本文選題：P2P網(wǎng)絡(luò)借貸　切入點(diǎn)：小微企業(yè)融資　出處：《華東政法大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：P2P網(wǎng)絡(luò)借貸作為一種金融創(chuàng)新，是民間金融與互聯(lián)網(wǎng)的融合。從2007年引進(jìn)國(guó)內(nèi)后，在網(wǎng)絡(luò)普及率提高、移動(dòng)支付發(fā)展，信貸配給和金融排斥，寬松政策環(huán)境以及網(wǎng)絡(luò)借貸自身優(yōu)勢(shì)等因素的推動(dòng)下，P2P網(wǎng)絡(luò)借貸市場(chǎng)發(fā)展迅速。其發(fā)展模式也不斷創(chuàng)新，有單純中介型，復(fù)合中介型，和非盈利公益型。目前，整個(gè)P2P網(wǎng)絡(luò)借貸市場(chǎng)，平臺(tái)數(shù)量與日俱增，市場(chǎng)的規(guī)模急速擴(kuò)張，市場(chǎng)的參與主體多元化，業(yè)務(wù)模式多樣化，但問(wèn)題與風(fēng)險(xiǎn)也在積聚。 在網(wǎng)絡(luò)借貸市場(chǎng)上，有近70%份額是小微企業(yè)借款�，F(xiàn)實(shí)中，網(wǎng)絡(luò)借貸的特點(diǎn)與小微企業(yè)的融資特點(diǎn)相符，小微企業(yè)處于融資難的境界，這些都驅(qū)動(dòng)小微企業(yè)運(yùn)用P2P網(wǎng)絡(luò)借貸實(shí)現(xiàn)融資。理論上，首先，P2P網(wǎng)絡(luò)借貸為借貸雙方提供中介服務(wù)，起到了資源配置的作用；其次，盡管存在信息不對(duì)稱，但只要小微企業(yè)的預(yù)期收益率超過(guò)了出借人的機(jī)會(huì)成本、交易成本和信息不對(duì)稱的風(fēng)險(xiǎn)補(bǔ)償，網(wǎng)絡(luò)借貸雙方有實(shí)現(xiàn)交易的可能，并且信息不對(duì)稱程度越低，，可能性越大；最后，社會(huì)資本產(chǎn)生的“軟信息”一般會(huì)反映著借款人的財(cái)務(wù)狀況和誠(chéng)信程度，且依賴于社會(huì)資本的個(gè)人信用機(jī)制和聲譽(yù)機(jī)制，通過(guò)對(duì)借款人行為的激勵(lì)、約束和懲罰，起到緩解信息不對(duì)稱的作用。 選擇拍拍貸進(jìn)行實(shí)證研究，通過(guò)對(duì)拍拍貸數(shù)據(jù)的實(shí)證分析，得到影響出借人出借資金的可能性的因素，借入信用得分、歷史借款成功次數(shù)與出借人出借資金的意愿正相關(guān)，流標(biāo)次數(shù)與出借人出借資金的意愿負(fù)相關(guān)，借出信用得分影響出借人出借資金的意愿微弱，借款利率對(duì)出借人出借資金意愿的影響為負(fù)，借款期限與出借人出借資金的意愿負(fù)相關(guān)，借款金額對(duì)出借人出借資金的意愿影響微弱。 最后，為發(fā)揮P2P網(wǎng)絡(luò)借貸在小微企業(yè)融資中的積極作用，結(jié)合網(wǎng)絡(luò)借貸存在的問(wèn)題和實(shí)證結(jié)論，相應(yīng)的提供一些政策建議。首先，政府明確借貸平臺(tái)的性質(zhì)，確定監(jiān)管主體；在完善相關(guān)法律規(guī)范的同時(shí)，健全監(jiān)管制度；加強(qiáng)個(gè)人和小微企業(yè)信用體系的建設(shè)。其次，加強(qiáng)平臺(tái)自身建設(shè)，建立風(fēng)險(xiǎn)儲(chǔ)備金防范風(fēng)險(xiǎn)。最后，個(gè)人和小微企業(yè)要提高信用價(jià)值意識(shí)，注重平臺(tái)社會(huì)資本的積累與維護(hù)。
[Abstract]:P2P network lending, as a financial innovation, is the fusion of private finance and the Internet. Since 2007, the network penetration rate has increased, mobile payment development, credit rationing and financial exclusion. Driven by the loose policy environment and the advantages of network lending, the P2P network lending market is developing rapidly. Its development model is also constantly innovating, including pure intermediary, compound intermediary, and non-profit public welfare. At present, In the whole P2P network lending market, the number of platforms is increasing with each passing day, the scale of the market is expanding rapidly, the participants of the market are diversified, the business models are diversified, but the problems and risks are also accumulating. In the online lending market, nearly 70% shares are borrowed by small and micro enterprises. In reality, the characteristics of network lending are consistent with the financing characteristics of small and micro enterprises, and small and micro enterprises are in the state of difficulty in financing. In theory, P2P network lending provides intermediary services for both borrowers and borrowers, which play a role in resource allocation; and second, despite the information asymmetry, But as long as the expected rate of return of a small and micro enterprise exceeds the opportunity cost of the lender, transaction costs and risk compensation for asymmetric information, there is a possibility for both parties to the network to trade, and the lower the degree of information asymmetry, the more likely it is; finally, The "soft information" generated by social capital generally reflects the borrower's financial situation and integrity, and relies on the individual credit mechanism and reputation mechanism of social capital, by encouraging, restraining and punishing the borrower's behavior. Play a role in alleviating information asymmetry. Select PPDAI to carry on the empirical research, through the empirical analysis to the data of PPDAI, get the factors that affect the possibility of the lender lending funds, borrow credit score, the times of historical loan success and the willingness of the lender to lend the funds. The number of bid flow is negatively correlated with the willingness of the lender to lend funds, and the credit score has a weak effect on the willingness of the lender to lend, while the interest rate on the loan has a negative effect on the willingness of the lender to lend funds. The term of loan is negatively related to the willingness of the lender to lend funds, and the amount of the loan has little effect on the willingness of the lender to lend the funds. Finally, in order to give full play to the positive role of P2P network lending in the financing of small and micro enterprises, combined with the problems and empirical conclusions of network lending, it provides some corresponding policy recommendations. First, the government defines the nature of the lending platform and determines the main regulatory body; At the same time of perfecting the relevant laws and regulations, we should improve the supervision system; strengthen the construction of the credit system of individuals and small and micro enterprises. Secondly, we should strengthen the construction of the platform itself and establish a risk reserve fund to guard against risks. Individuals and micro-enterprises should improve their credit value consciousness and pay attention to the accumulation and maintenance of social capital.
【學(xué)位授予單位】：華東政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.4

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