An Empirical Research On Influence Factors Of P2P Network Credit Lending Willingness

Internet peer-to-peer Lending is a kind of micro-loan based on Internet technology and works as intermediary or platform,where lenders and borrowers conduct their transactions.Compared with the traditional financial institutions,P2P lending platforms feature with simple procedures and lower threshold for investors,which is not only beneficial for individuals and small & micro enterprises to raise fund but also a new investment channel for lenders.Meanwhile these platforms contribute to the development of capital markets and perfect the market economy system.All the transactions of P2P lending are carried out online,where information asymmetry inevitably exists.Therefore,it is worth discussing that how lenders make their decisions.Specifically speaking,how lenders evaluate borrowers and what affect lenders' willing are worth studying.Based on the following three aspects: perceived profit,perceived risk and perceived trust,this paper establishes the model studying main factors affect lenders' intentions and then analyses XX loan platform data.The analysis shows that:(1)the annual interest rate affects lenders most,the higher the perceived profit,the stronger lenders' willing to lend.(2)The amount and duration of the loan as well as the purpose of borrowers are positively affecting the lender's willing to lend.In general.The lower the perceived risk,the stronger the willing to lend.(3)The impact of the borrowers' age cannot be ignored.The higher the borrowers' actual age,the greater the successful rate.Male borrowers are preferred rather than women by lenders.The analysis of the financial situation shows that people prefer to lend money to the guaranteed income.It can be seen that the personal preference of the lender has a significant influence on their willingness to borrow.(4)Lenders trust these platforms more which are guaranteed by third-party depository,repayment and risk compensation,where the likelihood of successful bidding is greater.(5)The borrower's social capital affects the lender's intention to lend.If Lenders have been respected and recognized by others,and always get positive feedback,perceived trust will be greater and lenders are more willing to lend.This paper will help P2P borrowers to grasp factors affecting lender's willing to lend and improve their ability to raise fund through P2P lending platform.It also helps lenders to make better use of P2P market and get higher investment income,which will promote more transactions between borrowers and lender and contribute to the healthy development of P2P market.