网贷平台最优借贷利率与项目筛选策略

The optimal interest rate and project screening strategy of online lending platform

本文分析了网贷平台的最优借贷利率与项目筛选策略,首先,提炼了网货平台的主要特征,然后,构建并求解了网贷利率与项目筛选模型.最后,通过数值算例考察了平台费率等因素对网贷平台最优策略和期望利润的影响,结果表明:1)网贷平台的最优借贷利率与借款管理费率呈负相关,且两者之和不高于外部借贷利率.2)在一定范围内提高利息管理费率不仅能激励网贷平台加强项目筛选,还可以提升网贷平台的期望利润。3)对于大额标,网贷平台的期望利润较高,但前提是其应加大项目筛选强度,否则将产生较大的信贷集中风险.该结论对金融信息中介的息费定价与项目筛选等问题的研究具有理论与现实价值.

This paper studies the optimal interest rate and screening strategy of online lending platform.The main characteristics of online lending platform are first extracted.Then,a model of online lending interest rate and project screening is proposed and solved.At last,the effects of some factors,such as fee rate,on optimal strategy and expected profit of online lending platform are explored through a numerical analysis.Results indicate the following.Firstly,there is negative correlation between optimal lending interest rate and loan management rate,and their sum is not higher than the borrower’s outside interest rate.Secondly,increasing interest management rate within certain range can not only incentivize online lending platform to intensify project screening,but also raise the platform's expected profit.Thirdly,online lending platform can obtain high expected profits from loans with large amounts if it strictly screens the loan applicants;otherwise it will suffer the risk of credit concentration.These conclusions have theoretical and practical implications for the study of interest rates and fee pricing and project screening for financial information intermediaries.