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本文以人人贷对研究对象,通过数据挖掘的方法采取网络平台上的4155个
借款人的信息作为研宄的样本。基于大样本数据,研宄了借款描述对投资者决策
的影响、与借款人如约还清的关系,从而整体上判断借贷市场对借款描述存在的
偏差。更进一步,对不同学历、不同年龄、不同收入等级背景下的子样本进行实
证检验,分析这种偏差的差异性。研宄的结果表明:投资者对借款描述的识别存
在明显的偏差;在对内容的识别中,投资者对能力维度特征的识别偏差要小于对
品质维度特征、生活状况维度特征、善意维度特征的识别偏差;不同背景下,投
资者对借款描述的长度的识别偏差没有明显的差异性,对内容特征的识别表现出
明显的差异性,投资者对能力维度、品质维度的识别,在高学历、高收入、高年
龄情形下,产生更大的识别偏差;对内容的生活状况维度特征和善意维度特征的
识别,在低学历、低收入、高年龄情形下产生更大的偏差
根据研宄结果,文章为P2P借贷市场中提出一些合理的建议:(1) P2P网贷
平台应强化借款陈述的审核,并将“不诚实”的借款陈述,纳入到借款人的信用
体系的考核当中;(2)投资者要从多角度去识别借款人的潜在风险,在识别风险
时避免产生学历优势、年龄优势、收入优势的认知;(3)对优质的借款人来说,
不要简单地“泛”描述,而是要结合自己的“硬信息”进行自我描述,从而提高
借款成功率以及融资效率
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关儀词:P2P借款描述识别偏差差异性
II Abstract
ABSTRACT
P2P network loan business is the product of the Internet Era, from the era of the
wilderness to standardized operation.P2P network loan provide for enterprises to
financial support, convenience of personal life, but also brought some serious social
problems.Therefore, the academic circles have carried on the related academic
research on the network lending industry from the various angles.we have find that
the current research have develop from and qualitative research on platform mode and
legal supervision, to quantitative research on risk management and financing
efficiency.However, these empirical studies still have some shortcomings: Firstly, the
current empirical research is mainly focused on the impact of the financing efficiency
from the information of standardization in the lending market, ,and the impact of
investor behavior,.But there is relatively little research on non-standardized
information (order titles and loan statements).Secondly,the current research focused
on the unilateral study of investors,rarely from a whole point of view to study the
lending market trading factors and the relationship between the two sides, thus finding
the deviation between the investor&39;s identification on information and the borrower&39;s
behavior.Thirdly, it is seldomly studied the heterogeneity of this deviation from
different background(different ages, different qualifications, different income levels).
However, such research is more relevant to the decision-making of both parties.
In this paper,we take the information of 4155 borrowers on the network platform
by means of data mining as the sample .Based on the sample data, the article analyzes
the deviation of Investors identifying nonstandard information from the two aspects of
the length and content of the non-standardized information.Furthermore, the paper
makes an empirical test on the subsample, and analyzes the difference of the deviation
from different angles.The results show that:There is a obvious different that investor
recognize description of borrowings. In the recognition of the content, the deviation
of investor&39;s recognition in the dimension of ability is less than the dimension of
qualitiy, the living condition and the good faith. Under different backgrounds,there is
no obvious difference in the length of description of borrowings,but the recognition
of the content features showed significant differences.Investor&39;s recognition in the
dimension of ability make a great deviation in the situation of high edution.high
age,high income. Investor&39;s recognition in the dimension of he living condition and
ill Abstract
the good faith make a great deviation in the situation of low edution,high age,low
income. Investor&39;s recognition in the dimension of qualitiy make a great deviation in
the situation of high income,high age,low edution .
At the same time, it also puts forward some reasonable suggestions for P2P
lending market: Firstly,P2P net loan platform should strengthen the audit of
Borrowing statement, and take the dishonest loan statement as the assessment of the
borrower&39;s credit system.Secondly, investors want to identify the potential risks of
borrowers from multiple angles, and to avoid the awareness of the advantages of
education, age and income. Tirdly,prime borrowers can obtain the trust of investors by
providing more detailed information, showing the characteristics of the content of
investor preferences, to improve the success rate of borrowing and financing
efficiency.
