The Study On The Risk And Countermeasures Of Peer To Peer Lending

Peer to peer lending(referred to as "P2P"),indicates the direct lending of individuals that include natural persons,legal persons and other organizations through the network.Those who operate the network can be referred to as "P2P platform".Since the establishment of the first domestic P2P platform,the P2P industry has witnessed a rapid development,but also exposed some risks and problems,which have had a negative impact on financial security and social stability.Therefore,the study on the risk and countermeasures of P2P has become an important topic:What risks are hidden in the P2P industry?How to identify and evaluate these risks?How to take effective measures to deal with these risks?Firstly,this paper combs the relevant literature at home and abroad,and clarifies the research direction.Secondly,based on a brief analysis of the process,main characteristics and business models of P2P,this paper identifies the risks hidden in the P2P industry.Thirdly,aiming at the credit risk,operation risk,liquidity risk,information and technology risk,reputation risk and capital risk of the P2P industry,this paper selects appropriate risk quantification indicators and use the analytic hierarchy process(AHP)to get the judgment matrix through expert scoring,and then construct the risk evaluation model.In addition,based on the risk evaluation model,this paper selects some P2P platforms as a sample to carry out empirical analysis about the risk of the P2P industry.The conclusions are as follows.Firstly,among many types of risks,capital risk(29.48%),credit risk(23.58%)and liquidity risk(18.16%)have greater impact on the risk of the P2P industry.Secondly,among many risk evaluation indicators,compliance indicator(18.82%),transparency indicator(18.37%),technical indicator(13.09%),dispersion indicator(11.28%)and liquidity indicator(10.34%)are the most important ones.Finally,this paper puts forward such countermeasures as strengthening government supervision,optimizing management of P2P platforms and enhancing borrower and investor education,in order to effectively deal with the risks of the P2P industry.