互联网金融对区域金融可得的均衡效应——基于P2P网贷交易数据的实证研究

Balance Effect of Internet-finance on Regional Finance Availability:Empirical Study Based on P2P Lending Transaction Data

基于国内代表性P2P网贷平台在2011—2013年的交易数据,对互联网金融对区域金融可得的均衡效应进行了实证研究。结果显示:来自正规金融可得水平较低区域的P2P融资者具有更强烈的P2P融资需求,反映出互联网金融弥补区域正规金融可得缺口的通道属性;P2P投资者相对偏好投资给来自正规金融可得水平较高区域的融资者,说明现阶段互联网金融对区域金融可得的均衡效应并未完全发挥,其原因可能是互联网金融交易机制待完善和投资者存在非理性因素。

Using the transaction data of domestic representative P2 Plending platform from 2011 to 2013,this paper empirically studies the balance effect of Internet-finance on regional finance availability.The result shows as follows:P2Pborrowers from the area with low finance availability levelhave stronger demand for P2 Pfinancing,which reflects the property of Internet-finance to balance regional finance availability;however,P2 Pinvestors prefer to invest in the borrowers from the regions withhigh finance availability level,which means that at present Internet-finance cannot play full balance effect,of which the possible reasons are trading mechanism still need to improve and there are some irrational investors in the market.