平台信息披露、信用评级对P2P平台融资成功率影响研究

摘要

〔Abstract〕 The information disclosure and credit rating greatly influence the success rate of P2P loan funding . This paper considers platform , investors and borrowers at the same time and sheds light on the first company in China based on P2P lending platform site on loan from January to December 2014 with the real transaction data as samples . Then we get the conclusion the more the loan details description words , the lower the success rate of financing and verify “the effect of lazy people”. The loan amount , interest rate , duration and historical failure frequency and funding success rate significantly negatively affect it . The historical success number , gender , working condition , plat-form rating and certification significantly positively impact it . The influence of age is not direct . Platform rating is the most powerful factor . The significant meaning of this paper is to make P2P loan funding platform more normal and improve the success rate of borrowing of it .%平台信息披露与信用评级是影响出资人意愿，进而影响P2P平台融资成功率的重要因素。本文综合考虑了平台、出资人、借款人三方的相互影响，并以中国第一家P2P借贷平台网站———拍拍贷在2014年1～12月的真实交易数据为样本，研究P2P平台的融资成功率影响因素。研究发现：借款详情描述字数越多，融资成功率越低，这也验证了出资人存在“懒人效应”。借款金额、利率、期限以及历史失败次数均会降低融资成功率。而历史成功次数、性别、工作、平台评级、认证均与融资成功率呈显著的正向关系。其中年龄与融资成功率没有直接关系。在所有影响因素中，平台评级在所有促进融资成功的变量中系数最大。本文研究对规范P2P平台，提高平台融资成功率具有意义。