P2P网络借贷:履约机制、运作模式与风险控制

P2P Network Lending: Implementation Mechanism,Operation Mode and Risk Control

近两年来,P2P网贷平台接连发生倒闭或跑路现象,引发投资者对P2P网贷平台的信任危机,但在平台技术层出不穷、平台模式不断更新的背景下,监管部门很难对这个新兴、跨界经营的企业进行系统管理。本文基于契约理论,分析了P2P网络借贷交易过程的履约机制,以及国内P2P网贷平台的三种运作模式和潜在风险点,并从行业自律和行业监管两个角度提出了相应的风险控制策略,对于监管当局针对P2P网络借贷活动制定有效监管政策具有一定的借鉴意义。

In the past two years, the failure of P2P network loan platform happened successively which has caused trust crisis of investors in P2P network loan platform loan. But under the background that the platform technology has emerged endlessly, platform mode has continuously been updated, it is difficult for regulators to systematically manage the emerging and cross-border business. Based on the contract theory, the paper analyzes the implementation mechanism of P2P network lending transaction process, as well as three kinds of operation patterns of domestic P2P network loan platform and potential risk points, and puts forward the corresponding risk control strategy from the angles of the industry self-discipline and the industry supervision, which provides a certain reference sig-nificance for regulatory authorities to make effective regulatory policy aiming at P2P network lending activities.