摘要
P2P网络借贷从其诞生之日起,由于其去中介化的运行模式,被作为一种全新的互联网金融模式受到研究者的广泛关注。加上大数据背景下的数据可得性,已形成一系列的实证研究成果。目前的P2P网络借贷实证研究主要集中于两个方面:一是针对借款人信息价值的研究,比较一致的结论是,凡是信息都是有价值的,无论是财务信息、个人特征或者社会关系有助于评估借款人的信用,那些需要高成本认证的信息价值更高;二是针对出借人投资行为的研究,出借人是否具有信息识别能力目前的研究结论并不一致,在出借人行为中也检验出本地偏好、羊群行为、学习能力和风险厌恶等传统金融市场上发现的投资者行为。我们提出了P2P网络借贷实证研究的未来方向:一是针对大数据环境下新信息的研究;二是传统商业银行的消费信贷与P2P网络借贷的对比分析;三是P2P网络借贷的国际比较分析。
Online P2 P lending is a new and disintermediation financial model.It is widely concerned by researchers when it was born.Together with the data available in the background of big data,a series of empirical research results have been formed.This article reviews so far P2 P network lending empirical research literature.We find that the existing research mainly focuses on two aspects.The first one is to the value of information from the borrower.The consistent conclusion is that all the information has its value.The information which is difficult to certification has higher value.The second focus is on the lender's behavior.The lender's ability of information recognition is not consistent.The lenders' behavior,such as local preference,herd behavior,learning ability and risk aversion which are found in the traditional financial market,are found in online P2 P lending marker.At the end of the article,we put forward a series of future research direction on online P2 P lending.
出处
《清华大学学报（哲学社会科学版）》
CSSCI
北大核心
2017年第2期186-196,共11页
Journal of Tsinghua University(Philosophy and Social Sciences)
基金
国家自然科学基金(71232003
71573147)
中国博士后科学基金第九批特别资助(2016T90073)
作者简介
廖理，清华大学五道口金融学院教授、教育部长江学者特聘教授（北京100083）；
张伟强，清华大学五道口金融学院博士后