Key Word: P2P, loan description,deviation of recognition, difference
iv 目录
目录
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ABSTRACT
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第1章绪论1. 1研宄的背景1.2研宄的内容和意义1. 3研宄的思路和框架1.4研宄方法1-5创新之处第2章P2P网络借贷运营模式介绍2. 1国外网络借贷主要运营模式2.2国内网络借贷主要运营模式第3章理论基础3. 1信息不对称理论3.2社会资本理论3.3信任理论第4章文献综述4.1网络借贷平台模式的研宄综述4.2网络借贷平台风险控制的研究综述4.3网络借贷行业监管体制的研宄综述4.4网络借贷效率的研宄综述4.4.1 “硬信息”对投资决策影响4.4.2 “软信息”对投资决策的影响
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4.4.3投资者的羊群行为
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4. 5研宄评述
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第5章研究的设计
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5. 1研宄的假设
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5.1.1从借款描述的长度
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5.1.2从借款描述内容方面
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5.1.3投资者对不同背景的借款人的信息的识别的差异性
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5. 2数据和变量
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5.2.1人人贷平台
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5.2.2数据来源
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5.2.3变量的确定
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5. 3模型
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第6章数据分析
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6. 1描述性统计分析
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6. 2相关性分析
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6.3回归分析
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6.4对比分析
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6.4. 1不同学历的对比
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6. 4. 2不同收入的对比
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6.4.3不同年龄阶段的对比
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6. 5结论和建议
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第7章未来展望
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参考文献
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在读期间发表的学术论文与取得的其他研宄成果
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第1章绪论
第1章绪论
1_1研究的背景
根据中国人民银行统计,我国的民营企业获得金融机构的融资不足10%,而
对于中小企业来说融资更是成为阻碍企业发展的关键性的问题。由于本身经营风
险较大、缺乏可抵押资产等问题,中小企业难以获得银行等金融机构的资金支持
(陈雷,2011)。很多民营企业甚至走向民间借贷,民间借贷往往又缺乏相应的法
律保障。另一方面,本身传统的银行处于垄断地位,不合理的制度,往往给企业
的信贷带来很多不确定因素(林毅夫,李志赞,2004)。近些年来,随着互联网
技术的不断成熟,商业思维方式也不断得改变,互联网思维对人们的生产生活带
来革命性的影响。P2P网络信贷行业也在这样的背景下应运而生
P2P,英文名叫Peer-To-Peer lending,或称个人对个人信贷。而P2P网络借
贷平台就是通过线上交易的方式帮助中小企业、个人获得融资的需求,这样的借
贷模式避免了传统的银行的手续复杂、效率低下等问题,因此在国内外很快获得
了青睐。P2P的信贷模式的理念来自于孟加拉湾的“乡村银行“乡村银行”是
由Muhammad Yunus博士创建于1972年,后更名为格莱瑕银行(Grameen Bank)
MuhammadYunus博士认为我们当前的金融体系无法满足大多数的人服务需求,
尤其是低收入的人群没有满足。“乡村银行”创办的初衷也是为了帮助孟加拉湾
当地低收入的农民解决生产生活融资问题,这样的观念与主流的银行的贷款观念
实际上是大相径庭的,但事实上Muhammad Yunus博士发现“乡村银行”贷款的
资金的回收率却达到了 100%。而这几年国内外兴起的P2P网络借贷,类似于乡
村银行的网络版。P2P网络借贷具有多种商业模式,大体来讲,网络平台主要做
的工作_ 一方面将有大量闲散的投资者聚集在一起,另一方面将有融资需求的借
款人聚集在一起,这样双方各取所需,达到融资和理财的目的;同时,平台还需
要对优、劣质借款人通过信用审核的方式进行甄别。由于这种高效、便捷的操作
方式,很快就获得了大量的投资者和借款人的青睐,短短数年间就得了快速的发
^
展
国外最早的P2P平台是2005年在英国成立的Zopa公司,主要为投资者和
借款人提供一个在线的交易的平台。基于
。。。以上简介无排版格式，详细内容请下载查看
