P2P网络借贷平台的利率定价合理吗?——基于“人人贷”的经验证据

Is the Interest Rate Pricing in P2P Network Lending Platform Reasonable?——Empirical Evidence from“Renrendai”

本文基于"人人贷"平台的历史数据,研究P2P网络借贷平台的利率定价,结果表明:仅有12.18%的贷款项目利率定价基本合理;高信用等级贷款项目利率大多被高估,低信用等级贷款项目利率大多被低估;利率被低估的借款人所属行业大多为低端服务业及其它聘用人员流动性较强的服务行业,利率被高估的借款人所属行业则大多属于农业、制造业等劳动密集型产业,而其他行业理论利率与真实利率差异不大。

Based on the historical data of the＂Renrendai＂, the authors of this paper analyze the interest rate pricing in P2P network lending platforms. The results of the paper show that only 12.18% interest rate pricing of the loans is basically reasonable; the interest rates of high-credit-class loans are mostly overestimated, and the interest rates of low-credit-class loans are mostly underestimated; the most borrowers whose interest rates are underestimated belong to low-end service industries or other service industries with high-flowing hiring, and the most borrowers whose interest rates are overestimated belong to labor-intensive industries such as agriculture, manufacture, but the theoretical interest rates of other industries are not much different from real interest rates.