语言可信吗?借贷市场上语言的作用——来自P2P平台的证据被引量：43

Role of narratives in lending market:Evidence from P2P lending platform

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摘要 P2P新兴市场为研究借款申请人所用语言提供了契机。该文从语言长度与语言内容两个维度,以融资结果与还款行为两个层面,试图较为全面、较为立体地解读借贷市场上语言的作用。实证结果表明:语言长度越长,借款成功率越高,如约还清率越高,语言长度特征表现出一致性;涉及某些话题(创业、家庭、急迫、诚信),影响借款成功率,但与如约还清率无关,语言内容特征表现出迷惑性。这意味着投资人在通过语言长度识别信用风险方面较为成熟,但对语言内容的认识存在偏差。 The growth of P2 Pindustry provides new opportunities for research on the role of borrowers＇narratives in lending market.This paper analyzes the narratives in dimensions of the length and content with funding and repaying considered.Empirical results show that longer content is associated with easier funding and better repaying,but the content mentioning certain topics,such as entrepreneur,family,hurry,and trustworthy,affects funding while having nothing to do with repaying.Therefore,in lending market,the role of the narrative length performs consistent but the narrative content is confusing.Lenders have better ability to identify borrowers＇credit risk via the narrative length,but are biased via the narrative content.

作者廖理吉霖张伟强

机构地区清华大学五道口金融学院清华大学经济管理学院

出处《清华大学学报（自然科学版）》 EI CAS CSCD 北大核心 2015年第4期413-421,共9页 Journal of Tsinghua University(Science and Technology)

基金国家自然科学基金资助项目(71232003 71271214 71441020) 北京市社会科学基金资助项目(14JGA018)

关键词信用识别语言 Peer-to-Peer借贷 credit identification narrative P2Plending

分类号 O212.1 [理学—概率论与数理统计] F832.479 [经济管理—金融学]

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