Study On Risk Conduction And Prevention Of P2P

P2P network lending industry in China has experienced more than 10 years of development,although has made obvious achievements,but also breeds a lot of industry chaos.Especially since 2018,some areas have even concentrated the phenomenon of "exploding thunder".Under such an industry background,it is of great significance to select representative P2P network lending enterprises to study the source of risk,the process mechanism of risk transmission,the impact of risk transmission and give policy recommendations.In view of the fact that the e-zubao case has been closed and is still the biggest problem platform involving the amount of money so far,it objectively reflects the common problems in the development process of P2P industry and has typical representative significance.Therefore,the e-zubao case is selected as the object of this study,in order to obtain the mechanism and principle of P2P risk transmission,and to promote it.The whole industry is applicable.Through the study,we find that:(1)P2P network loan risk related subjects include investors,borrowers,the platform itself third-party guarantee institutions,external environment and other five aspects;(2)P2P network loan risk transmission process includes three important components:risk events,risk thresholds,risk carriers.(3)Risk formation is based on risk factors,static risk flow will be transformed into dynamic risk flow under certain conditions,thus forming risk transmission;(4)Risk transmission depends on information,capital,business and other carriers,through the information chain,capital chain,business chain and other channels to complete the risk transmission process.(5)The causes of e-zubao case are not only the internal reasons such as false propaganda within the platform and the low ability of risk internal control,but also the external effects of the weak risk awareness of investors and the absence of government supervision.Combined with the theoretical basis and conduction law of P2P risk conduction,this paper analyzes the impact of e-zubao case,and ponders the experience,lessons and inspiration brought by e-zubao case.In addition,combined with the previous analysis,a brief conclusion of the study is drawn and policy recommendations are given from the regulatory level,platform itself and investors.