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The Risk of Internet Finance and the Risk Awareness of Investors: Evidence from Transaction Data of P2P Online Lending Platforms

【Authors】
DENG Dongsheng, CHEN Zhao
【WorkUnit】
Fudan University, 200433)
【Abstract】

This paper is the first to use the operation data of 575 P2P platforms to examine investors’ risk awareness about online lending. It finds that investors are aware of risks, either risks of individual platforms or risks of the online lending market as a whole. On one hand, although investors prefer short-term and highinterest products, they are more cautious about possible problematic platforms, and might even cut their investment if the interest rate goes up. On the other hand, when more problematic platforms are exposed, investors will become more cautious.
 
JEL:G11, G21, G32

【KeyWords】
P2P Online Lending, Problematic Platform, Market Risk, Risk Awareness