提高透明度能增强出借人对P2P网贷平台的信任吗?——基于管理层信息披露的分析

Can Transparency Enhance the Trust of Lender to P2P Lending Platform?——Analysis Based on Management Information Disclosure

信息披露是降低信息不对称程度的重要手段。本文基于363家P2P网贷平台2017年2月至7月的月度面板数据,采用联立方程模型实证分析了管理层信息披露对P2P网贷平台出借人信任的影响,得到如下研究结论:(1) P2P网贷平台披露的管理层人数越多越有利于提高出借人对平台的信任;(2)出借人倾向于信任董事长具有较高学历和海外经历的P2P网贷平台,而倾向于不信任董事长具有互联网从业背景的平台;(3)管理团队中,高学历人数占比和拥有海外经历人数占比越高,越有利于增强出借人对平台的信任,而互联网从业经历人数占比越高则不利于出借人对平台的信任。提高透明度能够增强出借人对P2P网贷平台的信任。

Information disclosure is an important mean to reduce the information asymmetry. Based on the panel data of 363 P2P lending platforms from February to July of 2017,the paper empirically analyzes the impact of management information disclosure on the trust of lenders on P2P lending platforms. The results of the research show:(1) The number of top management in information disclosures positively affects the trust of lenders on P2P lending platforms.(2) The overseas experience and the educational backgrounds of the chairman positively influence the trust of the lender;the experience of the chairman's Internet technology negatively affects the trust of the lender.(3) The proportion of overseas experiences and the proportion of masters or higher education in the top managers positively influence lenders' trust to P2P lending platform,and the proportion of internet experience of the managers' negatively influence lenders' trust.