公开竞标的贷款定价方式对P2P借贷平台的优化作用

Study on Optimal Function of Open Biding Debt Pricing on P2P Lending Platform

P2P借贷是一种金融创新模式,将互联网技术与民间借贷相结合。互联网信贷的巨大需求推动P2P借贷平台的爆发式发展,而P2P借贷发展核心的两个问题是信用评级和风险定价。由于我国未完全实现利率市场化,P2P平台采用的是量化借款人信息的方式计算贷款利率。信息不对称导致P2P平台的贷款利率不能充分反映借款人风险,同时造成信誉良好的借款人不能获得低成本的贷款。文章利用拍卖机制模型对公开竞标的贷款定价方式进行探究,认为公开竞标方式可以改善信息披露,降低借款人的成本,借款人和投资人在公开竞标的贷款定价方式下都可以获得灵活的选择空间,从而提高借贷成功的比例。

P2P lending platform is a kind of financial innovation. It combines internet technology with people to people lending. The demand of Web lending promote boom of P2 P lending development. Two primary keys of P2 P lending are credit rating and risk pricing. Due to the uncompleted interest rate liberalization in China, P2 P calculate the debt rating basing on quantification of borrowers＇ information. The rate of debt cannot reflect risk totally and borrowers with good reputation cannot borrow money at low rate for Information asymmetry. This paper employs auction mechanism for studying on open biding debt pricing. This paper concludes that open biding debt pricing improve information disclosure, lower debt rating and make borrowers and investors have more choice. That will raise the percentage of successful debt transaction.