Study On Behavior Efficiency Of The Peer-to-Peer Lending

In recent years, P2P lending has developed rapidly.P2P lending opens up a new financing path to support financial services of small and micro-sized enterprises and individuals. However, not all micro-sized enterprises and individuals raise money successfully at a low cost through P2P platform,which shows that efficiency of the P2P lending is low.The high effectiveness of P2P lending contributes to the development platform and is helpful to achieve financial Pratt & Whitney.Thus,the research is to make an intensive study on the factors on the efficiency of the P2P lending practices to improve the efficiency of the P2P lending practices which provides practical reference value.The research uses the method of combining quantitative analysis with qualitative analysis.First of all,the research is from the scale of lending market,each type of lending platform,average lending rate and the problem numbers to make an qualitative analysis of the P2P current situation.Then the research analyzes the efficiency of P2P lending practices from the money supply and demand.Then we make empirical researches using the data in the fourth quarter of 2015 of Renrendai.When studying with the investor's willingness to lend,the research uses the logistic regression model.When studying with the lending rate,the research uses the multiple regression model.The regression results show that the information:(1)Borrowing rate has significant negative correlation with the success rate of loan.The lower loan amount can improve the efficiency of the behavior of borrowing.The longer loan period will reduce the success rate of loan,but have no significant influence on lending rate.(2)Demographic characteristics,income, assets and liabilities can improve the efficiency of lending behavior to a certain extent.(3)Borrowers guaranteed by an institution can significantly improve the efficiency of the behavior of borrowing.(4)Credit scoring and overdue record have influence on the efficiency of lending behavior,field trips of borrowers can improve their success rate of loan,but have no significant influence on lending rate.Finally,through empirical research and combining with the actual, this paper argues that the measures to enhance the efficiency of the P2P lending can be suggested from five aspects,which are borrowers,investors,the credit intermediary,platform and regulatory.