An Empirical Study On Behavior Efficiency Of The P2P Online Lending

P2P network lending is an innovative way of small micro-finance, which is based on the Internet and it includes a pratt&whitney financial sense. This new pattern has active the financial markets and enhanced the availability of data. What makes its widely social attention the most? It must be the possible efficiency improvement of Financing. As the P2P network lending platform now facing a rapid growth period, this new way of lending also receives more and more people’s acceptance.First, we make a whole generalization for the current development status of P2P network lending on the basis of data collected. Second, we try to make a deep analysis for the asymmetric information problem in P2P network lending market, draw a conclusion that the information asymmetry is widespread in that market and reveal the adverse selection problem and moral hazard problem, which are possible existing. Third, as information asymmetry may cause market inefficiency, in the part2.4, we try to make an analysis for the factors affecting the efficiency, under the help from predecessor by reading their related articles.At last, we take advantage of the data of Renrendai to make an empirical research on the influence, various factors cause to the efficiency of the network lending practices. Use the logistic regression model, when study with the investor’s willingness to lend, and use the multiple regression model, when study with the lending rate. Finally, the regression results show that the information:credit scoring and field trips of borrowers, provided by the P2P network lending platform can significantly improve the efficiency of network lending behavior, and borrowers can also separate themselves from the poor quality borrowers, in the case of information asymmetry, through institutional guarantees and provide their income, assets and liabilities and other relevant information to investors to improve their success rate of loan.