P网络借贷平台信用认证机制研究:来自“人人贷”的经验证据[J].中国工业经济,2014(4):136-147.
[9]王会娟,何琳.借款描述对P2P网络借贷行为影响的实证研究[J].金融经济学究,2015,30(1):77-85.
[10]盛浙湘,尹优平,盛辉.中国P2P信贷市场中的借贷行为监管研究:基于前景理论的PPDai数据挖掘[J].公司金融研究,2015(2):1-23.
[11]SUH B,HAN I.The impact of customer trust and perception of security control on the acceptance of electronic commerce[J].International Journal of Electronic Commerce,2003,7(3):135-161.