摘要
中国互联网金融发展迅速。截至2017年3月底,中国P2P互联网金融借贷运营平台数量达2458家、贷款余额累计超4000亿元人民币,但P2P网贷市场累计问题平台数量已达853家并呈上升趋势。本文定义了P2P互联网金融借贷市场"有效性"概念,实证检验中国P2P网贷市场的有效性。研究结果表明,中国P2P网贷市场尚未达到弱市有效;投资人不是完全理性,他们更偏好于收益率而非风险规避;"好"的借款人比"差"的借款人更容易借到款。
With the innovative development of global internet finance in this decade, the internet finance in China develops rapidly. However, by the end of March 2017, the proportion of questionable platforms is on the rise. This paper defines the concept of effectiveness of P2P network lending market. Statistical test results show that Chinese P2P network lending market is not reach weak efficiency market ; investors are not completely rational in Chinese P2P network lending market, they prefer to the yields rather than the risk aversion; ＂better＂ borrowers tend to borrow money easily, ＂poor＂ borrowers tend to borrow money with difficulty.
出处
《经济体制改革》
CSSCI
北大核心
2018年第2期137-144,共8页
Reform of Economic System
基金
中央高校基本科研业务专项资金资助(17YJ04008)
