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Analysis on P2P Problematic Platforms Features and InvestorsIdentification——Evidence from 222 Online Platforms

【Authors】
WANG Xiuhua,MENG Lu & OUYANG Hui
【WorkUnit】
WANG Xiuhua, MENG Lu (Hunan University)
OUYANG Hui (Cheung Kong Graduate School of Business)
【Abstract】

In the paper, we did an empirical research on significant features of problematic platforms and investors' identification by using the operating datum of 222 P2P lending platforms. The empirical results show that: the platform background, registered capital and other features variables does not significantly reflect the differences between normal platforms and problematic platforms, and the disclosure of management information, high annualized rate of return and the lack of fund depository is the significant features of problematic platforms. Further study found that the ability to identify risk of investors in Chinese online lending market has not been comprehensive enough, and they prefer such platforms with high registered capital and low annualized rate, while they ignore the disclosure of management information, fund depository and other information about platforms.

【KeyWords】
P2P Online Lending, Problematic Platforms, Logistic Regression


JEL:G11,G21,G32