Research On The Factors Influencing The Default Behavior Of The P2P Lending Platforms In China

Peer-to-Peer lending is a direct credit model that enables investors and borrowers to realize their investment and financing needs through the Internet.P2 P lending platform is a financial services website which combined with the Peer-to-Peer lending model,and the platforms play the role of information intermediary.It has been eight years since the P2 P lending pattern first came to China,because of its fast,convenient,simple way of borrowing services,the number and scale of platforms have been achieved explosive growth.However,in terms of legal supervision,industry norms,credit rating,internal risk management control and other aspects,the P2 P industry is still in the immature period of exploration,in recent years,there are also more and more problems occur in this industry,difficulty in cash extraction and even break down of platforms etc.The thesis uses the crawler program to obtain P2 P platform data directly on the website,and studies the influencing factors of P2 P platform default behavior,it not only can promote the understanding of Chinese P2 P market,but also has important practical significance.This thesis first introduces the research background and significance of P2 P platform default behavior.Secondly,it analyzes the development course,the present situation and the existing problems of P2 P lending platforms in China.Then,it analyzes the factors that may affect the platform breach of contract,select the sample data according to these factors and construct the binary logistic regression model of the influencing factors of the default behavior of P2 P lending platforms in China.Finally,according to the results of empirical regression,it puts forward the risk management suggestions to prevent P2 P lending platforms' default behavior from four aspects: P2 P lending platforms,industry self-discipline organization,state supervision departments and investors.Through the studies,we can get the following conclusions:Firstly,the average borrowing rate,the average borrowing period,the operating time,the private background,the user funds custody,the risk reserve guarantee and other means protection has a significant impact,and the impact of these variables from large to small Followed by: operating time,the average borrowing rate,the user funds custody,the average period of borrowing,risk reserve protection,other means of protection,private background.Secondly,through empirical analysis,this thesis constructs the binary logistic regression model of P2 P network loan platform default behavior,and platform operators can use the model to predict the possibility of default behavior of P2 P platforms and to strengthen the risk prevention.the investors also can carry out the risk warning and make the correct investment decision by the binary logistic regression model.Thirdly,in view of the significant influencing factors,the P2 P industry must gather the power of the the network borrowing platform,the industry self-discipline organization,the state supervision department and the investors to prevent the P2 P network platform default behavior,to promote healthy and sustainable development of P2 P lending platforms,and ultimately achieve the norms of the P2 P lending industry.