摘要
P2P网络借贷和传统借贷都存在着信息不对称,借款人声誉作为一种信号缓解了信息不对称程度,提升了借贷效率。本文以借款人过往逾期次数与成功借款次数作为声誉变量,实证研究了借款人声誉对违约风险的识别效应,同时发现随着借款人还款能力的增加,这种风险识别效应也在增强,因此投资人和P2P平台可借助分析借款人声誉指标做出合理的投资和监控决策,降低P2P网络借贷风险,使得P2P网络借贷成为传统借贷的有力补充。
Both P2P network and traditional lending have the same attribute of asymmetric information. The reputation of borrowers as a signal can ease the degree of information asymmetry to enhance the efficiency of borrowing. This paper uses borrowers' past number of overdue and successful loans as reputation variables to prove that the reputation of borrowers can identify the default risk,and this risk identification effect is enhanced with the increase of borrower's repayment ability. Therefore,investors and P2P platform can make reasonable investment and risk control decisions by analyzing the reputation index of borrowers,which reduces the risk of P2P network lending and makes P2P network lending as a supplement of traditional borrowing more powerful.
作者
李鑫
Li Xin(University of International Business and Economics,Beijing 100029)
出处
《金融发展研究》
北大核心
2019年第6期3-11,共9页
Journal Of Financial Development Research
基金
国家社会科学基金项目“大数据背景下金融与科技融合机理及风险管控研究”(18BGL059)
对外经济贸易大学国内外联合培养研究生项目
