软信息能否缓解P2 P网贷市场中的羊群行为?

摘要

Using Python to compose a web crawler program to extract 14936 valid loans from"Renrendai"website from August 15,2011 to August 20,2014,this study tries to expose whether the soft information has effects on the herding behavior in P 2P loan market,by using linear regression model according to the tender record for equal time division.The results show the length of the text of the loan statement is positively correlated with the herding behavior,that is,the increase in the soft information such as the description of the borrower may moderately alleviate the investor's herding behavior.Therefore, domestic network loan platform should learn from foreign P2P network loan platforms'operating experience,and provide more soft information to guide investors to make reasonable decisions.%文章以"人人贷"网络借贷平台2011年8月15日至2014年8月20日交易数据为样本,通过Python编写网络爬虫程序抓取14936个有效借款订单,采用线性回归模型,按投标记录进行等时间段划分,分析借款人提供的借款陈述等软信息能否缓解P2P网贷市场投资者的羊群行为.实证表明,借款陈述的文本长度与羊群行为存在负相关关系,即借款描述等软信息的增加可适度缓解投资者的羊群行为.对此,建议国内网贷平台应借鉴国外P2P网贷平台的运行经验,提供更多的软信息以引导投资者合理决策.