The Impact Of Professional Experience And Academic Level On Lending Behavior

China's current credit information system is still not perfect,and the P2 P network lending market is a highly asymmetric market.Investors can only understand the information provided by borrowers on the P2 P platform.Investors can only screen out the borrowers that investors believe to be reliable based on the information provided by the borrower and the platform,and avoid investment losses as much as possible.The relevant literature finds that academic level of the borrower will affect the willingness to repay.This is because higher education will affect the behavior of the borrower and strengthen self-discipline,thus having a higher willingness to repay.The career experience will affect the borrower's ability to repay from the aspects of financing channels and job performance.Therefore,this paper wants to explore whether the borrower's career experience and academic level in the P2 P network lending market will affect the investor's decision-making behavior,that is,the impact of the industry experience and academic level on the success rate of the loan.As well as the experience and academic level will affect the borrower's repayment ability and willingness to repay,that is,the impact of the experience and academic level on the performance of repayment.Further,the introduction of cross-cutting of career experience and academic level explores the interaction between the borrower's career experience and his or her academic level.Finally,the market segmentation sample is used to explore the reasons why the career experience and academic level affect the decision-making behavior of investors.The research in this paper shows that borrowers with rich experience and high academic level have higher loan success rates,but borrowers with rich experience do not have better repayment performance,while borrowers with high academic level are often able to repay The investor's preference for the borrower's academic level is sensible,but there is a bias in the preferred behavior of the borrower's career experience.A study of cross-cuttings found that investors would consider the borrower's career experience and academic level in a comprehensive manner.Research on market segments shows that investors are interested in borrowers with rich experience and high academic level due to information asymmetry.The research in this paper helps to better understand the behavior of borrowers and investors,and complements and enriches existing research.On this basis,I ponder the defects and shortcomings of the development of China's P2 P network lending,and give suggestions for improvement.