Does Online Lending Exist Gender And Marriage Discrimination?

P2P lending is a new type of Internet financial services,the borrower and the lender realize the transaction of funds on the network platform created by the P2P lending company.Compared with traditional bank lending,P2P online lending has a lower threshold,a simpler audit process and a higher yield,which has a good prospect in the application of personal and SME financing.In 2007,P2P lending entered China officially and showed explosive growth.At the same time,various problems and risks of P2P lending begin to be exposed.The number of irregular platform increases,and defaults occur frequently,bringing irreparable damage to investors on the P2P platform.Since 2014,the regulator began to introduce a series of policies to rectify P2P lending.Then,the P2P lending industry has slowed down and the industry concentration has increased.In the P2P lending model,the borrower's personal credit risk is the main risk faced by the P2P lending platform and investors.The more personal information the borrower discloses,the more accurately the investor can judge its credit risk.Among them,gender and marital status are information indicators that reflect the basic characteristics of each borrower,and may also have a certain impact on lending behavior.Based on the real transaction data of "renrendai" from October 2010 to January 2015,this paper investigates which gender and marital status of the borrower in the P2P lending market has a higher success rate of obtaining loan,.and whether the repayment performance of such borrowers is really better(i.e.,the default rate is lower),using the Probit model,Logit model and OLS regression.This paper wants to figure out is there gender and marital discrimination in the P2P lending market in China?If so,is this gender and marital discrimination reasonable?The regression results show that gender has a significant impact on both the success rate of obtaining loan and the default rate.Male borrowers have a lower success rate of obtaining loan and a higher default rate,while female borrowers have a higher success rate of obtaining loan and a lower default rate.The marital status will significantly affect the success rate of obtaining loan,but the impact on the default rate is not obvious.Specially,the married borrowers' success rate of obtaining loan is higher than that of single borrowers,while there was no significant effect of marital difference on the default rate.Furthermore,the interaction term of gender and marital status will affect the main effect of individual variable on the success rate of obtaining loan and the default rate.Concretely,compared to married women,single women and married men have a lower success rate of obtaining loan and a higher default rate.Similarly,compared to single men,single women and married men have a lower success rate of obtaining loan and a higher default rate.In addition,the regression results of the control variables show that borrowers with smaller amounts,better credit ratings,higher education levels,house mortgages and car have lower default rates in the P2P lending market and are more likely to borrow successfully.Finally,based on the conclusions drawn from the empirical regression,this paper proposes suggestions to the borrowers,investors,P2P platform and regulators separately.For borrowers,it can help them broaden financing channels,increase the success rate of obtaining loans,and reduce the possibility of default;for investors,it can help them identify the credit risks behind borrowers and reduce investment risks;for the platform,it can help them improve the efficiency of operation and capital circulation,reduce the risk of operating;for the market,it benefits the healthy development of P2P lending and the realization of inclusive finance.